NEW YORK — Douglas Ralph, chief financial officer and senior vice president of Carpenter Technology Corp., will retire in August 2013, the company announced Friday.

Ralph, who joined Carpenter in July 2007, will continue in his current role through the hiring and orientation of a new chief financial officer, a process that has already begun, the Wyomissing, Pa.-based company said.

"I and the rest of the Carpenter team appreciate Doug’s commitment to ensure a smooth transition, and (we) are thankful for his many outstanding contributions during his tenure," president and chief executive officer William Wulfsohn said in a statement.