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Snap-on Names Joseph R. Abbud, Vice President for Rapid Continuous Improvement
KENOSHA, Wis.--(BUSINESS WIRE)--Sept. 28, 2005--Snap-on Incorporated (NYSE:SNA) announced today that Joseph R. Abbud will join the company in the newly created position of Vice President - Rapid Continuous Improvement, effective October 1, 2005. He will report directly to Jack D. Michaels, Chairman, President and Chief Executive Officer. Abbud will have responsibility for ensuring the implementation and continued evolution of manufacturing and operating best practices on a company-wide basis.
Abbud, 44, most recently led continuous improvement as Worldwide Director Operational Excellence, at ITT Industries Electronics Division in Hong Kong, PRC, previously having held positions of progressively increased responsibilities, including plant and manufacturing management. He has extensive experience in establishing and implementing manufacturing and supply chain initiatives, which resulted in significantly improved customer satisfaction, cost competitiveness and increased operating cash flow.
"With a solid track record of improving on-time delivery and establishing better cost competitiveness in North and South America, Europe and Asia-Pacific, Joseph will provide valuable leadership as we continue our priority on taking better care of our customers and dealers, and the further elimination of waste and complexity to improve our quality, delivery and costs," said Michaels. "He is a high-energy, passionate leader who brings a results-oriented mindset and substantial expertise to our management team."
Abbud holds a Bachelor of Science degree in Industrial Engineering from Monterrey Institute of Technology, Monterrey, Mexico, a Master in Quality Systems from the International Institute of Strategic Administration, Torreon, Mexico, and is a graduate of the Financial Management Program at the Colgate Darden Graduate School of Business Administration, University of Virginia.
Snap-on Incorporated is a leading global developer, 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 products, diagnostics software and other solutions for transportation-service, industrial, government, education and agricultural customers, and other commercial applications, including construction and electrical. Products are sold through its franchise dealer van, company direct sales and distributor channels, and the Internet. Founded in 1920, Snap-on is a $2.4 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
CONTACT: Snap-on Incorporated
Richard Secor (Media), 262-656-5561
or
Bill Pfund (Investor), 262-656-6488
www.snapon.com
SOURCE: Snap-on Incorporated