Barry-Wehmiller announces new president and chief financial officer
Kyle Chapman, Barry-Wehmiller president (left), and Michael Monarchi, Barry-Wehmiller chief financial officer (right). Image credit: Barry-Wehmiller
Barry-Wehmiller Companies Inc has promoted Kyle Chapman to president, joining his father, CEO and Board chairman Robert Chapman, in leadership of the 135-year-old, $3 billion-plus global manufacturing and engineering solutions firm. As Kyle steps into his new role after serving as Barry-Wehmiller’s Interim Chief Financial Officer for much of 2020, the organisation welcomes Michael Monarchi as chief financial officer.
“This is a unique two-generation opportunity to leverage my 51 years of experience and Kyle’s skills and 20 years of private equity and operating experience, with both Bank of America and BW Forsyth Partners, to steward the lives of our 12,000 team members and shape Barry-Wehmiller’s next two decades,” said Bob. “The blend of our experience and skills creates a powerful partnership, as we continue to validate that you can create economic and human value when you embrace the principles of our Truly Human Leadership culture.”
After working at Bank of America, Kyle’s tenure with Barry-Wehmiller began in 2009 when he co-founded BW Forsyth Partners, Barry-Wehmiller’s thriving $600 million-plus hybrid equity firm that unifies Barry-Wehmiller’s business strategies and long-term orientation, with the best private-equity investment strategies. His involvement with Barry-Wehmiller has continued to grow over time, as he served as a strategic financial advisor from 2015 to 2019 to the company’s leadership team, while co-leading BW Forsyth Partners. When the Covid-19 pandemic and related global market uncertainty escalated shortly after being appointed as Interim Chief Financial Officer, Kyle’s instincts and actions, in collaboration with Barry-Wehmiller’s senior leadership team, helped preserve the health of the organisation.
Kyle said: “In this new role as president, my focus will be to continue to build upon our foundation as a vibrant company known for our culture of care, our commitment to validating the trust our customers place in us and continuing to invest in market-driven innovation—while reinforcing our belief that the only way to lead is with people and performance in harmony.”
Barry-Wehmiller combines purposeful organic growth with a focused acquisition strategy, one that has already welcomed more than 110 companies into the organisation. The firm has been led by a Chapman since 1957, when William A Chapman became president after joining Barry-Wehmiller four years prior. Firm ownership transferred to the Chapman family in 1963, and Bill’s son, Bob, joined the company in 1969. After Bill’s sudden death in 1976, Bob became President, then CEO and Board chairman, and will remain in those roles, leading alongside Kyle.
Chief financial officer Michael Monarchi joins Barry-Wehmiller from Eaton, where, as vice president of Finance of the $2.5 billion hydraulics division, he helped drive financial and operational performance improvements, while guiding the business through a cultural transformation. Prior to Eaton, Monarchi worked for General Electric for more than 20 years, where he participated in the company’s financial management and corporate audit staff programs, and held numerous leadership positions in the power and aviation divisions. He was reportedly drawn to Barry-Wehmiller’s impressive growth trajectory, as well as its people-centric culture.
“Mike is a very forward-looking, operational finance executive, who has an incredible track record and history of success at both GE and Eaton,” said Kyle. “He will help visibly connect key strategic goals directly to our financial targets and accelerate many of our longer-term aspirations, while bringing a very human element to his role.”
“From my first interaction with Barry-Wehmiller, I’ve been really impressed with the focus on people, which is very unique in the business world,” said Monarchi. “The business is extremely well-positioned to continue on its upward trajectory, and I feel very fortunate to be part of this journey.”