Rockwell Automation Reviews Business Activities and Elects New Board Members at Annual Shareowners Meeting
MILWAUKEE--Feb. 5, 2003--Rockwell Automation Chairman and CEO Don H. Davis reviewed the company's fiscal year 2002 business activities and highlighted first quarter results at the company's annual shareowners meeting. The company also reaffirmed its earnings guidance for fiscal 2003, which was outlined in its first quarter earnings release.At the meeting, shareowners elected Verne G. Istock and David B. Speer to the board of directors, and re-elected two directors to new terms.
Istock and Speer were elected to fill the vacancies in the board of directors created by the retirement of John D. Nichols and increase in the size of the board from nine to 10.
| -- | Istock is Retired Chairman and President of Bank One Corp. He is a director of Kelly Services, Inc. and Masco Corp. |
| -- | Speer is Executive Vice President at Illinois Tool Works and is on the board of CoVest Bancshares. |
Istock, Speer and the two re-elected directors will serve terms that expire at the annual meeting in 2006. The re-elected directors are:
-- Betty C. Alewine, Retired President and Chief Executive
Officer of COMSTAT Corp., has been a director since 2000. She
is a member of the Compensation & Management Development and
Technology, Environmental & Social Responsibility Committees
of the board of directors.
-- J. Michael Cook, Retired Chairman and Chief Executive Officer
of Deloitte & Touche LLP, has been a director since 2000. He
is chairman of the Audit Committee and a member of the Board
Composition & Governance Committee.
Nichols served 14 years on the Rockwell Automation board of directors and the board of directors expressed appreciation for his dedicated service. Shareowners also approved a new Directors Stock Plan.
A copy of the presentation from the meeting is available for review at: www.rockwellautomation.com.
Rockwell Automation is a leading global provider of industrial automation power, control and information solutions that help customers meet their manufacturing productivity objectives. The company brings together leading brands in industrial automation for Complete Automation solutions, including Allen-Bradley(R) controls and services, Dodge(R) mechanical power transmission products, Reliance Electric(TM) motors and drives, and Rockwell Software(R) factory management software. The company also is a leading provider of contact management technologies and applications that help companies more efficiently manage interaction with their own customers. Headquartered in Milwaukee, Wisconsin, the company employs about 22,000 people serving customers in more than 80 countries.
This news release contains statements (including certain projections and business trends) accompanied by such phrases as "believes," "estimates," "expect(s)," "anticipates," "will," "intends" and other similar expressions, that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to economic and political changes in international markets where the company competes, such as currency exchange rates, inflation rates, recession, foreign ownership restrictions and other external factors over which the company has no control; demand for and market acceptance of new and existing products, including levels of capital spending in industrial markets; successful development of advanced technologies; competitive product and pricing pressures; future terrorist attacks; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.