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Hillenbrand (HI) CEO Kenneth Camp retiring, Joe Raver to take over in September

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BATESVILLE, Ind. (AP) -- Hillenbrand Inc. said Wednesday that President, CEO and Director Kenneth Camp is retiring.

The industrial products company said Joe Raver, another company executive, will take over.

Camp will step down on Sept. 6 to aid in the transition and retire at the end of 2013.

Hillenbrand said Camp helped transform the company from a $650 million casket company serving North America to a $1.6 billion global diversified industrial company. He has worked for the company for 32 years and assumed his current role in 2008.

The company, based in Batesville, Ind., makes an array of industrial equipment, including products for the funeral industry.

Raver is president of the Process Equipment Group in Europe for Hillenbrand, a position he has held since 2011. He will continue in that role until this summer.

It is not the first time that Raver has followed in Camp's footsteps. He succeeded Camp as president of Batesville Casket Company in 2008, when Camp assumed his current role at Hillenbrand.

Hillenbrand shares rose 13 cents to close at $25.09.regio

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