Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced that Kenneth F. Davis has been named president – Vehicle Group, effective January 1, 2011, succeeding Joseph P. Palchak who has announced his decision to retire at the end of June, 2011. Palchak will continue to report to Craig Arnold, vice chairman and chief operating officer – Industrial Sector, and will be assisting with the transition in addition to some specific projects until his retirement.
In his new role, Davis will report to Craig Arnold and will be responsible for the company’s automotive and truck businesses. Davis’ current role as president – Americas for Eaton’s Vehicle Group will not be filled.
“Ken’s deep knowledge of the vehicle segment combined with his global business experience and strong leadership skills will be instrumental as we continue to grow in critical markets around the world,” said Craig Arnold, vice chairman and chief operating officer – Industrial Sector. “We are pleased he will be assuming this leadership role.”
Since joining Eaton in 1986, Davis has held management positions of increasing responsibility including president – Americas for Eaton’s Vehicle Group, president of the company’s Light- and Medium-Duty Transmission business and vice president and general manager for Eaton’s Clutch business.
Davis earned a bachelor’s degree in management from Purdue University in Indiana and a master’s degree in business administration from the University of Michigan. He will continue to be located in Galesburg, Michigan.
Joe Palchak will continue to report to Craig Arnold and assist with the transition process until June, 2011.
Arnold continued, “During the past three years, Eaton’s automotive and truck businesses have come together under Joe’s leadership. He has created a streamlined regional organization that adapts quickly to the evolving business environment and responds efficiently to customer needs. I want to thank him for continuously embodying Eaton’s values and for his steadfast leadership of our Vehicle Group during the recent volatility of the past several years.”
Palchak joined Eaton in 1973 as a trainee with the Forge Division. Since then he’s served in a variety of leadership positions including president – Vehicle Group, president – Automotive Group, president - Engine Air Management Business and president – Powertrain and Specialty Controls Operations.
He holds a bachelor’s degree in business from Susquehanna University in Pennsylvania and a master’s degree in business administration from the University of Louisville in Kentucky.
Eaton Corporation is a diversified power management company with 2009 sales of $11.9 billion. Eaton is a global technology leader in electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 70,000 employees and sells products to customers in more than 150 countries.
