Former Crane Co. CFO Succeeds John F. McNiff

NEW YORK, Feb. 9 /PRNewswire/ -- Dover Corporation (NYSE: DOV) today announced the appointment of David S. Smith as Vice President, Finance and Chief Financial Officer, succeeding John F. McNiff, who has elected to retire as of April 30, 2000.

Mr. Smith, who will assume his new position at Dover on March 13, 2000, currently serves as Vice President, Finance and CFO of Crane Co., a diversified manufacturer of industrial products.

"David represents an outstanding talent, with proven ability at both the strategic and operational levels," said Thomas L. Reece, Dover Chairman and Chief Executive Officer. "His experience is particularly pertinent because there are many similarities between Dover and Crane. Although we will certainly miss John, who has served as CFO with a sharp analytic mind since 1983, I look forward to welcoming David to our strong management team."

Prior to joining Crane in 1991, Mr. Smith was a Vice President at Bankers Trust. He received an M.B.A degree from the Wharton School of the University of Pennsylvania and a B.A. degree in History from Columbia University.

Dover Corporation is a diversified manufacturer of industrial products with more than $4 billion of sales.

SOURCE Dover Corporation

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