Ingersoll-Rand Names Black as CEO-Designate

Ingersoll-Rand Co. has named Theodore H. Black chairman and chief executive, effective Oct. 1. Current chairman Thomas A. Holmes, who has headed the company since January, 1981, plans to retire Sept. 30.

Black, 59, had been president and chief executive of Dresser-Rand Co., a joint venture of Ingersoll-Rand Co. and Dresser Industries. He was elected president and chief operating officer of Ingersoll-Rand in February.

Ingersoll-Rand, with headquarters in Woodclife Lake, N.J., is a leading manufacturer of industrial machinery, construction equipment, bearings, door hardware and security systems. The company, which reported sales last year of $2.6 billion, employs 30,000 people in 72 plants in the United States and other countries.