Corporate and Financial News

Dover Announces Retirement of Board Members Peter T. Francis and Richard K. Lochridge

DOWNERS GROVE, Ill., Feb. 25, 2019 /PRNewswire/ -- Dover Corporation (NYSE: DOV) today announced that Peter T. Francis and Richard K. Lochridge will not stand for reelection at the company’s annual meeting in May 2019, when their current terms expire. 

Mr. Francis has been a Dover director since 2007. He is the former Chair, President and CEO of J.M. Huber Corporation, a privately held, diversified company focused on engineered materials, natural resources and technology-based services. Mr. Francis currently serves as Managing Member of Mukilteo Investment Management Company, responsible for investments in gas royalty and real estate partnerships, private equity funds, leveraged buyouts and stock portfolios. He is also a Faculty member at the Stanford University Graduate School of Business, where he teaches courses on business transition planning.

Mr. Lochridge has been a Dover director since 1999. He is the retired President of Lochridge & Company, Inc., a management consulting firm. For many years, he worked with Boston Consulting Group where a majority of his experience was with non-U.S. companies or covering international or global markets. Mr. Lochridge also serves as a director of Knowles Corporation, and is a former director of The Lowe’s Company, Inc. and PETsMART Inc. 

Michael F. Johnston, Dover's independent Chairman of the Board, and Richard J. Tobin, Dover’s President and Chief Executive Officer, said, "It is an honor and distinct pleasure to have served on the Board with both Peter and Dick. Peter’s Board and strategic leadership experience as a former CEO, coupled with his international business experience and expertise in investment management, made him a tremendous asset to our Board. Dick brought our Board invaluable perspectives on strategy, organizational processes, global operations, leadership development, and risk-management. On behalf of the entire Board, we thank each of them for their guidance and significant contributions to Dover over their years of dedicated service.”  

About Dover: 

Dover is a diversified global manufacturer with annual revenue of approximately $7 billion. We deliver innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services through three operating segments: Engineered Systems, Fluids and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of over 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at