October 1, 2008
Eaton Elects Moran Senior Vice President And Secretary; Franklin Retires After 36 Years With Eaton
CLEVELAND … Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced that Thomas Moran has been elected senior vice president and secretary. Moran succeeds Earl R. Franklin, who retired as senior vice president and secretary on September 30, after almost 36 years with Eaton.
Moran joins Eaton from The Dow Chemical Company, where he has served since 2002 as senior managing counsel and assistant corporate secretary. He joined Dow, which has $50 billion in annual sales and 50,000 employees, in 1989, serving in a variety of regional and corporate counselor roles.
“Tom’s background and unique qualifications make him a valuable addition to the Eaton team,” said Mark M. McGuire, executive vice president and general counsel. “We are pleased to bring on board an attorney and corporate secretary with Tom’s depth and breadth of experience.”
Having received a bachelor’s degree in psychology and English from Colgate University, Moran earned a juris doctorate from the University of Illinois College of Law. In addition to being a member of various bar associations and professional societies, Moran is also trustee, secretary and legal counsel to the Community Foundation of Mid-Michigan and a director of Michigan Attorneys for Animals.
Moran will assume Franklin’s responsibilities, which include overseeing Eaton’s governance initiatives and maintaining the company’s liaison with the exchanges on which Eaton’s shares are listed. In addition, Moran will manage the Corporate and Securities function of the Law Department, along with the Office of the Secretary.
“Earl Franklin is to be congratulated on an exemplary career as a highly valued member of the Eaton team for so many years. His personal role in building Eaton’s reputation as a solid corporate citizen will contribute significantly to the company’s success long after Earl leaves us to enjoy his well-deserved retirement,” said McGuire.
Eaton Corporation is a diversified power management company with 2007 sales of $13 billion. Eaton is a global technology leader in electrical systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has 81,000 employees and sells products to customers in more than 150 countries.