Management Changes at Graco - Analyst Blog
December 31 2012 - 4:30AM
Zacks
In an effort to better focus on
international growth and seize new Process business opportunities,
Graco Inc. (GGG) recently expanded its management
team.
Graco announced management changes in its process division, which
will be effective from January 1, 2013. The current Business
Development Director for the Industrial Products Division (IPD),
Mark Eberlein, will become the new Vice President and General
Manager for the Process Division. Additionally, Bernard Moreau, the
current Director of sales and marketing for Graco’s IPD and Applied
Fluid Technologies Division (AFTD) in Europe, will hold the
position of the company’s first Vice President and General Manager
for South and Central America.
The company also announced that Simon Paulis, Vice President and
General Manager for the Europe, Middle East and Africa (EMEA)
region, will retire at the end of fiscal year 2012 and will be
succeeded by Jeffrey Johnson, the current Vice President and
General Manager for the Asia-Pacific region. Additionally, Peter
O’Shea, the current director of Sales and Marketing will for
Graco’s IPD business in Asia Pacific will succeed Johnson and will
hold the office of Vice President and General Manager, Asia
Pacific. Also, David M. Lowe will be promoted to the Executive Vice
President position of the Industrial Products Division.
The strategic move by Graco is aimed at delivering long-term growth
and enhancing international sales in the emerging economies of
South and Central America. The company expects that new
management’s vast know-how and expertise should prove beneficial in
the long term. It should enable the company to reach new heights
with respect to ongoing services and portfolio expansions.
Headquartered in Minneapolis, Minnesota, Graco supplies technology
for management of fluids in both industrial and commercial
applications. The company designs, manufactures, and markets
systems that move, measure, control, dispense, and apply fluid
materials. Its products are used for the application of paints and
coatings, for the high-pressure cleaning of equipment, and for the
lubrication and maintenance of vehicles and other equipments.
Graco currently has a Zacks #4 Rank, which translates into a
short-term Sell rating. We have a long-term Underperform
recommendation on the stock. One of its competitors, IDEX
Corporation (IEX) carries a Zacks #3 Rank, which
translates into a short-term Hold rating.
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