Donald Washkewicz, who has served as Parker Hannifin CEO since 2001, chairman of the board since 2004 and president since 2006, will continue as chairman to ensure a smooth transition.
Williams and Banks have also been elected as members of Parker’s board.
“Over the past decade, both Tom and Lee have been exposed to the entire global organization, including broad executive leadership preparation and strategy development,” said Washkewicz. “They each bring significant experience with all of Parker’s operating groups and have led the growth and development of Parker’s position in emerging markets.”
A Parker Hannifin operating officer since 2006, Williams has had leadership responsibility for the Aerospace, Filtration, Engineered Materials, Instrumentation, Climate and Industrial Controls, Hydraulics, Fluid Connectors and Automation product groups and the Asia Pacific and Latin America regional groups. Williams also currently oversees the company’s strategic pricing initiatives.
“I am honoured and excited to accept this new role as Chief Executive Officer of Parker and will focus on continuing to build on its strong foundation, momentum, customer focus and innovative mindset,” said Williams. “Our goal will be to continue driving significant operational improvements, profitable growth and product and service innovations for our customers.”
Banks has also been an operating officer of the company since 2006 and has had leadership responsibility for the Filtration, Engineered Materials, Instrumentation, Climate and Industrial Controls, Hydraulics, Fluid Connectors and Automation product groups and the Europe, Middle East and Africa, and Latin America regional groups.
