Parker Hannifin Corporation , the global leader in motion and control technologies, announced that Timothy K. Pistell, Executive Vice President - Finance and Administration and Chief Financial Officer, will retire after 41 years of dedicated service to the company.

Mr. Pistell plans to remain with the Company as Executive Vice President until March 31, 2011 to allow for a smooth and orderly transition of his responsibilities. The Board of Directors has elected Jon P. Marten, currently Vice President and Controller, to replace Mr. Pistell.

"Tim has had an outstanding career at Parker with many significant contributions spanning four decades, especially among Parker's financial team and in his working relationships with the investment community," said Chairman, CEO and President, Don Washkewicz. "It has been an honor to work side by side with such a talented and dedicated senior leader. Tim has been instrumental in helping us drive improved financial performance and shareholder returns through the execution of the Win Strategy. We wish him the best in his retirement".

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