Cretex Companies Announces New CFO – Ragaller to Retire; Lunger Joins Cretex Team

ELK RIVER, Minnesota, March 5, 2021 – Cretex Companies has announced the retirement of CFO Steve Ragaller. Scott Lunger joined the company in January and will succeed Ragaller. The two have been working closely to ensure a smooth transition.

“I would like to thank Steve for being a great business partner over the past 14 years. Steve has built an outstanding finance organization, and his contributions extend to all areas of the company,” said Jeff Wollerman, CEO of Cretex. During Ragaller’s tenure, Cretex successfully transformed from an infrastructure company to a global leader in medical device contract manufacturing. Wollerman stated, “Steve has been a critical part of this transformation. I wish Steve and his wife Betty the best of luck and thank them for all their contributions.”

“Throughout the recruiting process, cultural fit with our company, executive team, family shareholders and Board of Directors was a top priority. We could not be happier to have Scott join Cretex,” Wollerman added. Lunger joined Cretex from Pentair, where he served as the VP of Finance of their Consumer Solutions Group. His prior experience includes CFO roles with public and private companies including Ergotron, Nilfisk-Advance, and Electrolux. Lunger brings a strong manufacturing background and versatile skillset to the Cretex team with an MBA in Finance and Accounting from the University of Notre Dame and a Bachelor of Science with a focus in Operations and Finance from Indiana University.

“I’m thrilled to be part of the Cretex team,” said Lunger. “Cretex is truly committed to the ideals of their founders, providing best-in-class and reliable services to their customers, and cultivating stable businesses in their communities. I look forward to contributing to the continued success and future growth of Cretex,” added Lunger.

About Cretex

Cretex Companies (www.cretex.com) has been privately owned by the same family for over 100 years. Headquartered in Elk River, Minnesota, Cretex employs over 2,000 team members at facilities in Minnesota, California, and Wisconsin. Under the Cretex Medical brand, the company’s subsidiaries JunoPacific, Meier, QTS, rms Company, rms Surgical, and Spectralytics provide contract manufacturing and engineering services to medical device manufacturers (OEMs). Cretex Materials and Cretex Specialty Products are leaders in the infrastructure industry. The companies are guided by a common management system, shared set of values, and focus on operational excellence.