Danaher CEO Lawrence Culp To Retire Next March, Names Thomas Joyce Successor

(RTTNews) - Danaher Corp. (DHR) said Wednesday that its Executive Vice President Thomas Joyce, Jr. will succeed Lawrence Culp, Jr. as president and chief executive officer upon Culp's retirement on March 1, 2015.

Culp will continue at Danaher in an advisory role into the first quarter of 2016.

Chairman Steven Rales said, "The selection of Tom to succeed Larry next year reflects the culmination of our succession planning process. Tom has a demonstrated track record of success in a wide range of positions at Danaher over the past 25 years, and he is well qualified to lead our continued growth and development."

Joyce began his career at Danaher in 1989 as a marketing project manager in the Danaher Tool Group. In 1995, he became president of Delta Consolidated Industries, a truck box and storage container manufacturer.

Following that assignment, in 2001, Joyce became president of Hach Company, the global leader in water analytics, and the next year he was appointed group executive and a corporate officer of Danaher.

In 2006, Joyce was promoted to executive vice president, and today has responsibility for Danaher's Water Quality, Life Sciences and Diagnostics platforms, which collectively represent over $9 billion of annual revenues.

Washington-based Danaher manufactures professional, medical, industrial, and commercial products and services.