By PYC Bearings
©2004-2008
Dover Corporation (NYSE: DOV) announced today that S. (Soma) Somasundaram has been promoted to the position of President of the Fluid Solutions platform effective January 1, 2008. As announced in September 2007, the Fluid Solutions platform as well as the Energy platform make up the Fluid Management segment under Dover's new strategic corporate structure. In Soma's new role of managing this $700 million platform, he will report to Bill Spurgeon, President of the Fluid Management segment.
Mr. Somasundaram joined Dover in 2004 as President of RPA Process Technologies, and had been President of the Gas Equipment Group. Mr. Somasundaram began his career at the Baker Oil Tools division of Baker Hughes, and advanced through positions of increasing responsibility in the energy, chemical and process industries before joining Dover. Soma has a Master of Science degree in Industrial Engineering from the University of Oklahoma and brings strong international business experience to his new role, having lived and worked in India, Germany, Singapore, and Australia.
"We are pleased that Soma has decided to accept the challenge of managing and growing our valuable Fluid Solutions platform. Soma has shown tremendous leadership ability and business acumen during his time with Dover and we are confident he will bring those same skills to this new assignment and drive significant improvements," said Ronald L. Hoffman, President & Chief Executive Officer of Dover.
"As we stated at our annual investor day, the new segment structure helps to identify and develop executive talent throughout the entire organization. The appointment of Soma, as well as the recent appointments of experienced leaders for our Material Handling and Engineered Products platforms, will serve to drive future growth, best practices and synergy capture," Hoffman concluded.
Dover Corporation, with over $7 billion in annualized revenues, is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets. For more information, please visit www.dovercorporation.com.