Parker Announces Retirement of Chief Information Officer William G. Eline, Appoints Dinu J. Parel as Successor

Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today announced that William G. Eline, Vice President - Chief Information Officer, will retire after 40 years of dedicated service. The company has appointed Dinu J. Parel to succeed Mr. Eline in November 2018.

“Bill has had a remarkable career at Parker,” said Cathy Suever, Executive Vice President - Finance & Administration and Chief Financial Officer. “While leading Parker’s global Information Technology (IT) organization, he established a center-led strategy to improve efficiency and expand the capabilities of the function to align with the needs of our operations. Bill will be remembered for his extensive knowledge, skillful leadership and strong character. I would like to thank Bill for his many contributions to Parker and wish him and his wife Lee Ann the very best in retirement.”

Mr. Eline joined Parker as a management trainee with the Hose Products Division in 1978, and held several positions in materials control and accounting before becoming the IT Coordinator for the Parflex Division in 1983. He progressed to the role of Group I/S Manager for the Fluid Connectors Group in 1988. In 1996, he relocated to the U.K. as Vice President, Business Systems International, where he worked with the IT professionals in Europe to establish a Technology Center providing enterprise system support for Parker's international operations. Mr. Eline returned to the U.S. and was appointed Vice President - Chief Information Officer in August 2002.

Commenting on Mr. Parel’s new role as Vice President - Chief Information Officer, Ms. Suever said, “Dinu’s diverse leadership expertise and proven track record of driving change aligned to business strategy will serve him well at Parker, as he assumes responsibility for leading our global IT organization and strategy. His leadership will help support the needs of our team members and business operations and continue our ability to provide a premier experience for our customers by enabling Parker’s enterprise and digital capabilities.”

Mr. Parel comes to Parker from Dover Corporation, where he was appointed as the company’s first-ever Chief Information Officer. In that role he developed and implemented a transformational initiative to position IT as a strategic business partner, and had responsibility for global IT strategy, cyber security and shared services. Prior to joining Dover, Mr. Parel held increasing responsibilities at Baker Hughes, including Integration Officer - IT, Head of IT - North America Region, Senior Director - Enterprise Application, and Director - Program Management Office. He holds Bachelor of Science and Master of Science degrees in Computer Engineering from Stevens Institute of Technology, a Master of Business Administration from Rice University, and completed the Global Leadership Program at Duke University.

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