Eaton Combines Automotive, Truck Groups; Joseph P. Palchak Named President of New Vehicle Group
06 Luglio 2009 - 5:50PM
Business Wire
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN)
announced today that Eaton�s Automotive and Truck Groups are being
consolidated into one operating unit. The combined organization
will be known as the Vehicle Group and will be led by Joseph P.
Palchak, current president of the Automotive Group. The new Vehicle
Group will continue to report into the Industrial Sector, along
with Eaton�s aerospace and hydraulics businesses.
�As our truck and automotive operations continue to expand into
global markets, it�s critical that we leverage the natural
synergies that exist between the two businesses,� said Craig
Arnold, vice chairman and chief operating officer of Eaton�s
Industrial Sector. �In today�s challenging business environment, we
must identify opportunities to reduce costs, develop technologies,
build global capacity, and more effectively cross-market our
products and solutions.�
Palchak served as the president of Eaton�s automotive business
since June, 2008. Prior to that, he led the Automotive Group�s
Engine Air Management business since 2005 and previously was
president of Eaton�s Powertrain and Specialty Controls operations.
Since joining Eaton in 1973, he has held numerous assignments
within its automotive and truck businesses. Palchak earned a
bachelor�s degree in business from Susquehanna University in
Pennsylvania and a master�s in business administration from the
University of Louisville.
�Joe�s significant leadership experience and successful track
record within our automotive business, and his prior years in the
truck organization, will serve us well as Eaton addresses the
challenges within the global commercial and passenger vehicle
industry,� said Arnold.
Externally, Eaton will continue to report financial results for
six segments. They are: Electrical Americas, Electrical Rest of the
World, Hydraulics, Aerospace, Truck and Automotive.
Eaton Corporation 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. For more
information, visit www.eaton.com.
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