ConMet promotes Luke Penskar to executive vice president and chief strategy officer

VANCOUVER, Wash. - Nov. 5, 2026 - ConMet, a leading global supplier of components and technologies for the commercial vehicle industry, has promoted Luke Penskar to executive vice president and chief strategy officer. Penskar, who previously served as chief financial officer, will take on an expanded leadership role focused on the company's long-term strategy and continued growth while retaining oversight of its finance function.

In his new role, Penskar will assume broader responsibility for leading the business, partnering with ConMet President Chris Marr to shape strategic direction and drive execution across operations and commercial activities. He will work more closely with customers to advance growth, strengthen performance, and position ConMet for long-term success in the global commercial vehicle industry.

"Luke brings a strong combination of financial expertise, strategic thinking, and a deep understanding of our business," said Marr. "He has been an important part of ConMet's leadership team, helping us navigate complex decisions and identify opportunities for growth. I value his perspective and collaborative approach, and I'm excited to continue working alongside him as we build on ConMet's strong foundation and plan for the future."

Penskar joined ConMet in July 2018 as vice president of finance, overseeing financial operations across the company's global business. He was named chief financial officer in January 2022, expanding his responsibilities to include corporate development, mergers and acquisitions, and strategic planning. Throughout his tenure, he has supported ConMet's financial management and long-term business strategy, including planning and investment decisions across its global operations.

Before joining ConMet, Penskar held several positions with parent company Amsted Industries, beginning as treasury manager in 2015. He subsequently served as director of treasury and corporate treasurer, gaining experience in financial management and corporate finance across Amsted's portfolio of businesses.

Earlier in his career, Penskar held financial roles of increasing responsibility at W.W. Grainger and began his professional career as a civilian auditor with the U.S. Department of Defense's Office of Inspector General.

"ConMet's success comes from creating value for our customers - and as part of an employee-owned organization, that success creates lasting value for our employee owners," said Penskar. "I'm grateful for the opportunity to build on that legacy in this expanded role. My focus is on strengthening the business, supporting our teams, and delivering sustainable growth that advances our ESOP and the long-term financial well-being of our employee owners."

Penskar holds a degree in accounting from Michigan State University and is a certified public accountant.

The promotion follows Marr's recent appointment as president of ConMet, further aligning the company's executive leadership around its long-term strategic priorities.

About ConMet
ConMet, an Amsted Industries company, has been advancing the commercial vehicle industry since 1964. A leading global provider to original equipment manufacturers and aftermarket channels, ConMet delivers wheel ends, cast metal components, plastic systems, and active aerodynamic devices. Designed, engineered, tested, and manufactured in-house, ConMet's comprehensive portfolio is built to enhance vehicle efficiency, performance, and sustainability. Standard on most heavy-duty vehicles in North America, ConMet products are increasingly adopted in global markets.