CLEVELAND, OHIO…Eaton Corporation (NYSE:ETN) today announced that effective October 1, 1999, Stephen M. Buente is appointed Vice President, Automotive Controls Operations-Worldwide and Laurence M. Iwan is appointed Vice President, Engine Components Operations-Worldwide. Both will report to Bruce E. Taylor, who was named Senior Vice President and Group Executive for Eaton's Automotive Group. Buente, formerly Vice President, Engine Components-Worldwide, succeeds Taylor in Automotive Controls. Iwan, formerly Vice President of Eaton's Asia/Pacific operations, succeeds Buente in Engine Components. A successor to Iwan has not yet been named.
"Steve Buente has achieved exceptional global performance in Engine Components and will use those skills to Eaton's competitive advantage in the Automotive Controls business," said Alexander M. Cutler, Eaton President and Chief Operating Officer. "Larry Iwan's operations and global business development experience will be key to meeting our objectives for Engine Components. We have a great management team in place in the Automotive Group for executing our growth strategy."
Buente was appointed Vice President, Engine Components Operations-Worldwide in 1995. His Eaton career spans 23 years, primarily in the Engine Components business. He joined Eaton in 1976 and has held management positions in product engineering, marketing and product planning, as well as serving as General Manager for Engine Components-Europe. Buente holds a B.S. in mechanical engineering from Valparaiso University and a M.B.A. from Western Michigan University.
Iwan has been responsible for developing and growing Eaton's businesses in Asia/Pacific since 1995. Prior to that, he held management positions in the Engineered Fasteners and Hydraulics Divisions. He joined Eaton in 1966 and managed various aspects of information systems for Eaton during his first 17 years with the company. Iwan holds a B. S. and a M.B.A. from Cleveland State University.
Eaton is a global manufacturer of highly engineered products that serve industrial, vehicle, construction, commercial, aerospace and semiconductor markets. Principal products include hydraulic products and fluid connectors, electrical power distribution and control equipment, truck drivetrain systems, engine components, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 64,500 employees and 215 manufacturing sites in 25 countries around the world. Eaton's sales for 1998 were $6.6 billion. On April 9, 1999, Eaton acquired Aeroquip-Vickers, Inc., which had sales of $2.1 billion in 1998.