Investor Conference DECEMBER 3, HILLENBRAND, INC HILLENBRAND, INC.

Transcription

1 Investor Conference DECEMBER 3, 2008 HI HILLENBRAND, INC HILLENBRAND, INC.

2 Mark Lanning Vice President of Investor Relations & Treasurer HILLENBRAND, INC.

3 Hillenbrand Team Introductions Ken Camp President & Chief Executive Officer Cindy Lucchese Senior Vice President & Chief Financial Officer Joe Raver Senior Vice President, Hillenbrand, Inc. President & COO, Batesville Casket Company Mark Lanning Vice President of Investor Relations & Treasurer HILLENBRAND, INC.

4 Agenda 9:00 a.m. Welcome & Introductions 9:30 a.m. Business Overview 10:15 a.m. Break 10:30 a.m. Hillenbrand, Inc. Strategy 10:45 a.m. Financial Review and 2009 Guidance 11:30 a.m. Wrap-Up and Q&A Noon Lunch HILLENBRAND, INC.

5 Forward-Looking Statements Certain statements in this presentation contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the company s future plans, objectives, beliefs, expectations, representations and projections. The company has tried, wherever possible, to identify these forward-looking statements using words such as intend, anticipate, believe, plan, encourage, expect, may, goal, become, pursue, estimate, strategy, will, projection, forecast, continue, accelerate, promise, increase, higher, lower, reduce, improve, expand, progress, potential or the negative of those terms or other variations of them or by comparable terminology. The absence of such terms, however, does not mean that the statement is not forward-looking. It is important to note that forward-looking statements are not guarantees of future performance, and the company's actual results could differ materially from those set forth in any forward-looking statements. Factors that could cause actual results to differ from forward-looking statements include but are not limited to: the company s ongoing antitrust litigation; the company s dependence on its relationships with several large national providers; continued fluctuations in mortality rates and increased cremations; ongoing involvement in claims, lawsuits and governmental proceedings related to operations; failure of the company s announced strategic initiatives to achieve expected growth, efficiencies or cost reductions; disruptions in the company s business or other adverse consequences resulting from the separation of Hillenbrand Industries into two operating companies; failure of the company to execute its acquisition and business alliance strategy through the consummation and successful integration of acquisitions or entry into joint ventures or other business alliances; competition from nontraditional sources in the funeral services business volatility of the company s investment portfolio; increased costs or unavailability of raw materials; labor disruptions; the ability to retain executive officers and other key personnel; and certain tax-related matters. For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading Risk Factors in the company s information statement filed as Exhibit 99.1 to the company s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on March 18, 2008, and, when filed, the company s Annual Report on Form 10-K for the year ended September 30, The company assumes no obligation to update or revise any forward looking information HILLENBRAND, INC.

6 Ken Camp President and Chief Executive Officer HILLENBRAND, INC.

7 Why Invest in Hillenbrand Now? STRONG CORE BUSINESS»»» Strong balance sheet, steady profitable growth and reliable, robust cash flow Iconic brand that is a clear industry leader HISTORY & CULTURE OF EXECUTION Proven, results-oriented management teams with operational, public company and acquisition experience Strong core competencies in continuous improvement and lean supply chain Long track record of increasing revenues and carefully managing expenses STRATEGY FOCUSED ON INCREASING SHAREHOLDER VALUE Accelerated growth through prudent acquisitions Meaningful return of cash to shareholders HILLENBRAND, INC.

8 Joe Raver Senior Vice President, Hillenbrand, Inc. President and COO, Batesville Casket Company HILLENBRAND, INC.

9 Industry and Core Company Overview HILLENBRAND, INC.

10 The Low Level of Customer Concentration in the Funeral Service Industry Favors Batesville s Capabilities 16,000 of 22,000 funeral homes (U.S. and Canada) are Batesville customers Average funeral home performs ~125 funerals per year Percent of Industry Revenue Independent 81% Source: Company estimates and public filings Regional Consolidators 3% National 16% Typical funeral home carries little or no product inventory Funeral homes and families dependent on casket suppliers for fast, reliable delivery HILLENBRAND, INC.

