Intelligent power management company Eaton celebrated the 100th anniversary of its listing on the New York Stock Exchange (NYSE) by ringing the opening bell on Tuesday, March 7. Chairman and CEO Craig Arnold was joined by members of Eaton’s senior leadership team to commemorate this historic milestone.
“We’re honored to celebrate our company’s longevity on the New York Stock Exchange,” said Arnold. “This milestone reflects Eaton’s enduring ability to adapt to the changing world and to serve the needs of all our stakeholders – our shareholders, customers, communities, and our colleagues.”
Since its founding in 1911 as a U.S.-based truck axle company, Eaton has reinvented itself time and again. Over the decades, the company diversified into an automotive and truck component supplier, then expanded as a diversified industrial manufacturing company through acquisitions like Cutler-Hammer, Westinghouse’s Distribution and Control business, and Aeroquip-Vickers.
These acquisitions formed the foundation of its electrical business and enhanced the company’s presence in the aerospace market. Later, the company refocused on power management and energy efficiency through the acquisitions of Powerware, the Moeller Group and Cooper Industries and, more recently, Souriau-Sunbank and Tripp Lite.
Today, Eaton is a global intelligent power management company with operations in 170 countries, more than 91,000 employees and $20.8 billion in revenues in 2022, with approximately 90% of profits coming from its Aerospace and Electrical businesses.
Arnold continued, “I’m proud of the culture we’ve built and all that our company and its people have achieved. And I believe our best days are still ahead as we enter a growth cycle driven by the transformational global growth trends of energy transition, electrification and the digitalization of society.”
