Parker Hannifin Corp., Cleveland, recently announced that Thomas L. Williams will become its Chief Executive Officer and Lee C. Banks will become President and Chief Operating Officer effective February 1, 2015. Donald E. Washkewicz, who served as Chief Executive Officer since 2001, Chairman of the Board since 2004, and President since 2006, will continue as Chairman of Parker's Board of Directors. Williams and Banks have also been elected as members of the board, effective immediately.
the Board of Directors.
"Over the past decade, both Tom and Lee have been exposed to the entire global organization, including broad executive leadership preparation and strategy development," said Washkewicz. "They each bring significant experience with all of Parker's operating groups and have led the growth and development of Parker's position in emerging markets. They are supported by a strong management team, all with the common goal of driving outstanding results across Parker's businesses."
As an Operating Officer of the company since 2006, Williams has had leadership responsibility for the Aerospace, Filtration, Engineered Materials, Instrumentation, Climate and Industrial Controls, Hydraulics, Fluid Connectors, and Automation product groups and the Asia Pacific and Latin America regional groups. He also currently oversees the company's strategic pricing initiatives.
Williams joined Parker in 2003 as Vice President, Operations, for the Hydraulics Group, and in 2005 became President of the Instrumentation Group. Previously, he held key management positions in four different business groups during a 22-year career at General Electric. He serves on the Board of Directors for Chart Industries, an independent global manufacturer of highly engineered equipment.
Williams earned a Bachelor of Science degree in Mechanical Engineering from Bucknell University and a Master of Business Administration from Xavier University. "I am honored and excited to accept this new role as Chief Executive Officer of Parker and will focus on continuing to build on its strong foundation, momentum, customer focus and innovative mindset," he said.
As an Operating Officer of the company since 2006, Banks has had leadership responsibility for the Filtration, Engineered Materials, Instrumentation, Climate and Industrial Controls, Hydraulics, Fluid Connectors and Automation product groups and the Europe, Middle East and Africa, and Latin America regional groups. Previously, he was the President of Parker's Hydraulics and Instrumentation product groups and was Vice President of Operations in the Climate and Industrial Controls Group.
Banks began his career with Parker in 1991 and has also held increasingly responsible positions within sales and operations management including several division general manager positions. He serves on the Board of Directors of Nordson Corporation, a provider of precision dispensing equipment for industrial coatings.
Banks has a Bachelor of Arts degree in Economics from DePauw University and a Master of Business Administration from The Keller Graduate School of Management in Chicago. "I look forward to leading Parker's global operations," said Banks.
Parker Hannifin achieved annual sales exceeding $13 billion in fiscal year 2014. A manufacturer of motion and control technologies and systems, Parker provides engineered solutions for a wide variety of mobile, industrial, and aerospace markets. The company employs approximately 57,500 people in 50 countries.
For more information, visit the company's website at www.parker.com.