11 We are the Largest Player in the Largest Segment FUNERAL PRODUCTS ($2.6 BILLION INDUSTRY) Vaults $0.4 Cremation $0.3 CASKETS (TOTAL REVENUE $1.3 BILLION) Grave Markers $0.6 Caskets $1.3 Aurora Matthews Importers Other (100+) BATESVILLE CASKET (TOTAL REVENUE: $678 MILLION) Other 2% NorthStar 1% Options 7% Batesville Caskets 90% Source: Company estimates and public filings HILLENBRAND, INC.

12 Although Deaths are Flat and Burials are Slowly Decreasing NORTH AMERICAN MARKET CALENDAR YEAR 3,000 North American Market 2, MM DEATH CAGR 0.3% 2.7MM BURIAL CAGR (1.3%) DEATHS (000) 2,000 1,500 1, MM 1.7MM Proj. Burials Cremations Sources: CDC, Statistics Canada, Cremation Association of North America (CANA) HILLENBRAND, INC.

13 We Have Delivered Revenue Growth BATESVILLE REVENUE ($ IN MILLIONS) $700 $600 $500 $400 $300 $200 $541 $602 $617 $613 $620 $628 $640 $659 $675 $667 $ TOTAL U.S. BURIALS (IN MILLIONS) $ $0 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 - Batesville Revenue Total U.S. Burials HILLENBRAND, INC.

14 and Maintained Healthy Margins GROSS MARGINS* % OF REVENUE 45% 36.0% 36.7% 38.8% 40.6% 42.5% 42.0% 40.4% 41.9% 41.8% 41.4% 30% 15% 0% '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 * Includes distribution costs HILLENBRAND, INC.

15 We Command a Premium as the Industry s Most Respected Brand THE PROMISE» Every family deserves a Batesville Unparalleled commitment to funeral homes Superior products Exceptional service Leader in innovation Highly valued business partner THE RESULT» The world s largest casket manufacturer Iconic brand with 100+ years of history Industry leader: volume, revenue, margin share Superior mix of products sold Brand of choice for funeral directors families HILLENBRAND, INC.

16 We Offer the Broadest Range of Choices so Funeral Homes Can Serve the Broadest Range of Families Steel Stainless Copper Bronze V A L U E R A N G E HILLENBRAND, INC.

17 Our Services Build Loyalty by Helping Customers Better Manage Their Funeral Home Businesses CUSTOMER VISIT & EDUCATION PROGRAMS MERCHANDISING & BUSINESS PRACTICE CONSULTING SELECTION ROOM SYSTEMS TECHNOLOGY SOLUTIONS: WEB DESIGN & HOSTING / KIOSKS HILLENBRAND, INC.

18 We Have Succeeded in a Flat Market and Are Poised to Respond to Increases in Demand LIVE BIRTHS (MILLIONS) 4000 ACTUAL CREMATIONS PROJECTED CREMATIONS Future increase in deaths Driver of death trough U.S. CREMATIONS (000s) Steady 1.1% annual increase as a percentage of total deaths Assumed 60 65% saturation point in year Deaths have remained flat the past decade, but at some point they will increase as baby boomers age Slow and steady increases in cremations have reduced burials in the flat market When deaths increase, we have the ability to respond to potential increases in casket demand without adding brick and mortar HILLENBRAND, INC.

19 By Investing Prudently in Our Core Business, We ll Continue to Drive Future Revenue and Earnings Growth TOP-LINE GROWTH»» Focused sales coverage that leverages strong customer relationships and premium brand Targeted investments to drive innovative product development Merchandising programs increase value on every casket sale Growth in NorthStar and Options channels MARGIN IMPROVEMENT Operational excellence Lean manufacturing Continuous improvement in all business processes HILLENBRAND, INC.

20 Merchandising Enables Funeral Directors to Optimize the Value of Every Funeral MERCHANDISING LEADS TO SUCCESS TRIPLE WIN»» Consumers Increased satisfaction Customers Increased Revenue & Profit Batesville Increased Revenue & Profit HILLENBRAND, INC.

21 New Product Development Targets Revenue Growth through Innovation 2009 focus primarily on product lines above our average selling price with proprietary features New products launched in the past 12 months include: New finishes and hardware in 16 gauge and 18 gauge steel Extension and innovation of proprietary features through product lines New Sycamore hardwood casket HILLENBRAND, INC.

