Cooper Industries Announces Key Executive Appointments and Responsibilities; Ralph E. Jackson, Jr. Named Chief Operating Officer COOPER INDUSTRIES LOGO Cooper Industries' logo. (PRNewsFoto)[DM] HOUSTON, TX USA 05/13/1999
3 January 2001
Cooper Industries Announces Key Executive Appointments and Responsibilities; Ralph E. Jackson, Jr. Named Chief Operating Officer COOPER INDUSTRIES LOGO Cooper Industries' logo. (PRNewsFoto)[DM] HOUSTON, TX USA 05/13/1999HOUSTON, Jan. 3 Cooper Industries, Inc. today announced the following changes in its executive management structure: Ralph E. Jackson, Jr. has been promoted to the newly-created position of chief operating officer. In addition, Cooper has designated Terry A. Klebe, senior vice president, Strategic Sourcing, as the Company's chief information technology officer and David A. White, Jr., senior vice president, Strategic Planning, as the Company's new venture development officer. In his new position, Jackson will be responsible for all of Cooper's worldwide business operations: Cooper B-Line, Cooper Bussmann, Cooper Crouse- Hinds, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Wiring Devices and Cooper Tools. Previously, Jackson was executive vice president, Operations, with responsibility for Cooper's Electrical Products segment. He moved into this position in 1992 after several years as president of the Cooper Bussmann division. "Ralph Jackson is an experienced, knowledgeable executive with outstanding strategic and marketing skills," said H. John Riley, Jr., Cooper's chairman, president and chief executive officer. "Under his leadership, Cooper's Electrical Products segment has produced a solid record of profitable growth. Ralph also has played a vital role in enhancing Cooper's reputation for operational and customer service excellence, while helping to execute our strategy of transforming the Company into a global manufacturer of electrical products and tools and hardware. I am confident that under Ralph's guidance, Cooper's operating units will continue to improve upon their already strong market-leading performance." In his expanded role as Chief Information Technology Officer, Klebe will be responsible for coordinating company-wide information systems and developing common standards and platforms to support the Company's future technical requirements. Klebe also will be responsible for the development and implementation of Cooper's global electronic commerce initiatives. In addition to his new responsibilities, Klebe will continue to head the Company's Strategic Sourcing initiative, which is significantly lowering costs through the centralized procurement of commodities and other purchased materials. Klebe was named senior vice president, Strategic Sourcing in 1999 after four years as vice president and controller. Before joining Cooper in 1995, Klebe was a partner at Ernst & Young in Houston. White will continue his responsibilities for developing and coordinating Cooper's strategic planning and acquisition activities. As Cooper's New Venture Development Officer, White also will have worldwide responsibility for identifying new opportunities for Cooper through strategic investments and the acquisition of innovative, higher-growth product technologies to expand the breadth and scope of Cooper's business platforms. White was named senior vice president, Strategic Planning in 1996 after seven years as Cooper's vice president, Planning & Development. Prior to that, White was vice president and general manager of Cooper Power Tools. "Terry Klebe and David White are both well qualified to lead these initiatives within Cooper," Riley said. "Over time, their efforts will create additional opportunities to generate faster core growth, increase profitability and expand Cooper's operations into higher-growth markets." Ralph Jackson, Terry Klebe and David White will continue to report directly to H. John Riley, Jr., Cooper's chairman, president and chief executive officer. "These key executive appointments and increased responsibilities reflect their importance to Cooper as we execute our strategy to enhance growth and profitability in an increasingly competitive technology-driven marketplace," continued Riley. "Each individual offers a unique set of skills and experience which will ensure Cooper's ability to continue to deliver value for our shareholders." Cooper Industries, with 1999 revenues of $3.9 billion, is a worldwide manufacturer of electrical products, tools and hardware. Additional information about Cooper is available on the Company's Internet site: http://www.cooperindustries.com. Statements in this news release are forward-looking under the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties, many of which are outside the control of the Company, such as the level of market demand for the Company's products, competitive pressures and future economic conditions. These factors are discussed in the Company's 1999 Annual Report on Form 10-K and other Securities and Exchange Commission filings. Contact: John Breed of Cooper Industries, Inc., 713-209-8835.