The board of directors of power management company Eaton announced a number of senior leadership appointments on Tuesday in anticipation of Chairman and Chief Executive Officer Alexander M. “Sandy” Cutler’s retirement at the end of May 2016.

Craig Arnold, 55, has been appointed president and chief operating officer of Eaton and a member of the board of directors, effective Sept. 1, 2015. Arnold will be appointed chairman and chief executive officer of Eaton on June 1, 2016. Cutler, who has been Eaton’s chairman and chief executive officer since August 2000, will retire on May 31, 2016, having reached Eaton’s mandatory CEO retirement age of 65.

The appointments are the result of the board’s multi-year succession management process to continue the evolution of Eaton’s strategy and performance capabilities and to sustain the company’s values-based culture.

“Our entire board wishes to congratulate Craig on his promotion and to thank Sandy for his ongoing outstanding leadership and strategic vision,” said Ned C. Lautenbach, the lead director of Eaton’s board of directors. “We have had the opportunity to work closely with Craig and admire his keen intellect and impressive record of accomplishments.”

Read more here.