Colfax changes chief executive officer

From BusinessWeek: The president and CEO of Richmond-based Colfax Corp. has resigned from the company and was replaced yesterday by a member of its board of directors.

John A. Young, who had worked for Colfax since it was founded in 1995 and served as its president and chief executive since 2000, resigned "by mutual agreement with the board," company chairman Mitchell P. Rales said in a conference call with analysts.

Clay H. Kiefaber was named president and CEO, effective yesterday. Kiefaber has been a member of the company's board since the initial public offering of its stock in 2008.

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Colfax Corp. changes chief executive officer

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