## Parker Hannifin Charts New Leadership Era with Parmentier at the Helm

In a significant organizational restructuring announced on October 26, 2022, Parker Hannifin Corporation has formally elevated Jennifer A. Parmentier to the position of Chief Executive Officer, with Andrew D. Ross stepping up as Chief Operating Officer. Both appointments take effect on January 1, 2023, marking a watershed moment for the motion and control technologies powerhouse.

The succession plan represents the culmination of years of strategic planning by the company's Board of Directors. Outgoing Chief Executive Thomas L. Williams, who has steered the company since 2015, will maintain involvement as Executive Chairman through 2023 to facilitate a seamless transition before his planned retirement. This measured handoff underscores the company's commitment to operational continuity during leadership changes.

### The New Executive Vision

Parmentier brings formidable operational credentials to her expanded role. Her trajectory through Parker's organizational structure spans multiple operating groups and geographies. As Chief Operating Officer since 2021, she demonstrated her capability to oversee all operating divisions. Her prior tenure as Vice President and President of the Motion Systems Group (2019-2021) and the Engineered Materials Group (2015-2019) provided comprehensive exposure to the company's diverse business units. Her career foundation, built since 2008 through roles including General Manager of the Sporlan Division and leadership of the Hose Products Division, showcases progressive responsibility across critical functions.

Her educational pedigree—a Bachelor of Arts in Management from Webster University and an Executive MBA from Loyola Chicago Quinlan School of Business—complements her hands-on industry experience. Notably, she currently serves on the Board of Directors of Nordson Corporation, demonstrating her standing within the industrial leadership community.

Ross brings 24 years of embedded expertise within Parker's operational ecosystem. Since assuming the Vice President and President role overseeing the Fluid Connectors Group in 2015, he has navigated complex business environments with measured success. His earlier responsibilities spanning sales, marketing, and operations across the Engineered Materials and Motion Systems Groups position him as deeply familiar with Parker's organizational DNA.

### Fortifying the Office of the Chief Executive

The restructured leadership arrangement creates what the company terms the "Office of the Chief Executive"—a four-person command center. Parmentier will be joined by Lee Banks (Vice Chairman and President), Andrew D. Ross (Chief Operating Officer), and Todd Leombruno (Executive Vice President and Chief Financial Officer). This configuration aims to distribute strategic responsibilities while maintaining unified direction toward Parker's five-year performance objectives through fiscal year 2027.

Williams emphasized the collective capability of this ensemble: "Together with Lee Banks and Todd Leombruno, they will form the new Office of the Chief Executive and are the right team to lead Parker to achieve its FY27 performance targets." The deliberate multi-leader approach reflects confidence in distributed leadership rather than a single-point-of-failure model.

### Strategic Continuity and The Win Strategy

The transition prioritizes maintaining momentum around Parker's operational philosophy known as The Win Strategy. This framework has reportedly driven the company toward record performance benchmarks and remains the foundation for future growth initiatives. Both incoming executives have publicly committed to perpetuating this methodology.

Parmentier stated: "My goal will be to continue to build upon the tremendous work and momentum that Tom, Lee and our global team have set in motion. This will include an ongoing focus on the key principles of The Win Strategy, which will be the foundation for us to achieve our five-year goals."

Ross echoed this commitment, noting that "the operational improvements that Tom and Lee have established have led to historic levels of company performance. Yet we still see opportunities and our plan will be to continue striving for operational excellence across all of our businesses."

### Board Expansion and Governance Evolution

To accommodate the leadership restructuring, Parker's Board of Directors approved expanding from twelve to thirteen members, with Jennifer A. Parmentier joining as a newly appointed Board member effective January 1, 2023. This governance adjustment integrates the incoming CEO into Board deliberations, aligning leadership authority with fiduciary responsibility.

Lead Director James L. Wainscott articulated the Board's confidence: "Parker's Board of Directors takes a structured approach to senior leadership development and succession. Our process allows us to evaluate the performance, qualifications and cultural fit of key executives and benchmark them against other highly talented leaders. We are confident that both Jenny and Andy are the right leaders to continue the trend of very strong performance and transformational growth at Parker."

### Reflecting on Williams' Legacy

Williams' tenure as Chief Executive established measurable achievements in performance optimization and portfolio reconfiguration. Through disciplined capital deployment and strategic acquisitions, Parker strengthened its business composition while improving profitability margins and growth trajectories within longer-cycle market segments. His leadership also prioritized workforce engagement, positioning Parker among top-quartile employers for team member satisfaction globally.

The incoming leadership team inherits a company with demonstrated operational excellence, expanded portfolio depth, and a globally engaged workforce—positioning Parker Hannifin for the next phase of its strategic evolution under Parmentier's direction.