CLEVELAND, Jul 18, 2003 /PRNewswire-FirstCall via COMTEX/ -- The Board of Directors of Parker Hannifin Corporation (NYSE: PH) today elected Craig Maxwell, age 45, vice president of technology & innovation, effective immediately. The promotion reflects the company's effort to increase its capacity for organic growth through innovative systems engineering and product development.
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"Craig is a proven innovator who has led some of our most successful business-development initiatives," said Parker CEO Don Washkewicz. "Through his leadership, Parker is positioned to be the premier system supplier and technology leader in all the markets we serve."
Maxwell said, "Parker has a long history of innovation in the markets we serve, and the objective of the growth phase of our Win Strategy is to take that to the next level. We have a tremendous opportunity to leverage our broad technology base and knowledge to serve customers in existing and emerging markets worldwide, and I am honored to lead this effort."
Craig Maxwell joined Parker in 1996 as manager of new business development for the Racor filtration division and progressed to positions of greater responsibility, including serving as engineering manager before establishing the company's fuel cell systems business unit. Maxwell began his engineering career in 1981 after earning bachelor of science in industrial technology from Central Connecticut State University.
With annual sales exceeding $6 billion, 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 commercial, mobile, industrial and aerospace markets. The company employs more than 48,000 people in 44 countries around the world. For more information, visit the company's web site at www.parker.com , or its investor information site at www.phstock.com .
SOURCE Parker Hannifin Corporation
Media, Lorrie Paul Crum, VP - Corp. Communications,
+1-216-896-2750, or
Financial Analysts, Pamela Huggins, Vice President -
Treasurer, +1-216-896-2240, both of Parker Hannifin Corporation
http://www.phstock.com
