The Board of Directors of power management company, Eaton announced a number of senior leadership appointments in anticipation of Chairman and Chief Executive Officer Alexander M. “Sandy” Cutler’s retirement at the end of May 2016. The appointments are the result of the Board’s multi-year succession management process to continue the evolution of Eaton’s strategy and performance capabilities and to sustain the company’s values-based culture.
The Eaton Board has named Craig Arnold as President and Chief Operating Officer and a member of the Board of Directors, effective September 01, 2015. Craig Arnold will be appointed Chairman and Chief Executive Officer of Eaton on June 1, 2016. Sandy Cutler, who has been Eaton’s chairman and chief executive officer since August 2000, will retire on May 31, 2016, having reached Eaton’s mandatory CEO retirement age of 65.
“Our entire board wishes to congratulate Craig on his promotion and to thank Sandy for his ongoing outstanding leadership and strategic vision,” said Ned C. Lautenbach, the lead director of Eaton’s Board of Directors. “We have had the opportunity to work closely with Craig and admire his keen intellect and impressive record of accomplishments.”
Cutler added, “We are fortunate to have an extraordinary leader in Craig Arnold, who has a rich history of experience and achievement at Eaton. He is uniquely qualified to lead our company to continued success as a global power management company.”
Arnold has been Vice Chairman, President and Chief Operating Officer of the Industrial Sector since 2009, with additional leadership responsibility for the Asia Pacific and Latin America regions. He joined Eaton in 2000 as Senior Vice President and group executive of the Fluid Power Group. Prior to that, Arnold held multiple senior leadership positions with General Electric in the United States, Europe and Asia.
Arnold has a master’s degree in business administration from Pepperdine University and a Bachelor’s Degree from California State University. He serves as a Board Member of Medtronic and several community organizations, including University Hospitals of Cleveland and the Salvation Army of Greater Cleveland. His prior board service includes the boards of Unocal Corporation and Covidien.
Cutler said, “I am enormously proud of our Eaton team and these announcements reflect the outstanding breadth and depth of capability that we have in our leadership team.”
Eaton is a power management company with 2014 sales of $22.6 billion. Eaton provides energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has approximately 102,000 employees and sells products to customers in more than 175 countries. For more information please visit their website at www.eaton.com.