CLEVELAND, Aug. 1, 2011 /PRNewswire/ -- Lincoln Electric
Holdings, Inc. (Nasdaq: LECO) today announced that Christopher L. Mapes has been elected Chief
Operating Officer of the Company, effective September 1st.
Mr. Mapes is currently a member of the Company's Board of
Directors and will retain his seat on the Board. He will also
become a member of the Company's executive management team.
As COO, Mr. Mapes will have responsibility for all of Lincoln
Electric's businesses, including the North American segment, the
International segments and the Harris Products Group segment, with
Presidents for those units reporting to him. He will also
take on responsibility for the Company's global product development
initiatives.
In making the announcement, John M.
Stropki, Chairman and Chief Executive Officer, said: "As we
continue our rapid international growth, we must simultaneously
grow our global talent pool. I can't think of a better
individual than Chris Mapes to add
to our already stellar and experienced leadership team. Chris
brings years of successful operations, sales and marketing
experience, and his global business background and insights have
already added value to our well-rounded and solid Board of
Directors. As a Lincoln Electric executive, Chris will
greatly enhance our efforts to profitably grow our worldwide
businesses."
Mr. Mapes has 25 years of experience and more than 15 years of
profit and loss leadership experience for worldwide industrial
manufacturing and distribution companies, most recently as
Executive Vice President of the A.O. Smith Corporation and
President of its Electrical Products unit. A.O. Smith is a
$2 billion global leader in the
manufacture of water heaters, water treatment and electric motors
(AOS/NYSE). He has been President of the Electrical Products
business since 2004, a global manufacturer of fractional
horsepower, hermetic and integral horsepower electric motors for
residential, commercial and industrial applications.
Mr. Mapes holds a Bachelor of Science degree from Ball State University, a law degree from the
University of Toledo (Ohio) and an MBA from Northwestern University's Kellogg Graduate School
of Management. In addition to the Lincoln Electric Board, Mr.
Mapes serves as a board member of the Greater Dayton YMCA.
Lincoln Electric is the world leader in the design, development
and manufacture of arc welding products, robotic arc-welding
systems, plasma and oxyfuel cutting equipment and holds a leading
global position in the brazing and soldering alloys market.
Headquartered in Cleveland, Ohio,
Lincoln has 43 manufacturing
locations, including operations and joint ventures in 19 countries
and a worldwide network of distributors and sales offices covering
more than 160 countries. For more information about Lincoln
Electric, its products and services, visit the Company's website at
http://www.lincolnelectric.com.
The Company's expectations and beliefs concerning the future
contained in this news release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements reflect management's current expectations
and involve a number of risks and uncertainties. Actual results may
differ materially from such statements due to a variety of factors
that could adversely affect the Company's operating results. The
factors include, but are not limited to: general economic and
market conditions; the effectiveness of operating initiatives;
currency exchange and interest rates; adverse outcome of pending or
potential litigation; possible acquisitions; market risks and price
fluctuations related to the purchase of commodities and energy;
global regulatory complexity; and the possible effects of events
beyond our control, such as political unrest, acts of terror and
natural disasters, on the Company or its customers, suppliers and
the economy in general. For additional discussion, see "Item 1A.
Risk Factors" in the Company's periodic reports.
SOURCE Lincoln Electric Holdings, Inc.