New York, NY/Milwaukee, WI– Steel Partners Holdings L.P. (NYSE: SPLP) announced the appointment of Rich Ballenger as the President of Lucas-Milhaupt, succeeding John Ashe who will become CEO of IWCO Direct and Chairman of Lucas-Milhaupt. Rich has most recently served as Vice President and General Manager of Lucas-Milhaupt. He joined Lucas-Milhaupt in 2016 and has held roles in IT, Operations and Sales & Marketing. Prior to joining Lucas Milhaupt Rich was the Vice President of Sales and Engineering at MTE Corporation, a business unit of Steel Partners that provides power quality solutions for automation. Rich was with MTE from 2012 to 2016. He holds an MBA from Harvard University and a BS in Chemical Engineering from the University of Wisconsin.