Gardner
Denver Inc. has announced that Helen Cornell intends to retire as executive
vice president, finance and chief financial officer to enable her to increase
her involvement in family business matters. The company has commenced an
executive search to identify an appropriate successor, and Cornell plans to
remain in her role to ensure an orderly transition, which the company expects
to occur before the end of the year.
Cornell
joined the Gardner Denver in 1988 when it was a division of Cooper Industries,
and led the corporate secretarial and treasury functions upon Gardner Denver's
spin-off in 1993. In 2000, she accepted an operational role, as vice president,
compressor operations for the compressor and pump division, but returned to a
corporate position in 2001, to lead the strategic development initiatives of
the company, including the acquisitions of Syltone, Nash Elmo, Thomas
Industries and CompAir, among others. She was promoted to chief financial
officer in 2004, and executive vice president, finance and chief financial
officer of Gardner Denver in 2007.
"Helen
has been instrumental in Gardner Denver's transformation to a global leader in
the markets we serve. Her leadership in executing the growth strategy of
Gardner Denver is obvious by the strong financial results that we have
achieved," says Barry Pennypacker, Gardner Denver's president and chief
executive officer. "Helen has built an excellent global finance function
that will continue to provide a path forward for the continued success of
Gardner Denver. On behalf of our customers, shareholders and employees, I want
to thank Helen for her support of the culture change initiated by The Gardner
Denver Way, and wish her continued success as she becomes more involved with
her family's business."
"Being
part of the team that transformed Gardner Denver from a U.S.-based
manufacturing company with less than $200 million in revenues to a
multinational organization, with over 6,000 employees on six continents and
revenues of nearly $2 billion has been an incredible experience," says
Helen Cornell. "I have had the great fortune to learn so much from the
many friends and acquaintances that I have made over the twenty-two years I
have worked at Gardner Denver. I look forward to the future successes the company
will achieve as it continues its transformation to a lean culture, driven by
the principles of the Gardner Denver way."
Gardner
Denver Inc., with 2009 revenues of approximately $1.8 billion, is a worldwide manufacturer of highly engineered products, including compressors,
liquid ring pumps and blowers for various applications.
