Donaldson Company, Inc. (NYSE: DCI), announced today that Tod Carpenter,
55, currently the Company's Chief Operating Officer (COO), has been
named President and Chief Executive Officer (CEO), effective April 1,
2015.
As part of the CEO succession process developed by the Donaldson Board
of Directors, current Chairman, President and CEO Bill Cook will remain
Chairman of the Board. Cook, 61, has been Chairman, President and CEO of
the Company since 2005.
Carpenter was named COO last February. Since joining the Company in
1996, he has held various operations, sales, and managerial roles in the
U.S. and Europe, serving as a General Manager; Vice President, Global
Industrial Filtration Solutions; Vice President, Europe; and Senior Vice
President, Engine Products. Prior to joining Donaldson, he worked at
York & Associates and the Hughes Aircraft Company. Carpenter holds a
Bachelor's Degree in Manufacturing Technology from Indiana State
University, an MBA from Long Beach State University, and completed the
Minnesota Executive Program at the University of Minnesota's Carlson
School of Management.
"Tod's appointment is part of our ongoing executive development and CEO
succession process, which our Board has been actively engaged in for
several years. Our management succession plans help ensure that our
leadership team always has the experience and knowledge to effectively
manage our Company for the benefit of our Shareholders and Customers,"
said Cook. "During his almost two decades at our Company, Tod has
demonstrated a passion for our business, a strong Customer orientation,
and a keen focus on delivering financial results. I have worked closely
with Tod throughout his Donaldson career and am confident he is the
right leader for our Company as we celebrate our 100th anniversary
and, more importantly, as we look forward to our next chapter of growth,
innovation, and value creation."
"I am especially grateful for the trust Bill and our Board of Directors
is placing in me to assume this position. I am honored to have this
opportunity to lead our incredibly talented global team," said Carpenter.
About Donaldson Company
In 2015, Donaldson celebrates a century of providing global filtration
solutions that improve people's lives, enhance Customers' equipment
performance and protect the environment. The 100-year-old,
technology-driven Company is committed to satisfying Customers' needs
for filtration solutions through innovative research and development,
application expertise and global presence. Over 12,700 dedicated
employees contribute to the Company's success by supporting Customers at
more than 140 sales, manufacturing and distribution locations around the
world. In fiscal year 2014, Donaldson reported sales of $2.5 billion and
record earnings per share.
Donaldson is a member of the S&P MidCap 400 and Russell 1000 indices,
whose shares trade on the NYSE under the symbol DCI. Additional
information is available at www.Donaldson.com.
Donaldson Company, Inc.
Becky Cahn, 952-703-4590
Jan 30, 2015