Stephen M. Todd and Stephen K. Wagner Join Dover Corporation's Board as Outside Directors

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Nov 10, 2010, 04:05 ET

DOWNERS GROVE, Ill., Nov. 10, 2010 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE: DOV) today announced that Stephen M. Todd and Stephen K. Wagner have been elected to the Company's Board of Directors. The addition of Mr. Todd and Mr. Wagner increases the size of the Board from 11 to 13 directors.

Robert A. Livingston, Dover's President and Chief Executive Officer, said, "Messrs. Todd and Wagner have led distinguished careers at highly respected global accounting firms, and we are pleased to be adding two outside directors of their caliber and proven track record to our Board of Directors. These gentlemen have strong business backgrounds with particular expertise in audit and corporate governance, and offer a broad range of both domestic and international experiences. Dover will greatly benefit from their valuable insight."

About Mr. Todd

Mr. Todd, 62, brings to the Dover Board significant financial experience in both domestic and international business following a 40-year career at Ernst & Young (E&Y) where he specialized in assurance and audit. Mr. Todd is currently an independent consultant for E&Y and recently retired as Global Vice Chairman of Ernst & Young Global Limited's Assurance Professional Practice, a position he held since 2003 in London, England. He began his career at E&Y as an auditing professional in 1970. Mr. Todd is a member of the Board of Trustees of Ancora Trust, a registered Investment Company.

About Mr. Wagner

Mr. Wagner, 63, is currently Senior Advisor to, and for the past five years was the Managing Partner of, Deloitte & Touche's Center for Corporate Governance. His career with Deloitte spans more than 30 years and includes a variety of partner-level roles beginning in 1982. Mr. Wagner serves on the Board for the United Way of Mass Bay, the Board of Overseers for WGHB, Boston's National Public Television branch, and the audit committee for Milton Academy.

Dover Corporation is a diversified manufacturer of innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.