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Snap-on Incorporated Appoints Deloitte & Touche LLP as Independent Auditor
Previously, Snap-on announced it had initiated a process to consider and select the company's independent public accountants. Snap-on's Audit Committee, composed of independent directors, carefully reviewed and considered a number of public accounting firms in making its recommendation to the Board of Directors.
"We believe Deloitte & Touche LLP will provide the strict standards of independence and professionalism in audit service that will continue to best serve our shareholders in the future," said Richard F. Teerlink, a director and chair of the Audit Committee.
Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tool, diagnostic and equipment solutions for professional tool users. Product lines include hand and power tools, diagnostics and shop equipment, tool storage, diagnostics software and other solutions for vehicle-service, industrial, government and agricultural customers, and commercial applications, including construction and electrical. Products are sold through its franchised dealer van, company-direct sales and distributor channels, as well as over the Internet. Founded in 1920, Snap-on is a $2+ billion, S&P 500 company headquartered in Kenosha, Wisconsin, and employs approximately 13,500 people worldwide.
CONTACT: Snap-on Incorporated
Richard Secor (MR), 262/656-5561
or
William Pfund (IR), 262/656-6488
URL: www.snapon.com
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