Eaton Names David Foster Senior Vice President, Corporate Development and Treasury

CLEVELAND--August 1, 2011: Diversified industrial manufacturer Eaton Corporation today named David B. Foster senior vice president, Corporate Development and Treasury, effective Aug. 1, 2011. In this role, Foster will be responsible for corporate development activities, including mergers and acquisitions and strategic planning, and treasury activities, including capital market and foreign exchange transactions, insurance, and cash management. He will report to Richard H. Fearon, Eaton vice chairman and chief financial and planning officer.

“His extensive finance and planning background, developed while working in several of our businesses and in leading our Asia Pacific finance organization, will serve him well as we continue to pursue growth opportunities around the world.”

"We are pleased that David will be leading our worldwide corporate acquisition strategy and treasury initiatives," Fearon said. "His extensive finance and planning background, developed while working in several of our businesses and in leading our Asia Pacific finance organization, will serve him well as we continue to pursue growth opportunities around the world."

Foster succeeds Kurt McMaken, who has been named vice president, finance and planning, Electrical Sector for the Europe, Middle East and Africa Region, reporting to Frank Campbell, president, Electrical Sector, Europe, effective Aug. 1.

Foster joined Eaton in 1993 as a general ledger accountant. He held the positions of finance director and controller in the Automotive Group and was named vice president, Finance, Asia Pacific Region in 2008. Prior to joining Eaton, he worked for Hydro Aluminum Bohn and Franklin Financial Company.

He holds a bachelor's degree in accounting from the University of Michigan and a master's degree in management from Kettering University in Michigan. Foster will be based at Eaton's world headquarters in Cleveland, Ohio.

Eaton Corporation is a diversified power management company with 2010 sales of $13.7 billion. Celebrating its 100^th anniversary in 2011, 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 73,000 employees and sells products to customers in more than 150 countries.