Cleveland, Oh., USA - November 30, 2010, Cleveland, Oh., USA - Parker Hannifin Corporation, a manufacturer of motion and control systems, announced that VP of finance and administration and CFO Timothy K. Pistell will retire, effective immediately.
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Mr. Pistell was named Executive Vice President – Finance and Administration & Chief Financial Officer of Parker Hannifin Corporation on April 21, 2005. He has been with the company since 1969, joining the company as a corporate accounting trainee, and has served in various financial management posts within Parker.
Mr. Pistell most recently served as Vice President-Finance & Administration and Chief Financial Officer, and prior to that was Vice President, Treasurer of Parker. In this role he was responsible for all treasury functions as well as leading investor relations. He has additionally served as Director, Business Planning, and Vice President, Finance/Controller, Located in England.
Mr. Pistell graduated from Miami University of Ohio with a bachelor’s degree in accounting. He received a master’s degree in business administration from Baldwin Wallace College in 1984. Tim is a member of the Association for Financial Professionals, the Financial Executives Institute, and MAPI CFO Council.
Mr. Pistell also serves on the executive boards of the Northeast Ohio Buckeye Chapter of the Multiple Sclerosis Society, and the Great Lakes Theater Festival. In September 2007, he was appointed to the Board of Trustees of the Playhouse Square Foundation.
In October of 2008, Mr. Pistell won the Crain’s Cleveland Business CFO of the Year Award in the Large Public Company category, and in 2010 was chosen as Best CFO by Institutional Investor magazine in the Machinery Sector, and was named as part of the 2010 All-American Executive Team.
The company also announced that vice president and controller Jon P. Marten had been promoted to Pistell's position.
Mr. Marten is currently Vice President, Corporate Controller for Parker Hannifin Corporation. He is also an elected Officer of the Corporation and the Chief Accounting Officer.
Mr. Marten joined Parker as a financial analyst in the Aerospace Group in 1987. He advanced through Parker holding positions including Division Controller and Vice President, Group Controller for several different divisions and two operating groups as well as Assistant Corporate Controller. ■