| - Manfred Seitz retires after 34 years with Bosch|
- Terry Horan named President and CEO of Robert Bosch Tool Corporation
MOUNT PROSPECT, Illinois – The Robert Bosch Tool Corporation has announced that Terry Horan will succeed Manfred Seitz as president and chief executive officer, effective April 1, 2011.
Seitz will retire the end of March 2011 as chairman, president, and chief executive officer of the Robert Bosch Tool Corporation after 34 successful years leading several different divisions of the Bosch Group.
Born in Frankfurt, Germany, Seitz joined Bosch in 1977, after completing a degree in economics, and began his career in the Blaupunkt division. He had increasingly critical roles in various Bosch divisions around the world, spending the last seven years in the United States at Power Tools.
With a long-term focus on sustaining the future, Seitz led Power Tools through the last few years of challenging economic conditions in the construction industry to a strong finish in 2010.
Terry Horan has led the worldwide Rotary Tool business of the Robert Bosch Tool Corporation for the past six years, engineering a successful turnaround for the Dremel brand resulting in double-digit sales increases over the past several years.
A 25-year veteran of the Home Improvement Industry in North America, Horan has a strong sales, marketing and general management background. He has spent 13 years with Bosch Power Tools leading both the SKIL brand during the Emerson Electric–Bosch joint venture period and, more recently, as president of the Rotary Tools business, which includes Dremel and RotoZip.
Horan holds an MBA degree from the University of Notre Dame and a BS Marketing degree from Northern Illinois University. He is actively involved on academic and athletic boards and advisory councils at Northern Illinois University.
A native of Mount Prospect, Illinois, the home of Robert Bosch Tool Corporation in North America, Horan is a local leader with industry acumen and strong community ties.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer good and building technology, some 275,000 associates generated sales of $53 billion (38.2 billion euros) in fiscal 2009. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in over 60 countries. If its sales and service partners are included, then Bosch is repre¬sented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for growth. Each year, Bosch spends more than $5 billion (3.5 billion euros) for research and development, and applies for some 3,800 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial.
About Bosch in North America
In the U.S., Canada and Mexico, the Bosch Group manufactures and markets automotive original equipment and aftermarket products, industrial drives and control technology, power tools, security and communication systems, packaging technology, thermotechnology, household appliances, solar energy and healthcare products. Having established a regional presence in 1906, Bosch employs over 20,000 associates in more than 70 locations, with reported sales of $7.3 billion in fiscal 2009.
About Robert Bosch Tool Corporation
Robert Bosch Tool Corporation in North America, was formed in January 2003 when Robert Bosch GmbH combined its North American power tool, accessory and lawn and garden divisions into one organization. As a manufacturing pioneer with more than a century’s worth of experience, the Bosch name has become synonymous with engineering excellence. The Robert Bosch Tool Corporation is a world leader in the design, manufacture and sale of power tools, rotary and oscillating tools, accessories, laser and optical leveling and range finding tools, and garden and watering equipment.
For more information about Bosch Tools, call toll free 877-BOSCH-99 (877-267-2499) or visit www.boschtools.com
For more information about the Bosch Group, visit www.boschusa.com.
President/CEO Robert Bosch Tool Corporation - January 2011