NEW YORK -- David R. Van Loan, president of test equipment maker
Everett Charles
Technologies, will move one rung higher, taking over as president of
Dover Technologies. A successor at ECT has not yet been named.
Dover Technologies is a
$1.5 billion subsidiary of
Dover Corp. and the parent of ECT. Its companies include
Universal Instruments Corp. and
DEK.
Van Loan, who has been with ECT since 1981, will report to outgoing
president and current chief executive John Pomeroy. That won't last
long: Pomeroy will retire
within the next year.
Van Loan will also take over the responsibilities of Gerhard Meese, executive vice president of Dover
Technologies, who is retiring in the same time frame.
In a press statement Dover CEO Ron Hoffman said, "Dave has done an excellent job of
building Everett Charles into the premier test interconnect equipment supplier
to the circuit board and back end semiconductor markets. He has displayed
great strategic vision in guiding his company and will bring his high energy
level and proven track record of delivering outstanding operating results to
his new role."
On April 19 Dover Corp. reported earnings of $100.3 million from continuing
operations for the first quarter ended March 31, compared to
$83.8 million last year, an increase of 20%. Net earnings were
$98.1 million including $2.1 million of losses from discontinued
operations, compared to $83.1 million. Sales were up 17% to a record $1.45 billion.