Eaton splitting businesses in two
KALAMAZOO, Mich. — Eaton announced that its businesses are being reorganized into two sectors — electrical and industrial — with a vice chairman and chief operating officer for each division, effective Feb. 1.
Craig Arnold has been named vice chairman and CEO of the industrial sector, which is being formed by combining Eaton’s aerospace, automotive, hydraulics and truck businesses.
Richard H. Fearon has been named vice chairman and chief financial and planning officer for Eaton.
"As the company grows, we need to develop our organizational structure to help accelerate growth, identify synergies, drive common practices and build broad, global capability," said Alexander M. Cutler, Eaton chairman and CEO.
Beginning in 2009, Eaton will report financial results externally for six segments. They are: Electrical Americas, Electrical Rest of the World, Hydraulics, Aerospace, Truck and Automotive.
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