CLEVELAND (Dec. 13) — Parker Hannifin Corp.´s president and chief operating officer Nickolas W. Vande Steeg will retire from his positions and as a member of the company´s board of directors at the end of 2006, the firm announced.
Donald E. Washkewicz, Parker chairman and CEO, will assume the title of president.
To ensure a smooth transition, the operational responsibility for Parker´s business groups previously held by Vande Steeg are now under the responsibility of two executives — Lee C. Banks and Thomas L. Williams — who were promoted to the position of senior vice president, operating officer, in November. Each has separate and defined oversight for Parker´s business groups and regions, the company said.
Vande Steeg began his career at Parker as a total quality assurance manager within the company´s seal business in 1971. He advanced at the company through 10 positions, including general manager, Global Seal Group president, and finally president and COO.
"Under Nick´s stewardship, the company has grown substantially around the world," Washkewicz said. "He has reinforced a culture of execution and results at Parker that will serve the company well for many years to come. We wish him the very best in retirement."
In a statement, Vande Steeg thanked the "thousands of Parker employees whose hard work over the years has moved the company into a top quartile position relative to our peers. You have helped to make Parker into a great company, and have done so with a level of integrity and purpose that allows Parker people to be recognized with respect the world over."