James L. Wainscott Elected a Director of Parker Hannifin
Parker Hannifin Corporation, the global leader in motion and control technologies, announced the election of James L. Wainscott to its Board of Directors for a term expiring in October 2009.
Mr. Wainscott is Chairman, President and Chief Executive Officer of AK Steel Holding Corporation, a leading producer of flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets.
AK Steel, headquartered in West Chester, Ohio, employs about 6,200 people and is the only U.S. flat rolled steel producer with a significant presence in the three major steel markets of carbon, stainless, and electrical steels.
Mr. Wainscott has served in the steel industry for more than 25 years. He joined AK Steel as Vice President and Treasurer in 1995, and was named Chief Financial Officer in 1998. In 2003, Mr. Wainscott was named President, CEO and a member of the Board of Directors of AK Steel and, in 2006, he was named Chairman of the Board of Directors.
Wainscott is also Chairman of the Board of Directors for the American Iron and Steel Institute, a member of the Business Roundtable, Washington, D.C., and the Ohio Business Roundtable, and serves on the boards of numerous civic and charitable organizations. He is a magna cum laude graduate of Ball State University and earned his MBA from the University of Notre Dame.
"I am pleased to welcome Jim Wainscott to our Board and look forward to his valuable insight to the steel industry which provides so much of the basic material used in Parker s products and systems," said Don Washkewicz, Chairman, President and Chief Executive Officer of Parker. "His experience as an industry leader will make him an important addition to the Parker Board, and will serve Parker shareholders well as an independent director."
About Parker Hannifin
With annual sales exceeding $12 billion in fiscal year 2008, 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 62,000 people in 48 countries around the world. Parker has increased its annual dividends paid to shareholders for 53 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index.
Source: Parker Hannifin Corp