Dover Corporation News
Dover Corporation Names Raymond Hoglund President of Its Engineered Systems Segment
NEW YORK, July 2 PRNewswire-FirstCall — Dover Corporation (NYSE: DOV) announced today that Raymond Hoglund, 57, has been promoted to the position of President and Chief Executive Officer of its Engineered Systems segment, effective immediately. Ray will have primary responsibility for the strategic direction and operating performance of the $2.1 billion Engineered Systems segment, comprised of the Product Identification and Engineered Products platforms. Mr. Hoglund will report to Bob Livingston, Dover's recently appointed President and Chief Operating Officer and the former leader of the Engineered Systems segment.
Mr. Hoglund joined Dover in July 2002 as Executive Vice President at Hill PHOENIX Inc., a leading manufacturer of refrigeration systems, display merchandisers, walk-in coolers and electrical distribution products for the retail food industry. Since October 2004, he has served as President of Hill PHOENIX. Prior to joining Dover, Mr. Hoglund held a number of senior management positions and was most recently President and Chief Executive Officer of ESAB, a global manufacturer of welding products.
Ray graduated with a Bachelor of Science degree in Business Administration from Colorado State University and completed the General Management Program at the Harvard Business School. He is a member of the Board of Directors of the AHRI (Air Conditioning, Heating and Refrigeration Institute), an Advisory Member of the Food Marketing Institutes Board of Directors, and was a recipient of the Sam Walton Business Leader of the Year award in 1994.
"We are pleased that Ray has accepted the challenge of leading the future success of our Engineered Systems segment. Ray's proven leadership skills, high energy level and global business experience will serve our Engineered Systems segment well. I am confident Ray will lead our Engineered Systems segment to new levels of achievement through focused synergy efforts and strategic growth initiatives," said Bob Livingston, President & Chief Operating Officer of Dover.
"Ray's promotion is evidence that our strategic focus on management development is paying dividends. The ability to promote someone of Ray's caliber gives me great comfort that the future direction of Dover is firmly on track and we are developing the right leaders to drive shareholder value to the next level," commented Ron Hoffman, Chief Executive Officer of Dover.
Dover Corporation, with over $7 billion in annualized revenues, is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets. For more information, please visit www.dovercorporation.com.
CONTACT: Paul Goldberg Treasurer & Director of Investor Relations 212.922.1640
SOURCE Dover Corporation
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