8-KLeadership Changes

Parker-Hannifin Corp 8-K Report, Executive Changes (Aug 23, 2010)

Filed August 23, 2010For Securities:PH

Summary

This 8-K filing from Parker-Hannifin Corporation announces the election of two new directors, Robert G. Bohn and Åke Svensson, to its Board of Directors, effective August 19, 2010. These appointments are set to fill vacancies until the Annual Meeting of Shareholders in October 2010. The company has indicated that committee assignments for these new directors will be finalized in October. Both Mr. Bohn and Mr. Svensson are independent directors and are not involved in any transactions with the company that would require disclosure under Regulation S-K. They will be compensated according to the existing non-employee director compensation plan. This board expansion suggests a focus on strengthening governance and potentially bringing in new expertise as the company navigates its business environment.

Key Highlights

  • 1Parker-Hannifin elected two new directors, Robert G. Bohn and Åke Svensson, to its Board of Directors.
  • 2The appointments were effective as of August 19, 2010.
  • 3The terms of the new directors will expire at the Annual Meeting of Shareholders in October 2010.
  • 4Committee assignments for the new directors are expected to be determined in October 2010.
  • 5Neither new director is involved in any reportable transactions with the company (Item 404(a) of Regulation S-K).
  • 6The new directors will participate in the company's standard non-employee director compensation plan.

Frequently Asked Questions

Robert G. Bohn and Åke Svensson were elected as new directors to the Parker-Hannifin Corporation Board of Directors.

They were elected on August 19, 2010, and their terms are set to expire at the Annual Meeting of Shareholders in October 2010.

Yes, the filing states that neither Mr. Bohn nor Mr. Svensson is a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K, indicating their independence.

They are eligible to participate in the non-employee director compensation arrangements previously disclosed in the Company's 2009 Annual Meeting of Shareholders Proxy Statement.