Head of Eaton's Automotive Group to retire; successor named
CLEVELAND, OHIO…Eaton Corporation (NYSE:ETN) today announced that Robert J. McCloskey, Senior Vice President and Group Executive for the company's Automotive Group, will retire on December 31, 1999 and also announced the appointment of Bruce E. Taylor to that position, effective September 1, 1999. From September first to year end, McCloskey will work with Taylor to ensure a seamless transition in the Automotive Group and also will handle special projects for the corporation. Both McCloskey and Taylor will report to Alexander M. Cutler, Eaton President and Chief Operating Officer and will be based at Eaton's world headquarters here.
"Bob McCloskey's 30 years of success at Eaton touched almost every part of our business," said Cutler. "For example, he led the turnaround of our automotive controls business, more than doubled the size of our hydraulics business in six years and was instrumental in our decision to exit the appliance business in order to achieve a more strategic focus in our growth initiative. Bob has been a distinguished leader and we will miss his trusted counsel. Many here join me in expressing personal regret that he has elected to retire."
Bruce Taylor has been Vice President of Eaton's worldwide Automotive Controls Operations since 1995 and has 13 years of management experience in Eaton's Automotive Group. "Bruce is well qualified to be Bob's successor," said Cutler. "He has proven himself in tough assignments and is a strategic thinker with an excellent understanding of our customers and our markets. I'm confident that Bruce has the skills to ensure the Automotive Group's continued growth and profitability."
Taylor served as General Manager, Automotive Controls-Europe and held other management positions in the automotive controls business before leading Automotive Controls Operations worldwide. Prior to that, he held marketing positions in the engine components business. Taylor joined Eaton in 1985 as Manager, Strategy and Development. He holds a B.A. in marketing and finance from American University and a M.B.A. from Harvard.
McCloskey was elected Senior Vice President and Group Executive for the Automotive Group in 1995. Prior to that he served in management positions for Eaton's controls, hydraulics, transmission, axle and brake, electric drives, general products and Airflex businesses. He joined Eaton in 1965 as a patent attorney and served 12 years in the law department, including a term as General Patent Counsel, before moving into operations. He holds a B.S. in electrical engineering from University of Notre Dame and a J.D. from American 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.