Cooper Industries Appoints Hachigian as Chairman
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HOUSTON, Feb. 14, 2006 - Cooper Industries, Ltd. (NYSE:CBE) today announced that the Company's Board of Directors has elected Kirk S. Hachigian as chairman of the board, adding to his role as president and chief executive officer. Hachigian, 47, succeeds H. John Riley, Jr., who retires following a 43-year career with Cooper Industries.
Hachigian joined the Company in 2001 as executive vice president of Operations for the five Electrical Products business units that comprise the Company's unique Cooper Connection platform. In 2003, he assumed management responsibilities for all of Cooper's Electrical Products business units, and in November of the same year he was appointed chief operating officer. Hachigian was promoted to president and chief operating officer in August 2004 and was also elected to the board of directors. He was appointed chief executive officer in May 2005.
Prior to joining Cooper Industries, Hachigian served as president and chief executive officer of Asia Pacific Operations for GE Lighting. He additionally held a number of domestic and international assignments with GE in Singapore, Mexico City, Cleveland and its corporate headquarters in Fairfield, Conn. Before joining GE, Hachigian held management, sales and marketing positions with Oak Industries and was a consultant with Bain & Company.
Hachigian earned a Master of Business Administration degree from The Wharton School at the University of Pennsylvania, and a Bachelor of Science degree from the University of California.
About Cooper Industries
Cooper Industries, Ltd. is a global manufacturer of electrical products and tools, with 2005 revenues of $4.7 billion, approximately 30 percent of which are international sales. Incorporated in Bermuda with administrative headquarters in Houston, Cooper employs approximately 29,000 people and operates nine divisions: Cooper B-Line, Cooper Bussmann, Cooper Crouse-Hinds, Cooper Hand Tools, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Power Tools and Cooper Wiring Devices. Cooper Connection provides a common marketing and selling platform for Cooper's sales to electrical distributors. For more information, visit the website at www.cooperindustries.com.
