CLEVELAND, October 29, 2014 - Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today announced that Peter Popoff, Vice President and President - Filtration Group, age 62, will retire effective February 1, 2015, after 36 years of dedicated service to Parker.
"Pete has contributed so much to the success and growth of Parker's filtration platform," said Tom Williams, Executive Vice President and Operating Officer. "He has played a lead role in the establishment of what is a truly global, market leading filtration business for Parker that has the scale to make a meaningful contribution to our growth and profitability. His presence among us as a friend and colleague will be missed."
Mr. Popoff's career began in 1979 with Racor brand filters and he served in engineering management positions before being named general manager of Racor in 1987. Parker acquired Racor in 1985. Subsequently, he became Vice President and General Manager of Parker Racor globally before becoming Vice President of Operations for the Filtration Group in 2006. In 2008, he became a corporate officer and was named Vice President and President - Filtration Group. He holds a Bachelor of Science degree in Industrial Technology from California State University at Chico. Among many accomplishments, Mr. Popoff is noted for his dedication to serving Parker's customers, his focus on growth and innovation and his efforts to establish Parker's filtration business globally. He had the foresight to organize the group into seven global strategic platforms, which allowed the group to optimize engineering, business development and operations. From a leadership perspective, he will be remembered for his focus on results, his drive for continuous improvement, and for his example in upholding Parker's values.
With annual sales exceeding $13 billion in fiscal year 2014, 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 57,500 people in 50 countries around the world. Parker has increased its annual dividends paid to shareholders for 58 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 website at www.parker.com, or its investor information website at www.phstock.com.
Aidan Gormley, Director, Global Communications and Branding