Posted October 17, 2011
Applied Industrial names new CEO
Applied Industrial Technologies announced that Neil A. Schrimsher will become the company's new chief executive officer effective Oct. 25.
Schrimsher will succeed David L. Pugh, who previously announced he would retire and step down from the board. Schrimsher, age 47, was most recently executive vice president of Cooper Industries, a $5.1 billion (2010 revenues) global electrical products manufacturer, where he lead multiple businesses in Cooper's Electrical Products Group and headed numerous domestic and international growth initiatives. Prior to joining Cooper in 2006 as president of Cooper Lighting, he worked in Atlanta for Siemens Energy & Automation, part of Siemens AG, the global electronics and electrical engineering company
Schrimsher holds an MBA from John Carroll University and a BS in Business Administration (Marketing) from the University of Tennessee.
"Neil Schrimsher is an outstanding, seasoned leader with extensive experience and an exceptional track record of driving profitable growth at GE, Siemens and Cooper Industries," said Applied's presiding non-management director, Peter C. Wallace. "Throughout his career, he has been highly active with end users and selling through distribution, so he has an excellent understanding of industrial distribution business from a manufacturer's viewpoint and a customer's perspective. In leading global businesses at Cooper and Siemens, he built and executed strategies, drove operational improvements and generated growth -- both organically and through acquisitions. The Board is absolutely delighted to have Neil joining Applied Industrial Technologies as its new Chief Executive Officer. We believe he is a strong fit and the right person to lead the company to new heights of success."
