Parker Elects Stryker CEO Kevin Lobo to Board of Directors
Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today announced the election of Kevin A. Lobo to its Board of Directors, effective August 1, 2013, for a term expiring in October 2013, at which time the entire Board will stand for election to a one year term at the Annual Meeting of Shareholders.
Mr. Lobo is currently President and Chief Executive Officer of Stryker Corporation, a leading medical technologies company that offers a diverse array of reconstructive, medical and surgical, and neurotechnology and spine products headquartered in Kalamazoo, Michigan. Mr. Lobo joined Stryker in April 2011, and served as Group President, Orthopaedics, where he had responsibility for the Reconstructive, Trauma & Extremities, Joint Preservation, Orthobiologics and Performance Solutions businesses. He became President and Chief Executive Officer in October 2012 and is also a member of the Stryker Board of Directors.
"We are pleased to welcome Kevin Lobo to our Board and look forward to his insights and counsel," said Chairman, CEO and President Don Washkewicz. "Kevin has extensive experience leading large and diversified multi-national corporations in the medical technology industry, and his expertise will add significant value, particularly as Parker expands its presence in life sciences and related markets."
Prior to joining Stryker, Mr. Lobo held several senior leadership roles at Johnson & Johnson, including Worldwide President of Ethicon Endo-Surgery. Prior to that, he served as President of J&J Medical Products Canada and as Vice President of Finance for McNeil Consumer and Specialty Pharmaceuticals and Ortho Women's Health & Urology. His experience also includes positions with Rhone-Poulenc in North America and Europe, as well as Kraft and KPMG in Canada.
With annual sales of $13 billion in fiscal year 2012, 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 mobile, industrial and aerospace markets. The company employs approximately 60,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 57 consecutive fiscal 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 web site at www.phstock.com.
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