 Alexander M. Cutler, Eaton chairman and chief executive officer,
said that Thomas S. Gross, 54, has been named vice chairman and
chief operating officer of the Electrical Sector. Gross will succeed
Randy W. Carson, 58, chief executive officer of the present
Electrical Group, who has announced his decision to retire at the
end of April. Craig Arnold, 48, has been named vice chairman and
chief operating officer for the Industrial Sector, which is being
formed by combining Eaton's aerospace, automotive, hydraulics and
truck businesses.
Additionally, Cutler announced that Richard H. Fearon, 52, has
been named vice chairman and chief financial and planning officer
for Eaton. Fearon had been executive vice president and chief
financial and planning officer.
"As the company grows, we need to develop our organizational
structure to help accelerate growth, identify synergies, drive
common practices and build broad, global capability," Cutler said.
"We are fortunate to have global leaders like Tom Gross, Craig
Arnold and Rick Fearon who are committed to working together to
achieve our future goals.
"Much of the growth in our electrical business, which propels our
move in this direction, is due to the contributions of Randy
Carson," Cutler added. "Over the past nine years, Randy has taken
our electrical business from a North American business of $2.2
billion to a major global enterprise of $7 billion. He led
significant improvements in performance and attracted key talent to
Eaton. He was also instrumental in creating a growth culture within
the business. Eaton will also benefit from his close relationships
with key customers well into the future. We all wish him the very
best in his retirement."
Carson will continue to report to Cutler and assist with the
transition until his retirement.
Cutler also announced that beginning in 2009, Eaton will report
financial results externally for six segments: Electrical Americas,
Electrical Rest of the World, Hydraulics, Aerospace, Truck and
Automotive.
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Following the reorganization, Cutler's direct reports will be
Arnold, Fearon and Gross, as well as Susan J. Cook, executive vice
president and chief human resources officer; Richard D. Holder,
executive vice president of Eaton Business System; and Mark M.
McGuire, executive vice president and general counsel.
Reporting to Arnold in the Industrial Sector will be Joseph P.
Palchak, president of the Automotive Group; James E. Sweetnam,
president of the Truck Group; William R. VanArsdale, president of
the Hydraulics Group; and Bradley J. Morton, president of the
Aerospace Group.
The Electrical Sector will be organized by geographic region.
Reporting to Gross will be Jerry R. Whitaker, president of the
Electrical Americas Region; Frank C. Campbell, president of the
Electrical Europe, Middle East and Africa Region; and J. Kevin
McLean, president of the Electrical Asia Pacific Region.
Eaton Corp. is a diversified power management company with 2008
sales of $15.4 billion. Eaton is a global technology leader in
electrical components and systems for power quality, distribution
and control; hydraulics components, systems and services for
industrial and mobile equipment; aerospace fuel, hydraulics and
pneumatic systems for commercial and military use; and truck and
automotive drivetrain and powertrain systems for performance, fuel
economy and safety. Eaton has approximately 75,000 employees and
sells products to customers in more than 150 countries.
[Text from file received from
Business Wire]
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