Cooper Industries today announced Senior Vice President and Chief
Financial Officer, Terry A. Klebe, will retire in 2010 after 15 years of
service with Cooper Industries. Mr. Klebe began his career at Cooper in
1995 as Vice President and Controller and was appointed Senior Vice
President, Strategic Sourcing in 1999. In 2002, he was promoted to Chief
Financial Officer and has served in this role for the past 8 years.
"Terry has made a tremendous impact at Cooper during his 15 years of
service,” said Cooper Industries Chairman and Chief Executive Officer
Kirk S. Hachigian. "He has worked tirelessly and with the utmost passion
and ethical standards throughout his career and has been a trusted
advisor and business partner as we transformed Cooper over the last
decade into the company it is today. Over the last year, he has
successfully led our financial organization through the most turbulent
time our company has seen since the great depression and was largely
responsible for protecting and strengthening our balance sheet through
the economic downturn. We envision a smooth and planned exit for Terry
that will occur later in 2010.”
Additionally, Cooper Industries today announced the appointment of Neil
A. Schrimsher to the position of Executive Vice President, Cooper
Connection, reporting to Chairman and Chief Executive Officer Kirk S.
Hachigian. In this role, Schrimsher will oversee four of Cooper’s
electrical products divisions -- Cooper B-Line, Cooper Bussmann, Cooper
Wiring Devices and Cooper Lighting. These four units, which represent
approximately 40% of the company’s total revenue, are bound by a common
distribution channel and primarily serve commercial, industrial and
residential markets. Schrimsher will maintain his position as President
of Cooper Lighting.
"Neil is a proven and effective leader with a history of building and
mobilizing strong teams that get outstanding results,” said Cooper
Industries Chairman and Chief Executive Officer Kirk S. Hachigian. "His
management expertise and electrical industry experience gives us great
confidence that he will successfully lead the effort to capitalize on
many of the synergies that are inherent in our Cooper Connection
businesses.”
Prior to joining Cooper in 2006, Schrimsher spent 5 years with Siemens
and 17 years with General Electric in a variety of leadership and
management roles. He holds an MBA from John Carroll University and a BA
in Marketing from the University of Tennessee.
Finally, Cooper announced the appointment of Mark Eubanks as Vice
President and General Manager, Cooper Lighting, reporting to Neil
Schrimsher. Eubanks joined Cooper in 2006 and has worked in a variety of
increasingly responsible roles for the past four years, most recently as
Vice President and General Manager, Architectural & Lighting Control
Products. Mark holds a Masters Degree in Finance Management from Emory
University and an Electrical Engineering Degree from the University of
Florida.
About Cooper Industries
Cooper Industries plc (NYSE: CBE) is a global manufacturer with 2009
revenues of $5.1 billion, approximately eighty-nine percent of which are
from electrical products. Founded in 1833, Cooper's sustained level of
success is attributable to a constant focus on innovation, evolving
business practices while maintaining the highest ethical standards, and
meeting customer needs. The Company has eight operating divisions with
leading market share positions and world-class products and brands
including: Bussmann electrical and electronic fuses; Crouse-Hinds and
CEAG explosion-proof electrical equipment; Halo and Metalux lighting
fixtures; and Kyle and McGraw-Edison power systems products. With this
broad range of products, Cooper is uniquely positioned for several
long-term growth trends including the global infrastructure build-out,
the need to improve the reliability and productivity of the electric
grid, the demand for higher energy-efficient products and the need for
improved electrical safety. In 2009, sixty-one percent of total sales
were to customers in the industrial and utility end-markets and
thirty-nine percent of total sales were to customers outside the United
States. Cooper has manufacturing facilities in 23 countries as of 2009.
For more information, visit the website at www.cooperindustries.com
