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Applied Industrial Technologies Inc (AIT)

AIT on New York Consolidated

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26 Sep 2017
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Summary

Name Age Since Current Position

Peter Wallace

62 2014 Independent Chairman of the Board

Neil Schrimsher

53 2013 President, Chief Executive Officer, Director

David Wells

54 2017 Vice President-Chief Financial Officer, Treasurer

Kurt Loring

48 2014 Chief Human Resource Officer, Vice President

Christopher Macey

42 2015 Principal Accounting Officer, Corporate Controller

Todd Barlett

62 2004 Vice President - Acquisitions and Global Business Development

Fred Bauer

51 2002 Vice President, General Counsel, Secretary

Warren Hoffner

57 2015 Vice President, General Manager - Fluid Power

Robert Pagano

54 2017 Director

Joe Raver

51 2017 Director

Peter Dorsman

61 2002 Independent Director

L. Thomas Hiltz

70 1981 Independent Director

Edith Kelly-Green

63 2002 Independent Director

Dan Komnenovich

64 2012 Independent Director

Vincent Petrella

56 2012 Independent Director

Jerry Thornton

70 1994 Independent Director

Biographies

Name Description

Peter Wallace

Mr. Peter C. Wallace is Independent Chairman of the Board of Applied Industrial Technologies, Inc. Mr. Wallace most recently was Chief Executive Officer of Gardner Denver, Inc. from June 2014 until retiring in December 2015. Gardner Denver is a privately owned 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. Prior to joining Gardner Denver, Mr. Wallace was President and Chief Executive Officer, and a director, of Robbins & Myers, Inc. (formerly NYSE: RBN), from 2004 until it was acquired in February 2013 by National Oilwell Varco, Inc. Robbins & Myers was a leading designer, manufacturer, and marketer of highly engineered, application-critical equipment and systems for energy, chemical, pharmaceutical, and industrial markets worldwide. Mr. Wallace has a wide and varied background as a senior executive in global industrial equipment manufacturing. He brings to the Board the perspective of someone familiar with all facets of worldwide business operations, including the experience of leading a NYSE-listed company. Mr. Wallace’s career includes positions with global responsibilities for equipment manufacturers with product lines that Applied (and others) represented as a distributor in the fluid power and power transmission component fields. In those roles, he developed significant knowledge about Applied’s industry, including the dynamics of the relationships between industrial product manufacturers and their distributors. These experiences and knowledge, along with his service on other NYSE-listed company boards, enhance Mr. Wallace’s contributions and value to our Board.

Neil Schrimsher

Mr. Neil A. Schrimsher is a President, Chief Executive Officer and Director of Applied Industrial Technologies, Inc. He joined Applied as our Chief Executive Officer in October 2011 and was also elected President in August 2013. From 2010 to 2011, Mr. Schrimsher was Executive Vice President of Cooper Industries plc (formerly NYSE: CBE), a global electrical products manufacturer, where he led Cooper’s Electrical Products Group and headed numerous domestic and international growth initiatives. He was President of Cooper Lighting, Inc. throughout the period from 2006 to 2010. Mr. Schrimsher is the only Applied executive to serve on the Board. Since joining Applied, he has acquired a deep understanding of the company’s businesses, markets, and competitive landscape. From his prior employment, Mr. Schrimsher has brought to Applied and its Board broad leadership experience, including management of worldwide operations, distribution management, strategic planning and analysis, manufacturing, engineering, supply chain management, and sourcing.

David Wells

Mr. David K. Wells serves as Vice President-Chief Financial Officer, Treasurer of the Company. He joins Applied from Colfax Corporation – ESAB/Fabrication Technologies, a $2.0 billion global manufacturer of welding and material cutting products, where he served as Vice President & CFO since 2015. His professional career also includes five years as Vice President & CFO at Apex Tool Group, and extensive industrial experience at both Danaher Corporation and Cooper Industries in various leadership positions. Mr. Wells holds a Bachelor of Arts degree in business administration from Grove City College and an MBA from Ashland University.

