Parker Hannifin Names Thomas Williams CEO

(RTTNews) - Parker Hannifin Corp (PH), a maker of motion and control technologies and systems, on Wednesday said its board has elected company veterans Thomas Williams as chief executive officer and Lee Banks as president and chief operating officer, effective February 1.

Donald Washkewicz, who served as CEO since 2001, chairman of the board since 2004 and president since 2006, will continue as chairman to allow for a smooth transition of his responsibilities. Williams and Banks have also been elected as members of Parker's board, effective immediately.

As an operating officer of the company since 2006, Williams has had leadership responsibility for the company's product groups including aerospace, filtration and engineered Materials, and the Asia Pacific and Latin America regional groups. Williams also oversees the company's strategic pricing initiatives.

Williams joined Parker in 2003 as vice president, Operations for the hydraulics group and in 2005 became president of the instrumentation group. Previously, he held a number of key management positions during a more than two decade career at General Electric.

Banks meanwhile began his career with Parker in 1991 and has also held increasingly responsible positions within sales and operations management. Banks has been an operating Officer of the company since 2006, with leadership responsibility for product areas such as filtration, engineered materials and instrumentation, and the Europe, Middle East and Africa, and Latin America regional groups.

"Over the past decade, both Tom and Lee have been exposed to the entire global organization, including broad executive leadership preparation and strategy development," said Washkewicz.

"They each bring significant experience with all of Parker's operating groups and have led the growth and development of Parker's position in emerging markets. They are supported by a strong management team, all with the common goal of driving outstanding results across Parker's businesses."

Parker-Hannifin makes motion and control technologies and systems for various mobile, industrial, and aerospace markets.