2013-08-26 14:02:04 -
DOVER ANNOUNCES SEGMENT LEADERSHIP CHANGES
Bill Spurgeon Named President and Chief Executive Officer of the
Engineered Systems Segment
Soma Somasundaram Promoted to President and Chief Executive Officer of Energy
Downers Grove, Illinois, August 26, 2013 - Dover (NYSE: DOV) today announced
leadership changes at two of its operating segments.
W. "Bill" Spurgeon, Jr., President & Chief Executive Officer of
Energy segment, has been appointed to the role of President and Chief Executive
Officer of the Engineered Systems segment, and S. "Soma" Somasundaram has been
promoted to the role of President and Chief Executive Officer of the Energy
segment. Mr. Spurgeon succeeds Thomas W. Giacomini, who has left the Company for
a CEO role at a public global industrial company.
"I am pleased to announce the appointments of Bill and Soma to lead our
Engineered Systems and Energy segments, respectively," said Robert A.
Livingston, Dover's President and Chief Executive Officer. "This leadership
transition exemplifies the strength of talent within Dover that allows us to
maintain a strong position across all of the industries we serve. Bill and Soma
combine for nearly three decades of service at Dover, and we fully expect a
seamless transition. I look forward to working collaboratively with each of
them as we continue to execute on our segment strategies and drive innovation to
create value for our customers, employees and all of our stakeholders."
Mr. Livingston concluded, "I want to thank Tom for helping position the
Engineered Systems segment for continued success. We wish him all the best in
his future endeavors."
William (Bill) W. Spurgeon, Jr.
Bill Spurgeon has been with Dover since 1993 and has served in progressively
senior positions. Prior to his new role at Engineered Systems, Mr. Spurgeon
served as President and Chief Executive Officer of the Energy segment since
2011. Prior to joining Dover, he held a variety of roles including engineering
and marketing at well-known industrial companies including GE. Bill is a member
of the Executives' Club of Chicago and The CEO Forum. Mr. Spurgeon graduated
from the United States Military Academy-West Point and served 5 years in the US
Army as a helicopter pilot. He earned his MBA from the University of Tennessee.
S. (Soma) Somasundaram
Soma Somasundaram has been with Dover since 2004, most recently serving as the
Executive Vice President of Dover's Energy segment since December 2011. Prior to
that, he held a variety of senior leadership positions within Dover. Mr.
Somasundaram began his career at Baker Hughes and progressed through a number of
positions of increasing responsibility in businesses that served the energy,
chemical, mining, sanitary and other process industries. He earned a M.S. in
Industrial Engineering from University of Oklahoma and a B.S. in Mechanical
Engineering from Anna University in Chennai, India. Mr. Somasundaram brings a
strong global business background and skills having lived and worked in North
America, Europe and Asia Pacific regions. He is a member of the Board of
Directors of the World Affairs Council in Houston, TX, USA.
Dover is a diversified global manufacturer with annual revenues of over $8
billion. For over 50 years, Dover has been delivering outstanding products and
services that reflect its market leadership and commitment to operational and
technical excellence. The Company's entrepreneurial business model encourages,
promotes and fosters deep customer engagement which has led to Dover's well-
established and valued reputation for providing superior customer service and
industry-leading product innovation. Dover focuses on innovative equipment and
components, specialty systems and support services through its four major
operating segments: Communication Technologies, Energy, Engineered Systems and
Printing & Identification. Headquartered in Downers Grove, Illinois, Dover
employs 35,000 people worldwide. Dover is traded on the New York Stock Exchange
under "DOV." Additional information is available on our website at
Vice President - Investor Relations
Director of Communications
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Source: Dover Corporation via Thomson Reuters ONE