Parker Hannifin Elects Two European Executives to Its Board of Directors
24 February 1999
Parker Hannifin Elects Two European Executives to Its Board of Directors
CLEVELAND--Feb. 24, 1999--Parker Hannifin Corporation announced today that Giulio Mazzalupi, President and Chief Executive Officer of Atlas Copco Group of Sweden, and Klaus-Peter Mueller, Managing Director of Germany's Commerzbank AG, have been elected to Parker's Board of Directors.Board Chairman Patrick S. Parker said, "We welcome the addition of these two respected European business leaders to our Board. Both bring impressive credentials and valuable experience in serving industry around the world that will be a great benefit to Parker Hannifin as it moves ahead into the 21st century."
The addition of these two new directors brings to 13 the number of current Parker Hannifin Board members, including 10 from outside the Company.
Mazzalupi, 59, has been in his present position since April, 1997, and is the first non-Swede in this post. Previously he served as President of Atlas Copco Airpower Belgium for 10 years and as Senior Executive Vice President of Atlas Copco AB since 1991. A graduate of Rome University, he started his career in 1967 as Chief Operating Officer-Underground Mining at Cogne S.p.A. In 1971 he joined the mining and construction technique department of Atlas Copco Italy, and in 1973 became head of the division.
Mueller, 54, oversees Commerzbank's activities in North and Latin America, Central and Eastern Europe and its financial institutions worldwide. He joined Commerzbank in 1966 and has served as Executive Vice President in New York, and was responsible for the East German branch network. In 1990 he was named a member of Board of Managing Directors.
Parker Hannifin is a worldwide leader in the production of motion, control, instrumentation and fluid flow components and systems for thousands of industrial and aerospace markets. For more information about Parker, visit the Company Web site at www.parker.com.