This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Applied Industrial Technologies Names Neil A. Schrimsher As Its New Chief Executive Officer

Stocks in this article: AIT

CLEVELAND, Oct. 17, 2011 /PRNewswire-FirstCall/ -- The Board of Directors of Applied Industrial Technologies (NYSE: AIT) today announced Neil A. Schrimsher will become the Company's new Chief Executive Officer effective October 25, immediately following Applied's annual shareholder meeting, at which time he will also be appointed to the Board of Directors.  Mr. Schrimsher will succeed David L. Pugh, who previously announced he would retire and step down from the Board.  Mr. Schrimsher was selected in a thorough search process by the Board with an internationally recognized executive search firm.

Mr. Schrimsher, age 47, was most recently Executive Vice President of Cooper Industries, a $5.1 billion (2010 revenues) global electrical products manufacturer, where he lead multiple businesses in Cooper's Electrical Products Group and headed numerous domestic and international growth initiatives.  Prior to joining Cooper in 2006 as President of Cooper Lighting, he worked in Atlanta for Siemens Energy & Automation, part of Siemens AG, the global electronics and electrical engineering company, as Vice President, Residential Infrastructure Division (2001-2003), and Vice President, Power Distribution & Controls (2003-2006).  He began his career at General Electric Company in 1984 and rose through a succession of positions in GE Lighting, including National Sales Manager and General Manager of Commercial & Industrial Marketing.  He worked at GE Lighting headquarters in Cleveland from 1991-1994 and from 1998-2001.  Neil holds an MBA from John Carroll University and a BS in Business Administration (Marketing) from the University of Tennessee.

" Neil Schrimsher is an outstanding, seasoned leader with extensive experience and an exceptional track record of driving profitable growth at GE, Siemens and Cooper Industries," said Applied's presiding non-management director, Peter C. Wallace.  "Throughout his career, he has been highly active with end users and selling through distribution, so he has an excellent understanding of industrial distribution business from a manufacturer's viewpoint and a customer's perspective.  In leading global businesses at Cooper and Siemens, he built and executed strategies, drove operational improvements and generated growth -- both organically and through acquisitions.  The Board is absolutely delighted to have Neil joining Applied Industrial Technologies as its new Chief Executive Officer.  We believe he is a strong fit and the right person to lead the company to new heights of success."

With approximately 470 facilities and 4,600 employee associates across North America, Applied Industrial Technologies is an industrial distributor that offers more than 4 million parts critical to the operations of MRO and OEM customers in virtually every industry.  In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services.  Applied also offers maintenance training, plus solutions to meet inventory and storeroom management needs that help provide enhanced value to its customers.  For its fiscal year ended June 30, 2011, Applied posted sales of $2.2 billion.  Applied can be visited on the Internet at

SOURCE Applied Industrial Technologies

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs