HARTFORD, Conn. (AP) -- Diversified industrial manufacturer Ingersoll Rand Co. Ltd. said Monday that Michael Lamach has been appointed president and chief operating officer as he prepares to take the chief executive's post.
Herbert Henkel, chairman and CEO, has announced his intention to retire next year.
Lamach, who has been with Bermuda-based Ingersoll Rand five years, had been president of Trane Commercial Systems.
He was elected senior vice president of Ingersoll Rand and was appointed president of Ingersoll Rand's security and safety sector in February 2004. Lamach joined Ingersoll Rand after 18 years with Johnson Controls in the automotive and controls businesses.
Tony White, lead director of the board, said Lamach has taken the "first step in our effort to ensure a smooth transition upon the retirement of Herbert Henkel in 2010."
Shares rose 43 cents, or 2.5 percent, to $16.87 in afternoon trading.