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NEW YORK, June 8 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE: DOV)
today announced that Brad M. Cerepak, 50, has been hired to replace the
retiring Robert G. Kuhbach, 62, as Dover's Chief Financial Officer. As part
of the transition plan, Mr. Cerepak, who starts at Dover today as Vice
President, Finance, will become Chief Financial Officer on August 1, 2009.
Mr. Kuhbach will continue as Chief Financial Officer until July 31, and is
expected to remain with Dover as a Vice President and senior advisor until his
retirement later in the year. Mr. Cerepak will report to Bob Livingston,
Dover's Chief Executive Officer, and will be a key member of the executive
management team.
Mr. Cerepak was most recently Vice President & Controller of Trane, Inc.
(formerly American Standard Companies), where he had primary responsibility
for the global accounting function, including global compliance. Prior to
that, he served as CFO of American Standard's Bath and Kitchen division.
Additionally, Mr. Cerepak was actively involved in several strategic
initiatives including the American Standard separation plan, which resulted in
the sale of Trane. Before joining American Standard, Mr. Cerepak spent nearly
ten years with Allied Signal/Honeywell in a variety of senior financial
positions, including CFO of their Automation & Control Solutions business as
well as CFO of their Automotive Consumer Products Group. Mr. Cerepak holds a
BS in Accounting from Fairleigh Dickinson University and an MBA from the
University of Chicago.
Mr. Livingston said, "I am pleased that Brad has decided to join Dover and
lend his considerable talents to help grow our company and drive shareholder
value. He brings a broad base of financial experience and has earned a solid
reputation for being a strategic thinker and a strong leader. Brad's
financial acumen coupled with his proven track record in driving performance
will serve our company well. The entire management team is looking forward to
working with Brad."
Mr. Kuhbach, who joined Dover in 1993 as its first Vice President, General
Counsel and Secretary, and was promoted to Vice President, Finance and Chief
Financial Officer in November 2002, is retiring after a distinguished career.
As Chief Financial Officer, he successfully broadened the scope of the
corporate tax, treasury, internal audit and risk management functions, and was
instrumental in guiding Dover through the implementation of Sarbanes-Oxley and
leading the finance function through a period of strong growth. During his
tenure as General Counsel, he was instrumental in implementing positive
changes in Dover's legal compliance and benefits administration areas.
"I would like to thank Rob Kuhbach for his many years of exceptional
service to Dover. Having held two of Dover's most challenging executive staff
roles for over 16 years, Rob decided it was time to let someone new take the
lead. His decision to retire is simply part of our orderly management
transition process," continued Mr. Livingston. "Rob's leadership has allowed
Dover to build upon its already strong reputation for financial integrity and
transparency. Rob's dedication and tireless work ethic will be missed, and we
all wish him a happy and healthy retirement."
Dover Corporation is a global portfolio of manufacturing companies
providing innovative components and equipment, specialty systems and support
services for a variety of applications in the industrial products, engineered
systems, fluid management and electronic technologies markets. For more
information, please visit www.dovercorporation.com.
SOURCE: Dover Corporation
CONTACT: Paul Goldberg, Treasurer & Director of Investor Relations of
Dover Corporation, +1-212-922-1640
Web Site: http://www.dovercorporation.com
