Attached files
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8-K - 8-K - GARDNER DENVER INC | c63255e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE |
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February 24, 2011
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Contact: | Michael M. Larsen | ||
Vice President and CFO | ||||
(610) 249-2002 |
GARDNER DENVER, INC. ANNOUNCES THE RETIREMENT OF FRANK J. HANSEN FROM THE
BOARD OF DIRECTORS EFFECTIVE NOVEMBER 2011;
BOARD OF DIRECTORS EFFECTIVE NOVEMBER 2011;
DIANE K. SCHUMACHER TO SUCCEED AS CHAIRPERSON
WAYNE, PA February 24, 2011 Gardner Denver, Inc. (NYSE: GDI) announced today that Frank J.
Hansen, Chairman of the Board of Directors, has decided to retire following the November 2011 Board
Meeting after having reached the customary Board retirement age. The Board has unanimously
appointed Diane K. Schumacher, member of the Gardner Denver, Inc. Board of Directors since 2000, to
succeed Mr. Hansen as Chairperson upon his retirement.
Mr. Hansen was appointed Chairman, in a non-executive capacity, in May 2008 and has been a director
of Gardner Denver, Inc. since June 1997. In addition, Mr. Hansen served as Lead Nonemployee
Director from November 2002 until his appointment as Chairman of the Board in May 2008.
Frank Hansens guidance and dedicated service to Gardner Denver over the past fourteen years has
been invaluable. On behalf of the Board of Directors, shareholders and employees of the Company, I
thank him for his many contributions, said Barry L. Pennypacker, Gardner Denvers President and
Chief Executive Officer. His tremendous knowledge of our industry and extensive business
experience has been a key asset to Gardner Denvers growth and success and will be greatly missed.
Diane K. Schumacher has been a director of Gardner Denver since August 2000 and is currently
Chairperson of the Nominating and Corporate Governance Committee. Mrs. Schumacher served as Senior
Vice President, General Counsel and Secretary of Cooper Industries, Ltd., a company engaging in the
manufacture and sale of electrical products and tools, from 1995 to 2003, and was Senior Vice
President, General Counsel and Chief Compliance Officer until August 2006. She served as Special
Counsel to the CEO of Cooper from September 2006 until her retirement from Cooper in September
2008.
Over the past decade, Dianes experience, business acumen and forward thinking have been
instrumental to the Board of Directors, said Mr. Pennypacker. As Chairperson, she will be a
valuable leader, especially as we continue the Companys evolution through the Gardner Denver Way.
Gardner Denver, Inc., with 2010 revenues of approximately $1.9 billion, is a leading worldwide
manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers
for various industrial, medical, environmental, transportation and process applications, pumps used
in the petroleum and industrial market segments and other fluid transfer equipment, such as loading
arms and dry break couplers, serving chemical, petroleum and food industries. Gardner Denvers
news releases are available by visiting the Investors section on the Companys website
(www.GardnerDenver.com).
Cautionary Statement Regarding Forward-Looking Statements
All of the statements in this release, other than historical facts, are forward-looking statements made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995. As a
general matter, forward-looking statements are those focused upon anticipated events or trends,
expectations, and beliefs relating to matters that are not historical in nature. Such
forward-looking statements are subject to uncertainties and factors relating to the Companys
operations and business environment, all of which are difficult to predict and many of which are
beyond the control of the Company. The actual future performance of the Company could differ
materially from such statements. Risks that could cause results to differ materially from those
matters expressed in or implied by such forward-looking statements are set forth under Risk
Factors in the Companys Form 10-K for the fiscal year ended December 31, 2009, and its subsequent
quarterly reports on Form 10-Q. The Company does not undertake, and hereby disclaims, any duty to
update these forward-looking statements, although its situation and circumstances may change in the
future.
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