Snap-on Pres., CEO Pinchuk Named Director Of Board

KENOSHA, Wis. (AP) — Toolmaker Snap-on Inc. of Kenosha says president and chief executive officer Nicholas Pinchuk has been elected chairman of its board of directors.

Pinchuk succeeds Jack D. Michaels, who is leaving the board after his term expired Thursday.

Pinchuk joined Snap-on in 2002 as senior vice president and president of its worldwide commercial and industrial group. He was named president and chief executive officer in December 2007.

Snap-on makes hand and power tools and shop equipment.

Shares of Snap-on rose $1.65, or 5.2 percent, to close Thursday at $33.40.

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On the Net:

Snap-on Inc.: http://www.snapon.com/