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|Parker Elects Robert G. Bohn and Ake Svensson to Board of Directors|
CLEVELAND, Aug 19, 2010 /PRNewswire via COMTEX/ --
Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced the election of Robert G. Bohn and Ake Svensson to its Board of Directors for terms expiring in October 2010, at which time the entire Board will stand for election to a one year term at the Annual Meeting of Shareholders.
Mr. Bohn is currently Chairman and Chief Executive Officer of Oshkosh Corporation, a leading global designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire and emergency and military vehicles and vehicle bodies. Oshkosh Corporation (NYSE: OSK) recorded fiscal 2009 revenue of $5.3 billion and employs approximately 12,600 people worldwide. Mr. Bohn became CEO of Oshkosh in 1997 and was elected Chairman in 2000. Prior to becoming CEO, Mr. Bohn served as President and Chief Operating Officer for Oshkosh. Mr. Bohn has extensive experience in growth strategy development and execution, international market development, acquisitions integration, and maximizing operational efficiency. He also serves as a director for Menasha Corporation and Carlisle Companies, Inc.
Mr. Svensson is currently President and Chief Executive Officer of Saab AB, a leading manufacturer in the field of aeronautics, dynamics, electronic defense systems, security and defense solutions, support and services headquartered in Stockholm, Sweden. Saab AB has annual sales of 24.6 billion Swedish Kronor (approximately $3.3 billion) and 13,000 employees. Mr. Svensson has been the CEO of Saab AB since July 14, 2003. He has served as Senior Vice President of Saab Aerospace business area and prior to that was general manager of the Future Products and Technology business unit of Saab AB. Mr. Svensson has served on the Board of Directors of Micronic Mydata AB since April 2009 and of Saab AB since July 2003. In September 2010 he will take on a new position as Director General of Teknikforetagen (the Association of Swedish Engineering Industries) and at the same time retire as CEO of Saab AB.
"We are pleased to welcome Bob Bohn and Ake Svensson to our Board and look forward to their insights and counsel," said Chairman, CEO and President Don Washkewicz. "Both Bob and Ake have extensive knowledge of our core markets and their operational experience will make them valuable representatives of our shareholders as independent directors."
With annual sales of $10 billion in fiscal year 2010, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 55,000 people in 46 countries around the world. Parker has increased its annual dividends paid to shareholders for 54 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's web site at http://www.parker.com, or its investor information web site at http://www.phstock.com.
SOURCE Parker Hannifin Corporation