Eaton Board of Directors Elect Robert A. Elliott Assistant Treasurer
30 October 2000
Eaton Board of Directors Elect Robert A. Elliott Assistant Treasurer
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CLEVELAND--Oct. 30, 2000--Eaton Corporation's board of directors has elected Robert A. Elliott assistant treasurer of the company, effective immediately.
Elliott will report to Robert E. Parmenter, vice president and treasurer, and will be responsible for the design, development and implementation of the company's overall financial strategy and permanent capital structure.
Elliott joined Eaton in 1993 as manager-cash management and pension investments. In 1995, he was promoted to director-international finance in Eaton's Treasury Department. In 1998, he was named to his most recent position as director-global corporate finance, where he was responsible for Eaton's long-term financing activities, and served as a key treasury liaison on a number of the company's strategic initiatives.
"Bob has demonstrated exceptional talent through his support of key company-wide initiatives, exemplified by his lead role in the development and deployment of Eaton's financial strategy for last year's acquisition of Aeroquip-Vickers," said Parmenter. "His strong leadership skills and accurate and timely counsel will be extremely important to Eaton as the company continues its growth initiative."
Elliott began his professional career with IBM in 1979 as a manufacturing engineer before moving into corporate finance at British Petroleum/Standard Oil in 1982. From 1987 through 1993, he held various operating and finance managerial positions, specifically in retail credit and refinery investment planning. Just prior to joining Eaton in 1993, Elliott held the position of commercial trading manager, Benelux Refining and Supply (BRS) for British Petroleum.
Elliott holds a masters degree in business administration from the University of Chicago and a bachelor of science in chemical engineering from Case Western Reserve University.
With 1999 sales of $8.4 billion, Eaton is a diversified industrial manufacturer that serves industrial, vehicle, construction, commercial, aerospace, and semiconductor markets. Principal products include hydraulic products and fluid connectors, electrical power distribution and control equipment, truck drivetrain systems, engine components, ion implanters and a wide variety of controls. The company has 64,000 employees and 200 manufacturing sites in 24 countries. The Internet address for Eaton is http://www.eaton.com.
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