KENOSHA, Wis.--(BUSINESS WIRE)--June 5, 2008--Mr. Nathan J. Jones has been appointed to the board of directors of Snap-on Incorporated (NYSE: SNA), a global leader in tools, diagnostics and equipment, effective July 1, 2008.
Mr. Jones, 52, served for 28 distinguished years with Deere & Company, a $24 billion global manufacturer and distributor of agricultural, construction, forestry, commercial and consumer equipment and a provider of financial services. Mr. Jones was a senior officer of the company for 10 years, including eight as Senior Vice President & Chief Financial Officer and two as President, Worldwide Commercial & Consumer Equipment Division before retiring in December 2007.
"We are pleased to have Nathan Jones join our board," said W. Dudley Lehman, Snap-on director and chair of the Corporate Governance and Nominating Committee. "Nate's broad set of financial and operational skills and experience will greatly benefit the Board and Snap-on."
Snap-on believes Mr. Jones meets the independence requirements of the New York Stock Exchange. His appointment increases the Snap-on board to 12 members. Mr. Jones will be put forward as a nominee for shareholder ratification and election at Snap-on's 2009 Annual Meeting of Shareholders.
Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as customers in industry, government, agriculture, aviation and natural resources. Products and services are sold through the company's franchisee, company-direct, distributor and Internet channels. Founded in 1920, Snap-on is a $2.8 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
For additional information on Snap-on, visit www.snapon.com.
SOURCE: Snap-on Incorporated