The chairman of the board for Dover Corporation, which owns Warn Industries and Performance Motorsports as well as a number of other manufacturing companies, will retire May 1, the company said in a press release March 11. Thomas Reece has served as the company’s chair for more than 40 years.
Dover’s board elected James Koley as lead director. Koley has been on the board since 1989 and currently serves as chairman of the governance and nominating committee. It is anticipated that he will be elected chairman of the board at the May 2008 board meeting, when Reece’s term expires.
Reece began his business career in 1965 at age 22 when he joined Ronningen-Petter, a company Dover acquired in 1968. He became president of Ronningen-Petter in 1971 and was subsequently promoted to increased responsibilities as president of two other Dover companies. He became the company’s CEO in 1994, and was elected as chairman in 1999.