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Snap-on Incorporated Appoints Karen L. Daniel to Board of Directors
KENOSHA, Wis.--(BUSINESS WIRE)--Dec. 9, 2005--Ms. Karen L. Daniel, executive vice president and chief financial officer of Black & Veatch Corporation has been appointed to the board of directors of Snap-on Incorporated (NYSE:SNA), a global leader in tools, diagnostics and equipment.
Ms. Daniel, 46, joined Black & Veatch in 1992 and oversees all finance functions for the corporation. Before being named chief financial officer in January 2000, she held positions of increasing responsibility, including being nominated as an executive director, at Black & Veatch. That nomination will be presented for approval at their Annual Shareholders Meeting in 2006. Black & Veatch is a leading global engineering, construction and consulting company specializing in infrastructure development in the areas of energy, water and information.
Prior to joining Black & Veatch, Ms. Daniel had been a senior audit manager for the public accounting firm of KPMG Peat Marwick.
Ms. Daniel is also a member of the Greater Kansas City Community Foundation Board, a member of the Board of Regents of Northwest Missouri State University, and a board member of MRI, an independent, not-for-profit contract research organization.
"We are pleased to have Karen Daniel join our board," said W. Dudley Lehman, Snap-on director and chairperson of the Corporate Governance and Nominating Committee. "In addition to her leadership capabilities, she brings a broad perspective on finance and strategy development."
Snap-on believes Ms. Daniel meets the independence requirements of the New York Stock Exchange. Her appointment increases the Snap-on board to 10 members. Additionally, Ms. Daniel will be put forward as a nominee for election at Snap-on's 2006 Annual Meeting of Shareholders to serve for a new three-year term.
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 $2.4 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
CONTACT: Snap-on Incorporated
Media contact:
Richard Secor, 262-656-5561
or
Investor contact:
William Pfund, 262-656-6488
www.snapon.com
SOURCE: Snap-on Incorporated