Kurt Loring

Mr. Kurt W. Loring is Chief Human Resource Officer, Vice President of the Applied Industrial Technologies, Inc. Prior to then Mr. Loring was Vice President, Human Resources for the Forged Products segment of Precision Castparts Corporation (formerly NYSE: PCP). The $4.3 billion segment, with greater than 5,000 employees, is a world-leading producer of complex forgings and high-performance nickel-based alloys and super alloys for aerospace, power generation, and general industrial applications

Christopher Macey

Mr. Christopher Macey is Principal Accounting Officer, Corporate Controller of Applied Industrial Technologies, Inc. Previously, Mr. Macey served as Vice President, Corporate Controller and Chief Accounting Officer (from April 2012 to April 2015) and Vice President of Corporate Accounting and External Reporting (from October 2009 to April 2012) of Diebold, Incorporated, a provider of financial self-service delivery, integrated services and software, and security systems primarily to financial commercial, retail and other markets. Prior to joining Diebold, Mr. Macey was a senior manager for PricewaterhouseCoopers LLP. Mr. Macey earned a Bachelor of Science degree in Business Administration - Accounting from The Ohio State University. He is a CPA and a member of the American Institute of CPAs.

Todd Barlett

Mr. Todd A. Barlett is a Vice President - Acquisitions and Global Business Development of Applied Industrial Technologies, Inc. He has been Vice President-Acquisitions and Global Business Development since 2004.

Fred Bauer

Mr. Fred D. Bauer is a Vice President, General Counsel, Secretary of the Applied Industrial Technologies, Inc. He has been Vice President-General Counsel & Secretary since 2002.

Warren Hoffner

Robert Pagano

Mr. Robert J. Pagano, Jr., is Director of the Company. He has served as Chief Executive Officer and President, and as a director, of Watts Water Technologies, Inc. (NYSE: WTS) since May 2014. Watts Water Technologies, Inc. is a global supplier of products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the residential and commercial markets. He also served as interim Chief Financial Officer from October 2014 to April 2015. Mr. Pagano previously was Senior Vice President of ITT Corporation and President, ITT Industrial Process from 2009 to May 2014. ITT Corporation is a diversified manufacturer of highly engineered critical components and customized technology solutions for the energy, transportation, and industrial markets. Mr. Pagano began his career with an international public accounting firm and he is a Certified Public Accountant.

Joe Raver

Mr. Joe A. Raver is Director of the Company. He has served as President and Chief Executive Officer, and as a director, of Hillenbrand, Inc. (NYSE: HI) since September 2013. Before then, he served as President of Hillenbrand’s Process Equipment Group beginning in 2011 and, prior to that, his career included service in various other leadership and operational roles with Hillenbrand, including as President of Batesville Casket Company. Hillenbrand is a diversified industrial company with multiple brands that serve a range of industries across the globe. The company’s Process Equipment Group provides compounding, extrusion and material handling; size reduction; screening and separating, and flow control products and services for a range of manufacturing and other industrial processes.

Peter Dorsman

Mr. Peter A. Dorsman is Independent Director of Applied Industrial Technologies, Inc. Mr. Dorsman is retired from NCR Corporation (NYSE: NCR) in April 2014. NCR is a global technology company providing assisted and self-service solutions and comprehensive support services that address the needs of retail, financial, hospitality, technology, and telecommunication organizations throughout the world. As Executive Vice President, Services since July 2012, Mr. Dorsman led NCR Services, a leading global provider of outsourced and managed service offerings. He was also responsible for customer experience, continuous improvement, and quality throughout NCR, serving as Chief Quality Officer during this period. He served as NCR’s Executive Vice President, Industry Solutions Group and Global Operations from November 2011 to July 2012, and, before then, Senior Vice President, Global Operations. Mr. Dorsman has broad experience in marketing, sales, strategy, and operations. At NCR, a $6 billion dollar company, he led 11,000 service professionals serving customers in over 90 countries. He also led NCR’s efforts to provide consistent, world-class service delivery, products, and solutions. With his diverse background and expertise, he contributes insights about many aspects of our business operations and initiatives.

