ORANGE, Conn.--(BUSINESS WIRE)--June 7, 2001--The Board of Directors of Hubbell Incorporated (NYSE: HUBA, HUBB) today announced that Timothy H. Powers has been elected President and Chief Executive Officer effective July 1, 2001. He has also been elected to the Company's Board. Mr. Powers will succeed G. J. Ratcliffe, 65, who has led Hubbell's senior management since 1987 and who will continue to serve as Chairman of the Board of Directors.
Mr. Powers, 53, who has been the Company's Senior Vice President and Chief Financial Officer since joining Hubbell in 1998, brings broad experience in corporate and operations management in industrial manufacturing of utility, electrical, and electronic products. Prior to joining Hubbell, he served in positions of increasing responsibility with ABB Inc. As Executive Vice President, Finance and Business Development, Americas Region at ABB, his accomplishments included leading a highly successful international acquisition program, building the company's U.S. Financial Services organization into a profitable business, directing the reorganization and consolidation of operations from Canada to South America, and instituting financial management and operations programs which substantially improved cash flow.
He gained additional domestic and international experience in prior positions at ABB and a subsidiary of Brown Boveri, Ltd., before its 1988 merger with ASEA AB to form ABB Inc. He led the consolidation and redirection of ABB Americas Region's businesses through an active program of acquisition and divestiture. In addition, he had direct responsibility for operations at several business units, and conducted the restructuring of a utility products operation.
Mr. Powers holds a B.A. in Economics and Accounting from Wittenburg University and an M. B. A. in Economics and Management from John Carrol University. He is married and has three children.
Hubbell Incorporated is an international manufacturer of quality electrical and electronic products for commercial, industrial, utility, and telecommunications markets. With approximately $1.4 billion in annual revenues, Hubbell Incorporated operates manufacturing facilities in North America, Puerto Rico, Mexico, Italy, Switzerland, and the United Kingdom, participates in a joint venture in Taiwan, and maintains sales offices in Singapore, Hong Kong, South Korea, People's Republic of China, and the Middle East. The corporate headquarters is located in Orange, CT.
Hubbell Incorporated, Orange Thomas R. Conlin 203-799-4100