PH - Parker Announces Retirement of Vice Chairman and President Lee C. Banks and Election of Chief Operating Officer Andrew D. Ross as President | Benzinga
CLEVELAND, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today announced that Lee C. Banks, Vice Chairman and President and a Director, will retire on December 31, 2023, after 32 years of dedicated service to the company. Andrew D. Ross, currently Chief Operating Officer, has been elected by the Board of Directors as President and Chief Operating Officer, effective January 1, 2024.
"During his career, Lee successfully led several of our largest businesses, globally expanded our distribution network that now stands among our greatest competitive strengths, and significantly raised the bar for operational excellence at Parker," said Jenny Parmentier, Chief Executive Officer. "Together with Tom Williams he co-created a refreshed Win Strategy and subsequent updates that have successfully transformed the company's performance and portfolio, actions that will leave a legacy on our company and its future. His presence will be missed, and we are grateful for his transformational leadership and his countless significant contributions to Parker's success. I look forward to partnering with Andy in his expanded role as President and collaborating on our continuing plans to realize Parker's full ...