L. Thomas Hiltz

Mr. L. Thomas Hiltz is Independent Director of Applied Industrial Technologies, Inc. He is an attorney in Covington, Kentucky and is one of five trustees of the H.C.S. Foundation, a charitable trust which has sole voting and dispositive power with respect to 500,000 shares (as of June 30, 2016) of Applied stock. Mr. Hiltz’s background as a practicing lawyer and fiduciary includes diverse experience with business transactions, including mergers and acquisitions, and board governance. In addition to service as a director of Great American Financial Resources, Inc., a public company prior to its acquisition by American Financial Group, Inc., he has served as a director of numerous private companies, some with significant minority shareholder bases, and led those boards in overseeing large corporate transactions. Mr. Hiltz also is the Board’s longest-serving member, contributing to its deliberations an institutional memory stretching back several generations of executive teams.

Edith Kelly-Green

Ms. Edith Kelly-Green is Independent Director of Applied Industrial Technologies, Inc. She was Vice President and Chief Sourcing Officer of FedEx Express, the world’s largest express transportation company and a subsidiary of FedEx Corporation (NYSE: FDX). Ms. Kelly-Green has significant procurement and logistics experience from her service with FedEx Express, where she was successful in designing and enhancing the company’s extensive internal supply chain processes. Because Applied is a distributor, the processes of buying, inventorying, and transporting products are critical to our business. In addition, her career began in the field of accounting as a Certified Public Accountant with an international public accounting firm and she served as Vice President-Internal Audit with FedEx Corporation. Ms. Kelly-Green’s skills and background in these areas make her well-suited for our company and Board.

Dan Komnenovich

Mr. Dan P. Komnenovich, CPA, is Independent Director of Applied Industrial Technologies, Inc. Until his retirement in August 2013, Mr. Komnenovich was President and Chief Executive Officer of Aviall, Inc., a wholly owned subsidiary of The Boeing Company (NYSE: BA). Aviall is one of the world’s largest providers of new aviation parts and related aftermarket operations. It also provides maintenance for aviation batteries, wheels, and brakes, as well as hose assembly, kitting, and paint-mixing services, and offers a complete set of supply chain and logistics services, including order processing, stocking and fulfillment, automated inventory management, and reverse logistics to OEMs and customers. Mr. Komnenovich led a global multi-billion dollar distribution company which grew significantly during his service as a senior executive. He brings to our Board extensive experience with distribution sales, marketing, operations, supply chain management, and logistics. Earlier in his career, Mr. Komnenovich was a Certified Public Accountant and served in finance and accounting roles with various companies.

Vincent Petrella

Mr. Vincent K. Petrella is Independent Director of Applied Industrial Technologies, Inc. Mr. Petrella is Executive Vice President, Chief Financial Officer and Treasurer of Lincoln Electric Holdings, Inc. (NASDAQ: LECO). Lincoln Electric engages in the design, manufacture, and sale of welding, cutting, and brazing products worldwide. As one of Lincoln Electric’s top executives, Mr. Petrella has helped lead the company’s global expansion over the last decade. His leadership and operating experience, and his knowledge of industrial distribution in North America and abroad, make him a key contributor to discussions about Applied’s strategy. In addition, Mr. Petrella’s finance and accounting background (before joining Lincoln Electric he was a Certified Public Accountant with an international public accounting firm) and his service as Chief Financial Officer for a multi-billion dollar public company make him a valued member of the Board and chairman of the Audit Committee.

Jerry Thornton

Dr. Jerry Sue Thornton, Ph.D., is an Independent Director of Applied Industrial Technologies, Inc. Dr. Thornton is retired in June 2013 after serving as President of Cuyahoga Community College, the largest multi-campus community college in Ohio, for more than 20 years. Upon her retirement, Cuyahoga Community College honored her with the title of President Emeritus. Dr. Thornton is a preeminent educator with significant experience in career training. Our workforce is our most important resource, and her background and skills help the Board monitor Applied’s efforts to maximize our associates’ potential. Having served as Cuyahoga Community College’s longtime President, overseeing a budget of over $330 million, she also contributes broad general management skills to Applied’s Board. In addition, Dr. Thornton has extensive service as a director of other NYSE-listed companies, including participation on numerous key board committees.

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