CLEVELAND, March 11 /PRNewswire-FirstCall/ -- Parker Hannifin
Corporation (NYSE: PH), the world leader in motion and control
technologies, named Michael Chung, age 44, as President of the company's
Asia Pacific Group and an Officer of the company. Chung replaces Joe Vicic,
age 62, who will retire October 1, 2008, after more than 41 years. Chung
will transition to lead the Asia Pacific Group over the next several
months. After the transition, Joe Vicic will focus on providing additional
leadership to acquisition and alliance activities in the Asia Pacific
region until his retirement.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO )
As leader of Parker's Asia Pacific Group, Chung will be responsible for
growing sales of all of Parker's technologies and products in this
important region. Chung had been Vice President of Operations for
Hydraulics in Asia Pacific prior to being appointed to his new position. He
also has served as Country Managing Director and as General Manager for
Korea. Chung has served in positions of progressively greater
responsibility in Applications Engineering and Sales since starting with
Parker in 1986. He is a graduate of Carnegie Mellon University where he
earned a Bachelors degree in Electrical Engineering. He also completed the
Advanced Management Program at Harvard University.
"We are excited to have someone of Michael's background and experience
to assume this key leadership role and are confident that he will continue
the success and growth of our Asia Pacific region," said Tom Williams,
Senior Vice President and Operating Officer.
Vicic's career with Parker began in August 1967 as a Sales Trainee at
the Pneumatic Division. He progressed through several sales and marketing
positions in Fluid Power, Fluid Connectors, and Aerospace. In 1981, Vicic
became General Manager of Singapore then in 1988 became General Manager of
Canada. From 1990 to 1994 he was Group Vice President of Marketing for the
Seal Group. From 1994 to the present, Vicic has been President of the Asia
Pacific Group.
"We thank Joe for his leadership throughout his career and particularly
his success in growing the Asia Pacific region. Joe has built a strong team
and business strategy that will continue our rapid growth by improving the
productivity and profitability of our customers," said Williams.
With annual sales exceeding $10 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 57,000 people in 43 countries around the world. Parker has
increased its annual dividends paid to shareholders for 51 consecutive
years, among the top five longest-running dividend-increase records in the
S&P 500 index. For more information, visit the company's web site at
http://www.parker.com, or its investor information site at
http://www.phstock.com.
SOURCE Parker Hannifin Corporation
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Related links:
http://www.parker.com
http://www.phstock.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/19990816/PHLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Media, Christopher M. Farage, Vice President,
Corp. Communications, +1-216-896-2750, cfarage@parker.com, or
Financial Analysts, Pamela Huggins, Vice President & Treasurer,
+1-216-896-2240, phuggins@parker.com, both of Parker Hannifin
Corporation
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