Graco disclosed the move in a Friday filing with the Securities and Exchange Commission, noting that Carter stepped down to focus on other professional commitments. The Minneapolis-based industrial giant emphasized that his resignation was amicable and did not involve disagreements regarding operations, policies, or practices.

Committee Vacancies and Term Impact

Before his departure, Carter held key roles on the board’s audit committee and the management organization and compensation committee. His exit leaves a gap in the oversight of the company's financial and executive pay structures well ahead of his scheduled term expiration at the 2027 annual shareholder meeting.

Graco has not yet named a successor or detailed plans for filling the vacant committee seats. The company remains a major player in fluid handling systems and equipment for various global industries.