22 NorthStar Private-Label Caskets Gaining Acceptance in the Distributor Channel NORTHSTAR PRODUCT LINE COMPETITIVE LANDSCAPE»» VERTICALLY INTEGRATED A completely separate business with no proprietary Batesville features, but product line carries our reputation for: Quality products Timely delivery Pleased with our progress Repeatable, predictable business Great potential in this channel Competes effectively against low price entrants Batesville, Matthews, Aurora Manufacturing Manufacturers Distribution Distributors Sales & Marketing NON - VERTICALLY INTEGRATED Distributors, Importers Sales & Marketing HILLENBRAND, INC.

23 Sales Force Effectiveness Focuses on Our Largest Opportunities for Incremental Growth Key Accounts Build on 2008 success in converting large accounts Focus our best sales teams on the largest opportunities Regional Consolidators Emerging customer segment BCC product and service offering meets the needs of these large multi-site firms with centralized back-office operations Sales Coverage Expansion Adding sales representatives in underserved geographies Increase frequency of calls and funeral homes covered HILLENBRAND, INC.

24 Dedicated Options Team Reinforces Our Leadership Position in the Cremation Product Industry Growing segment with attractive margins Estimated market of $200-$300M Research led to new product and service categories Innovative cremation arrangement process to educate client families New product categories New lines of urns, keepsakes and jewelry Opportunity to significantly improve average sale HILLENBRAND, INC.

25 Our Core Business Remains Strong STRONG CORE BUSINESS»»» Strong balance sheet, steady profitable growth and reliable, robust cash flow Iconic brand that is a clear industry leader HISTORY & CULTURE OF EXECUTION Proven, results-oriented management teams with operational, public company and acquisition experience Strong core competencies in continuous improvement and lean supply chain Long track record of increasing revenues and carefully managing expenses STRATEGY FOCUSED ON INCREASING SHAREHOLDER VALUE Accelerated growth through prudent acquisitions Meaningful return of cash to shareholders HILLENBRAND, INC.

26 Ken Camp President and Chief Executive Officer HILLENBRAND, INC.

27 Experienced Leadership, Strong Core Competencies and Culture of Execution Provide a Competitive Advantage HILLENBRAND, INC.

28 Strong Leadership Teams Have Operational, Public Company and Acquisition Experience to Drive Growth Batesville executive team has proven operational expertise Collectively have more than 90 years of operating experience and more than 50 years delivering solid results at BCC Relentless focus on operational excellence through continuous improvement Corporate leadership team has strong mix of experience Deep acquisition and integration skills Collectively have more than 65 years of experience with greater than 100 deals exceeding $7 billion Robust business development and continuous improvement skills to ensure growth success HILLENBRAND, INC.

29 Batesville Has Developed Enduring Core Competencies CI / Lean Manufacturing Low-cost Flexible Innovative Safety-conscious Capabilities nationally recognized beyond the death care industry Supply Chain Optimization Efficient Dependable Fast Optimizes finished good inventory Favorably benchmarked against FedEx, UPS Culture of Execution Successful price realization Highly effective merchandising History of successful acquisition integration Strong track record of increasing revenue HILLENBRAND, INC.

30 World-Class Lean Manufacturing with Relentless Focus on Continuous Improvement World-class manufacturing modeled on Toyota lean manufacturing system Industry s only high-velocity mixed model, pull production, one-piece flow system Experienced and empowered workforce Award-winning manufacturing operations IndustryWeek & AME Continuous improvement a way of life. Motto: Creativity before capital HILLENBRAND, INC.

31 Drives Cost Reductions Year after Year CONTINUOUS IMPROVEMENT COMPETENCY» Over the last 6 years, our real labor costs have declined 6.8% annually BATESVILLE OPERATIONS CONVERSION COST PER UNIT Gross dollars deflated by producer price index-finished goods Our ability to deliver results through continuous improvement is a competitive advantage for us '02 '03 '04 '05 '06 '07 ' HILLENBRAND, INC.

32 Our High-Velocity Supply Chain Delivers World-Class Service to Our Customers FACTORY 5. Q-cards provide continuous feedback 1. Make and ship today what was sold yesterday FUNERAL HOME 4. Deliver from CSC to funeral home (Often 2X per day, 99.2% on time) INVENTORY CONTROL CUSTOMER SERVICE CENTER 3. Daily order summary drives next day s production 2. Pull tonight from RDC what was sold today RAPID DEPLOYMENT CENTER HILLENBRAND, INC.

