Barry-Wehmiller has promoted Kyle Chapman to president and appointed Michael Monarchi as chief financial officer as the company makes strategic leadership moves for planned growth while strengthening its culture.
Kyle Chapman joins his father, CEO and board chairman Robert Chapman, in the leadership of the 135-year-old manufacturing and engineering firm. As he steps into his new role after serving as Barry-Wehmiller’s interim chief financial officer for much of 2020, the organization also welcomes Michael Monarchi as its new 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 Robert Chapman. ‘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 Chapmans’s tenure with Barry-Wehmiller began in 2009 when he co-founded BW Forsyth Partners, Barry-Wehmiller’s hybrid equity firm. His involvement with the company 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 and related global market uncertainty escalated shortly after being appointed as an interim chief financial officer, his instincts and actions, in collaboration with Barry-Wehmiller’s senior leadership team, helped preserve the health of the organization.
‘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,’ commented Kyle Chapman.
Barry-Wehmiller combines purposeful organic growth with a focused acquisition strategy, one that has already welcomed more than 110 companies into the organization. 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.
The company has also appointed Michael Monaco as a new chief financial officer. He joins from Eaton, where, as vice president of finance 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.
‘Mike is a very forward-looking, operational finance executive, who has an incredible track record and history of success at both GE and Eaton,’ commented Kyle Chapman. ‘He will help visibly connect key strategic goals directly to our financial targets and accelerate many of our long-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,’ added Monarchi. ‘The business is extremely well-positioned to continue on its upward trajectory, and I feel very fortunate to be part of this journey.’