Eaton announced that Ken D. Semelsberger has been named vice president, corporate development and treasury. He will be responsible for Eaton's overall acquisition, divestiture and joint venture activities and also will oversee ...
...worldwide treasury functions, including capital market activities, cash management, pension plan investment, real estate and risk management.
Semelsberger will report to Richard H. Fearon, executive vice president - chief financial and planning officer. Fearon said that as Eaton has increased its pace of acquisitions, the new position reflects the importance of linking the corporate development and treasury activities.
Semelsberger had been vice president, strategic planning, since April 1999. He joined Eaton in 1988 as a senior financial analyst and subsequently held positions of increasing responsibility in business development and planning. Before joining Eaton, Semelsberger was a consultant for Coopers and Lybrand. He holds a Bachelor of Science degree in international business and marketing from Bowling Green State University in Ohio, and a master's degree in business administration from Harvard Business School.
Eaton Corporation is a diversified industrial manufacturer with 2005 sales of $11.1 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 60,000 employees and sells products to customers in more than 125 countries.