RACINE, Wis. (AP) -- Modine Manufacturing Co. has announced that president and chief executive officer David B. Rayburn is retiring at the end of the month.
Rayburn worked for Modine for 17 years. He'll be succeeded by chief operating officer Thomas A. Burke as of April 1.
The Racine-based company produces equipment that's used in heating and cooling systems. Modine had revenue of $1.7 billion in fiscal 2007.
Modine has 8,500 employees in 15 countries.
Shares in the company were up 64 cents, or 5.1 percent, to $13.21 in morning trading Thursday.
