AMETEK Stockholders Elect Two New Directors.PAOLI, Pa. -- AMETEK, Inc. (NYSE NYSE See: New York Stock Exchange :AME) today announced that the Company's stockholders have elected Dennis K. Williams and Steven W. Kohlhagen to the AMETEK Board of Directors. "Dennis and Steve bring a wealth of valuable corporate and finance experience to our Board of Directors," comments Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. "Dennis has broad management experience in leading global manufacturing companies, while Steve has an extensive background in banking, finance and economics. Both make excellent additions to our Board." Mr. Williams, 60, served as Chairman of the Board, President and Chief Executive Officer of IDEX Corporation (IDEX) from 2000 to March, 2005. From March, 2005 until his retirement on April 4, 2006, he served as Chairman of the Board of IDEX. During his tenure with IDEX, Mr. Williams significantly increased the sales and income of the Company, combining a culture of innovation with a disciplined focus on acquisitions and operational excellence. Prior to joining IDEX, Mr. Williams spent 27 years with General Electric in a variety of senior management positions within its Aircraft Engines and Power Systems businesses, including President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of GE Power Systems Industrial Products, GE Nuovo Pignone and GE Canada. He also has served as Vice President and General Manager, Military and Small Commercial Engine Operations within GE Aircraft Engines. Mr. Williams holds a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in Aeronautical Engineering from Georgia Institute of Technology Georgia Institute of Technology, in Atlanta, Ga.; coeducational; state supported; chartered 1885, opened 1888. It is a member school in the university system of Georgia. Significant among its facilities and programs are the Frank H. and has completed the Program for Management Development at Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . Mr. Kohlhagen, 58, has served in a variety of positions in business, academia and the public sector. He has been an independent business consultant since 2002. From 1992 to 2002, he was a Managing Director of First Union National Bank (now Wachovia National Bank) with responsibility for its Fixed Income Division. He also has held financial management positions with AIG Financial Products, Stamford Capital Group, Bankers Trust Corporation and Lehman Brothers, Inc. Mr. Kohlhagen has been a consultant to the U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. and served as a Senior Staff Economist for the Council of Economic Advisors in the Carter administration. From 1973 to 1983, Mr. Kohlhagen was on the faculty of the Schools of Business Administration at the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). , Berkley and at Stanford University. Mr. Kohlhagen holds a Bachelor of Arts degree in Economics from the College of William and Mary Noun 1. William and Mary - joint monarchs of England; William III and Mary II and a Master of Science and Ph.D. in Economics from Stanford University. Corporate Profile AMETEK is a leading global manufacturer of electronic instruments and electric motors with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. sales of $1.6 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion, and New Products. Its objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P MidCap 400 Index and the Russell 1000 Index The Russell 1000 Index is a stock market index of US stocks. The ticker is "RUI" or similar. See Russell Indexes page for main discussion. See also the iShares Russell 1000. External links
Forward-looking Information Statements in this news release that are not historical are considered "forward-looking statements" and are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. Those factors are contained in AMETEK's Securities and Exchange Commission filings. |
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