Eaton vice president announces retirement

CLEVELAND, OH... Ronald L. Leach, Vice President Accounting for 15 years and a 26-year Eaton employee, announced today that he will retire March 31, 1997.

Leach, 62, began his career with Eaton in Cleveland in 1970 as Assistant to the Vice President and Controller. He was promoted to Assistant Controller in 1972, to Controller in 1977 and to Vice President in 1978. He was named to his current position in 1981. Prior to joining Eaton he was with the firm of Ernst & Young for 10 years, with Eaton being his largest client.

"Ron has set the standard for professionalism at Eaton," said Adrian T. Dillon, Vice President-Chief Financial and Planning Officer. "He has had responsibility for the integrity of Eaton's financial statements for 19 years and not once during that time have our external auditors had cause to question any aspects of Eaton's statements." Dillon also noted that Leach served on the Committee on Corporate Reporting of the Financial Executives Institute. "He has had a long and important influence on the evolution of accounting standards and practice across the nation."

Leach maintained active memberships in the Financial Executives Institute, the FEI Committee on Corporate Reporting, the American Institute of CPA's, the Ohio Society of CPA's, the American Accounting Association and the Institute of Management Accountants. He is a trustee of Southwest Community Health System (parent of Southwest General Hospital) and is also a member of the Greater Cleveland Growth Association.

Eaton Corporation is a global manufacturer of highly engineered products which serve vehicle, industrial, construction, commercial and aerospace markets. Principal products include truck transmissions and axles, engine components, hydraulic products, electrical power distribution and control equipment, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 54,000 employees and 155 manufacturing sites in 26 countries around the world. Sales for 1996 were $7 billion.



Contact Information

Renald Romain


William Hartman, vice president, Investor Relations