The Kennametal Inc. Board of Directors today named Markos I. Tambakeras Chairman of the Board, in addition to his present responsibilities as president and chief executive officer and extended his employment contract. Both actions are effective July 1.
Tambakeras, 51, said. "I appreciate the board's vote of confidence and look forward to working with our 12,000 employees worldwide to help the company achieve even greater success in the future."
William R. Newlin, chairman of the board since 1996 and a director since 1982, said Tambakeras had earned the right to lead Kennametal's board. Newlin will assume the role of lead director and will continue to chair the Executive Committee of the Board. "I look forward to continuing to support Markos and the board of directors in my new role," he said.
Prior to joining Kennametal, Tambakeras served 19 years with Honeywell Inc., most recently as president of its Industrial Controls division in Phoenix, Ariz.
Tambakeras received his bachelor's degree in industrial chemistry from the University of Witwatersrand in Johannesburg, South Africa. He received his master's of business administration degree in marketing at Loyola Marymount University, Los Angeles, Calif.
Tambakeras is a member of the Board of ITT Industries, vice chairman of the Board of Trustees of the Manufacturers Alliance/MAPI, the Board of Directors of Saint Vincent College, Latrobe, Pa., and serves on the board of the Allegheny Conference in Pittsburgh, Pa.
Kennametal Inc. aspires to be the premier tooling solutions supplier in the world with operational excellence throughout the value chain and best-in- class manufacturing and technology. Kennametal strives to deliver superior shareowner value through top-tier financial performance. The company provides customers a broad range of technologically advanced tools, tooling systems and engineering services aimed at improving customers' manufacturing competitiveness. With approximately 12,000 employees worldwide, the company's fiscal 2001 annual sales were $1.8 billion, with a third coming from sales outside the United States. Kennametal is a five-time winner of the GM "Supplier of the Year" award and is represented in more than 60 countries. Kennametal operations in Europe are headquartered in Furth, Germany. Kennametal Asia Pacific operations are headquartered in Singapore. For more information, visit the company's web site at http://www.kennametal.com/
SOURCE: Kennametal Inc.
Contact: Investor Relations: Beth A. Riley, +1-724-539-6141, or Media
Relations: Steve Halvonik, +1-724-539-4618, both of Kennametal