CLEVELAND, Oct. 24 -- Parker Hannifin Corporation (NYSE: PH) today announced that its Board of Directors has named Marwan M. Kashkoush, 53, to the position of Executive Vice President - Sales, Marketing and Operations Support. Mr. Kashkoush will also be a member of Parker's Office of the Chief Executive, which includes Don Washkewicz, CEO, Chairman and President, and Tim Pistell, Executive Vice President, Finance and Administration and Chief Financial Officer. In this position, he will replace Jack Myslenski, who has announced plans to retire from the company in April 2008 following a thirty four-year career.
Mr. Kashkoush has served Parker in a variety of sales, marketing, and operations assignments. Most recently he was Corporate Vice President, Worldwide Sales and Marketing. For three years, from 2000 to 2003, he headed one of the company's largest technology groups as Group President, Hydraulics.
Before heading the global hydraulics business, he worked as President, European Hydraulics Operations and as Group Vice President of Sales and Marketing, Hydraulics. Beginning his career in 1977 following graduation from New York State University College at Buffalo as a Bachelor of Science in Industrial Technology, he later earned an Executive MBA from Michigan State University. Mr. Kashkoush's recent leadership assignments and responsibilities in the course of his thirty-year career with the company were undertaken during the rapid expansion and sales growth for Parker. The company's sales grew from just over four billion dollars in the late nineties to more than $10 billion for the fiscal year ending June 30, 2007.
"I'm very pleased that a seasoned executive with long experience in sales, marketing and operations management that Marwan brings to his new position is available from within Parker to lead a function which is key to the continued growth of the company," said Don Washkewicz, Chairman, CEO and President of Parker. "The depth and strength of our executive talent makes Marwan's appointment possible, and I welcome our continuing opportunity to work together," said Washkewicz.
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 www.parker.com/, or its investor information site at www.phstock.com/.
SOURCE: Parker Hannifin Corporation
Christopher M. Farage
Vice President - Corp. Communications
Web site: http://www.phstock.com/