Parmentier will succeed Thomas L. Williams as Chief Executive Officer and will report to the Board of Directors. Williams has served as Chief Executive Officer since 2015 and Chairman of the Board since 2016. To ensure a smooth transition of his responsibilities, Williams plans to continue as Executive Chairman from
“Jenny and Andy bring extensive experience across Parker’s operating groups and regions, and each is a strong advocate for the power of The Win Strategy in driving our operations to record performance and growth,” said Williams. “Together with
“In coordination with the Board, I have been planning this transition for many years and believe this is the right time to step down from the CEO position. It has truly been an honor to lead this great company. As I reflect on my tenure as CEO, I am most grateful for the dedication and ownership of our team members globally. No matter where I am in the company, I have always felt your encouragement and full support. I’m proud of our work together to make Parker one of the safest places to work, our achievement of top quartile performance and the alignment of our entire organization around our purpose as a platform for growth, change and positive impact. Our new leadership team is backed by a deep, talented, and highly engaged global team. Parker has a very promising future ahead.”
Commenting on the leadership transition, Lead Director
“Under Tom’s leadership, Parker is a company transformed through both a significant improvement in its performance and a significant reshaping of its portfolio. Through strong cash generation and effective deployment of capital, Parker’s portfolio of businesses has been strengthened and strategic acquisitions have returned value to shareholders in the form of higher margins, and a higher growth profile of businesses serving longer cycle end markets. Importantly, the company has also driven top quartile levels of engagement among team members across the world, inspired by the introduction of the Parker purpose statement, a focus on safety, and the deployment of high-performance teams. Tom’s leadership legacy at Parker will last well beyond the years he spent as CEO.”
Parmentier became Chief Operating Officer in 2021 with responsibility for all of Parker’s operating groups. Previously, she was Vice President and President –
“It’s an exciting time to take on the leadership of Parker with its rich history of success,” said Parmentier. “My goal will be to continue to build upon the tremendous work and momentum that Tom, Lee and our global team have set in motion. This will include an ongoing focus on the key principles of The Win Strategy, which will be the foundation for us to achieve our five-year goals. It’s a great time to lead Parker to our next level of engagement, customer experience, growth and performance, all while our people and technologies make the world a better place.”
Ross has extensive operational leadership experience across Parker’s operating groups during his 24-year career with the company. He has been Vice President and President –
“I’m very excited to partner with Jenny, Lee and Todd and the entire leadership team as we collaborate to help Parker achieve its goals,” said Ross. “The operational improvements that Tom and Lee have established have led to historic levels of company performance. Yet we still see opportunities and our plan will be to continue striving for operational excellence across all of our businesses with the support of our engaged and talented global team members.”
About Parker Hannifin
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 66 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.
Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as “anticipates,” “believes,” “may,” “should,” “could,” “expects,” “targets,” “is likely,” “will,” or the negative of these terms and similar expressions, and include all statements regarding future performance, earnings projections, events or developments. Neither Parker nor any of its respective associates or directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance and earnings projections of the company, including its individual segments, may differ materially from past performance or current expectations.
Among other factors which may affect future performance are: the impact of the global outbreak of COVID-19 and governmental and other actions taken in response; changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms or significant changes in financial condition, changes in contract cost and revenue estimates for new development programs and changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the integration of
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Source: Parker-Hannifin Corporation