Donald E. Washkewicz was the newly appointed CEO of Parker Hannifin Corporation when he ascended to the post in 2000. Focused on growth and profitability, his strategies led the company to achieve new heights, turning the 100-year-old industrial firm into one of the leading diversified manufacturing companies in the world. Washkewicz’s leadership, successful acquisition strategies, and technological advances have positioned Parker Hannifin Corporation as a world leader in motion control, control systems, and specialty systems.
Donald E. Washkewicz was born in Cleveland, Ohio. He received a bachelor's degree in engineering from the University of Akron, and a master's degree in business administration from the University of Michigan. After working five years for General Motors, Washkewicz joined Parker Hannifin Corporation in 1977. At the time, the company’s main products were fluid power components and systems. Over the years, Washkewicz served in several positions of increasing responsibility at Parker Hannifin. In 1997, he became executive vice president, and two years later was appointed president and CEO. His leadership extended beyond Parker Hannifin to the corporate arena as a whole, especially within the fluid power industry, the machine parts industry, and the aerospace and defense industries. With Washkewicz at the helm of Parker Hannifin, the company transformed itself into an international enterprise with more than $10 billion in annual sales.
Washkewicz’s strategy since joining the company was to pursue profitable growth. In the early 2000s, Parker Hannifin implemented a series of acquisitions that allowed the company to expand into equipment and systems for the automotive, aerospace, commercial-vehicle, and industrial markets. In 2001, Washkewicz directed the company's move into new markets, buying a series of aerospace companies, including Lockheed Martin's industrial-gases business. Washkewicz also spearheaded the acquisition of a number of operations in the aerospace and defense industries, leading Parker Hannifin to become a leading supplier of motion and control products.
Washkewicz recognized that in order to stay competitive, Parker Hannifin had to stay ahead of the technological curve. He developed a clear vision of how technology could be used to reduce costs and increase business efficiency. To that end, Washkewicz targeted digital and other technological advances. A new focus was placed on automation and robotics, as well as process and cost improvements. Washkewicz also identified e-commerce as an important new source of revenue. To ensure technological innovation, Washkewicz invested in research and development, and hired talented engineers and scientists.
The technological advancements achieved under the leadership of Washkewicz allowed Parker Hannifin to remain an innovative leader in motion control and other industrial systems. The company began to develop new products in aerospace, medical device, food processing and information technology. Each new product, from valves to smoke control systems, provided the company with greater capabilities and enabled it to reach larger markets.
Washkewicz’s strategies to pursue growth in e-commerce and analytics, expand internationally, and develop new products were eventually recognized as a modern benchmark of success in business. His accomplishments with Parker Hannifin earned Washkewicz numerous awards, including being named “CEO of the Year” in 2008 by IndustryWeek Magazine.
In 2015, Washkewicz stepped down as CEO of Parker Hannifin Corporation, leaving behind a legacy of successful strategies. Through the implementation of these strategies, Washkewicz lead Parker Hannifin to achieve new heights, making the company an international leader in motion control, control systems, and specialty systems. Washkewicz’s legacies of innovation, strategic decision-making, and technological advancements have made Parker Hannifin an example for other companies to follow.
