Colfax’s president and CEO Clay Kiefaber, 56, has left the company in order to serve as chief executive officer of ESAB, a welding and cutting business acquired by Colfax in January. The acquisition of ESAB nearly tripled Colfax’s total business and increased its total revenue to $4 billion.

Steven Simms, also 56, was named as the new CEO of Colfax. Simms currently serves as director on Colfax’s board. With over 20 years of senior executive experience, Simms was executive vice president of Danaher Corp. for 11 years and previously worked at Black & Decker Corp. as president of its European operations.

Kiefaber was named CEO of Colfax in 2010 after spending 20 years at Masco Corp. He will remain company director and executive vice president of Colfax.

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