March 21, 2018 — Two days after resigning his position as CEO and director of CNH Industrial on Monday, March 19, Richard Tobin has been named president and CEO of Dover Corp. He is replacing Robert Livingston who is retiring on April 30, 2018. Tobin will assume his duties at the company on May 1. Livingston is leaving Dover following a 35-year career, including a 9-year tenure as its president and CEO. Tobin has more than 30 years of experience in international management and finance, acquired through global leadership roles.
According to its website, “Dover is a diversified global manufacturer with annual revenue of approximately $8 billion. We deliver innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services through four operating segments: Engineered Systems, Fluids, Refrigeration & Food Equipment and Energy. 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 29,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Ill., Dover trades on the New York Stock Exchange under "DOV."
“Rich’s appointment and the orderly transition announced today are the culmination of a succession plan that the Board of Directors has been engaged in for the past several years,” said Michael F. Johnston, chairman of Dover’s Board of Directors. “Bob and the Board believe this is the appropriate time for a transition given the anticipated early May completion of the Apergy spin. We have been impressed by Rich’s contributions to the Board and are confident that he is the right leader to guide Dover through the next phase of its evolution. His extensive experience as a public company CEO leading complex global industrial businesses and his expertise in finance and technology make him the ideal candidate to lead Dover.
“It has been a privilege to lead Dover for the past 9 years and a pleasure to have worked with so many talented colleagues during my 35 years at the company,” Livingston said.
Tobin served as CEO and a member of the Board of Directors of CNH Industrial N.V., a global manufacturer of agricultural and construction equipment, trucks, commercial vehicles, buses, specialty vehicles and powertrain applications, from 2013-18. Prior to the integration of Fiat Industrial S.p.A. and CNH Global N.V. into CNH Industrial, Tobin was group COO of Fiat Industrial S.p.A. and president and CEO of CNH Global N.V., a role he assumed in January 2012 after 2 years as CFO of CNH Global N.V. Prior to joining CNH, Tobin was with SGS Group of Geneva, Switzerland, most recently serving as CFO and head of information technology.