Eaton Names David Foster Senior Vice President, Corporate Development and Treasury
August 01 2011 - 8:30AM
Business Wire
Diversified industrial manufacturer Eaton Corporation (NYSE:
ETN) today named David B. Foster senior vice president, Corporate
Development and Treasury, effective Aug. 1, 2011. In this role,
Foster will be responsible for corporate development activities,
including mergers and acquisitions and strategic planning, and
treasury activities, including capital market and foreign exchange
transactions, insurance, and cash management. He will report to
Richard H. Fearon, Eaton vice chairman and chief financial and
planning officer.
“We are pleased that David will be leading our worldwide
corporate acquisition strategy and treasury initiatives,” Fearon
said. “His extensive finance and planning background, developed
while working in several of our businesses and in leading our Asia
Pacific finance organization, will serve him well as we continue to
pursue growth opportunities around the world.”
Foster succeeds Kurt McMaken, who has been named vice president,
finance and planning, Electrical Sector for the Europe, Middle East
and Africa Region, reporting to Frank Campbell, president,
Electrical Sector, Europe, effective Aug. 1.
Foster joined Eaton in 1993 as a general ledger accountant. He
held the positions of finance director and controller in the
Automotive Group and was named vice president, Finance, Asia
Pacific Region in 2008. Prior to joining Eaton, he worked for Hydro
Aluminum Bohn and Franklin Financial Company.
He holds a bachelor’s degree in accounting from the University
of Michigan and a master’s degree in management from Kettering
University in Michigan. Foster will be based at Eaton’s world
headquarters in Cleveland, Ohio.
Eaton Corporation is a diversified power management company with
2010 sales of $13.7 billion. Celebrating its 100th anniversary in
2011, Eaton is a global technology leader in electrical components
and 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 approximately 73,000 employees and sells products to
customers in more than 150 countries. For more information, visit
www.eaton.com.
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