Baldor Electric’s chief executive officer John McFarland is stepping down on December 31, 2010, to be succeeded by Ronald Tucker, currently the company’s president and chief operating officer. McFarland, who has been with Baldor for 40 years, will stay on as executive chairman and keep his position as chairman of the company’s executive committee.

“With sales growing and operating profits at record margins, this is the right time for me to step back from the day to day operations,” says McFarland (above). “During 2011, I will work a reduced schedule and focus my time on growth opportunities for Baldor.”

Tucker (above) has been with Baldor for more than 24 years and has had responsibility for various aspects of the business, including finance, manufacturing, and international sales and operations. He will be Baldor’s sixth CEO in its 90-year history.

“Ron and I have worked closely together for many years, so his transition to CEO will be a smooth one for the company,” says McFarland. “I respect Ron and have great confidence in his ability to lead Baldor in the years ahead.”