DUBLIN, Ireland — The Board of Directors of power management company Eaton announced on Wednesday a number of senior leadership appointments in anticipation of Chairman and Chief Executive Officer Alexander M. “Sandy” Cutler’s retirement at the end of May 2016. The appointments are the result of the Board’s multi-year succession management process to continue the evolution of Eaton’s strategy and performance capabilities and to sustain the company’s values-based culture.
Craig Arnold, 55, has been appointed president and chief operating officer of Eaton and a member of the board of directors, effective Sept. 1, 2015. Arnold will be appointed chairman and chief executive officer of Eaton on June 1, 2016. Cutler, who has been Eaton’s chairman and chief executive officer since August 2000, will retire on May 31, 2016, having reached Eaton’s mandatory CEO retirement age of 65.
“Our entire board wishes to congratulate Craig on his promotion and to thank Sandy for his ongoing outstanding leadership and strategic vision,” said Ned C. Lautenbach, the lead director of Eaton’s board of directors. “We have had the opportunity to work closely with Craig and admire his keen intellect and impressive record of accomplishments.”
Arnold has been vice chairman, president and chief operating officer of the Industrial Sector since 2009, with additional leadership responsibility for the Asia Pacific and Latin America regions. He joined Eaton in 2000 as senior vice president and group executive of the Fluid Power Group. Prior to that, Arnold held multiple senior leadership positions with General Electric in the United States, Europe and Asia.
The Board also announced that Richard H. Fearon has been appointed a member of Eaton’s board of directors, effective Sept. 1, 2015. He will continue to serve as chief financial and planning officer, a position he has held since 2002, and as vice chairman of Eaton.
Eaton also announced that, in keeping with his long-time personal plans, Thomas S. Gross, vice chairman, president and chief operating officer of the Electrical Sector, will retire from the company Aug. 31, 2015.
“Tom has done an extraordinary job leading our Electrical Sector and integrating Cooper Industries, the largest acquisition in our history,” Cutler said. “From his earliest assignment as our first vice president of the Eaton Business System to his most recent assignment leading the Electrical Sector and the EMEA region, Tom has been a force in propelling Eaton’s growth. We wish him a long and healthy retirement.”
Revathi Advaithi, currently president, Electrical Americas region, has been appointed chief operating officer, Electrical Sector, succeeding Gross, effective Sept. 1, 2015. She will also have corporate responsibility for the EMEA region.
Uday Yadav, currently president, Aerospace Group, has been appointed chief operating officer, Industrial Sector, succeeding Arnold, effective Sept. 1. He will also have corporate responsibility for the Asia Pacific and Latin America regions.
Cutler said, “I am enormously proud of our Eaton team and these announcements reflect the outstanding breadth and depth of capability that we have in our leadership team.”