Tom VerHage, Vice President and CFO, leaving Company on October 31st;
Jim Shaw promoted to Vice President and CFO effective November 1st
Donaldson Company, Inc. (NYSE: DCI), announced today, as part of its
ongoing officer succession planning process, that Thomas R. VerHage,
Vice President and Chief Financial Officer, will leave the Company on
October 31st. VerHage, 58, joined Donaldson in 2004 in his
current role with responsibility for Donaldson's global finance
organization. During VerHage's tenure, he led the implementation and
ongoing compliance with the Sarbanes-Oxley legislation, improved the
forecasting, annual planning and budgeting processes, and helped to
ensure the effective integration of acquisitions including Western
Filter, Aerospace Filtration Systems, Triboguard, and LMC West.
As part of the succession planning process, James F. Shaw will be
promoted to Vice President and Chief Financial Officer effective
November 1st. Shaw, 42, is currently Corporate Controller and
Principal Accounting Officer. Shaw joined Donaldson in 2004 as Director
of Corporate Compliance/Internal Audit. In his current role, Shaw is
responsible for worldwide financial reporting, budgeting and analysis,
and the development and management of the Company's financial controls
and policies. Prior to joining Donaldson, Shaw was a Senior Audit
Manager at Deloitte & Touche, LLP, where he was the lead auditor for a
number of large multi-national companies. Shaw also spent time as an
auditor at Arthur Anderson, LLP. Shaw is a Certified Public Accountant
and holds a Bachelor of Arts degree in Accounting from St. John's
University, Collegeville, Minnesota.
"I would like to thank Tom for his dedication and leadership during a
very 'exciting' time for both our Finance organization and our Company,"
said Bill Cook, Chairman, President and CEO. "Tom joined us as I was
assuming the CEO role and as Donaldson was preparing for the
implementation of the Sarbanes-Oxley legislation. As a member of my
senior team, Tom also played a key role in helping to successfully lead
our Company through the recent recession, from which we emerged better
and stronger than when we went in and well positioned to execute our
Strategic Growth Plans. I wish him continued success in his current
Board positions and future business opportunities."
"A critical success factor for achieving our long-term Strategic growth
objectives is to develop leaders. Jim Shaw is a great example of our
development success as he has demonstrated his leadership capabilities
and delivered results in the many areas of our Finance organization that
he has already led. In his new position, Jim's combination of skills and
experience are well-suited to leading the ongoing development of our
global Finance organization and will make him a valuable member of my
senior leadership team."
About Donaldson Company, Inc.
Donaldson is a leading worldwide provider of filtration systems that
improve people's lives, enhance our Customers' equipment performance,
and protect our environment. We are a technology-driven Company
committed to satisfying our Customers' needs for filtration solutions
through innovative research and development, application expertise, and
global presence. Our 12,800 employees contribute to the Company's
success by supporting our Customers at our more than 100 sales,
manufacturing, and distribution locations around the world.
Donaldson is a member of the S&P MidCap 400 and Russell 1000 indices,
and our shares trade on the NYSE under the symbol DCI. Additional
information is available at www.donaldson.com.
Donaldson Company, Inc.
Rich Sheffer, 952-887-3753
Jul 05, 2011