Crain's Detroit: Tecumseh Products Company stock rises as chairman resigns
Lizzy Alfs | AnnArbor.com file photo
Kent Herrick, the great-grandson of company founder Ray Herrick, had served as chairman since August 2009.
Tecumseh Products manufactures compressors for various types of cooling units including specialty air cooling systems. The company employs approximately 7,300 people worldwide.
The company moved its headquarters from Tecumseh to Pittsfield Township in 2008 and opened a new 35,000-square-foot technology center in May 2012. The company’s stock was up more than 10 percent as of 9:45 Tuesday morning on the news of a change in leadership.
The company also announced the release of its next generation outdoor condensing unit on Tuesday. According to a news release, applications for the unit include walk-in coolers freezers for commercial markets.