33 We Have Generated Solid Financial Results in a Declining Casket Market 1.8 U.S. CASKET MARKET $700 REVENUE 50% GROSS MARGIN IN MILLIONS $ IN MILLIONS $600 $500 $400 $300 $200 $100 40% 30% 20% 10% 0.0 '05 '06 '07 '08E $0 '05 '06 '07 '08 0% '05 '06 '07 '08 30% 25% 20% 15% 10% 5% OPERATING MARGIN $ IN MILLIONS $140 $105 $70 $35 CASH FLOW * ** RETURN ON NET ASSETS*** 70% 60% 50% 40% 30% 20% 10% 0% '05 '06 '07 '08 $0 '05 '06 '07 '08 0% '05 '06 '07 '08 * $28 million, after tax pension funding ***RONA on Batesville Casket only ** $13 million, after tax separation costs HILLENBRAND, INC.

34 The Hillenbrand Strategy Focuses on Increasing Shareholder Value HILLENBRAND, INC.

35 Capital Deployment Strategy Balances Current Returns to Capital Deployment Strategy Balances Current Shareholders with Future Growth Include 05 pension numbers Returns and 08 separation to Shareholders cost with Future Growth CASH FLOW FROM OPERATIONS CAPITAL DEPLOYMENT»» $140 $105 * ** ~40% dividends ~40% ongoing business development, acquisitions, share repurchase & debt repayment $ IN MILLIONS $70 $35 $0 '05 '06 '07 '08 ~20% working capital & capex Post-spin cash available for our own investment * $28 million, after tax pension funding ** $13 million, after tax separation costs HILLENBRAND, INC.

36 Our Acquisition Strategy Leverages Existing Strengths to Drive Growth OBJECTIVE»»» Successfully complete acquisitions that: Leverage our existing core competencies Increase shareholder value Reduce reliance on number of burials CORE PRINCIPLES We will be a disciplined buyer Won t bet the farm Focus on our strengths Stay on sidelines if prudent KEY CRITERIA Benefit from our core competencies Compatible cultures Rapidly accretive HILLENBRAND, INC.

37 Our Strategy Focuses on Opportunities Within and Beyond Death Care ACQUISITION STRATEGY BALANCES SHORT-TERM RISK WITH FUTURE GROWTH POTENTIAL CORE ADJACENT OUTSIDE Additional tuck-ins to provide high returns, but limited opportunities and little potential for revenue growth Adjacent death care acquisitions provide somewhat less near-term risk but lack industry growth potential Diversification outside death care provides opportunity to leverage core competencies in a growth industry REVENUE GROWTH INVESTMENT $ Diversification is required to move needle on revenue growth HILLENBRAND, INC.

38 We Will Leverage Our Successful History of Acquiring and Integrating Casket Distributors SUCCESSFUL TRACK RECORD»»» 6 selective acquisitions over the past 15 years Generally less than $10m in size ATTRACTIVE RETURNS Ability to integrate with minimal fixed cost investment resulting in attractive returns (IRRs in excess of 20% for each acquisition) DISCIPLINED INTEGRATION PROCESS KEY TO SUCCESS Dedicated acquisition and integration teams Focus on customer retention Improve mix of products sold Deliver Efficiencies by leveraging current infrastructure HILLENBRAND, INC.

39 Our Acquisition Timeline Is Dependent on Finding the Right Opportunities Pool of Industries and Companies (Numerous Industries) Attractive Industries Attractive Targets Search process has just begun Develop target list in early calendar 2009 Develop and work the pipeline We will not compromise our core principles for speed Growing faster than our core Capable of producing above-average profitability Low to medium technology Manufacturing and/or assembly Business-to-business Leverage our core competencies Primarily domestic Strong brand Effective sales and marketing Less than 20% of our revenue HILLENBRAND, INC.

40 Over the Next Three Years, We Intend to Double Our Revenue Growth Rate Deliver 2 to 3 percent revenue growth in our core Complete $100-$200 million in acquisitions over three years Total Growth 5-8% Revenue CAGR Acquisition Range Historical Base Business + 3-5% Revenue CAGR 2-3% Revenue CAGR HILLENBRAND, INC.

41 Relentless Focus on Achieving Results HILLENBRAND, INC.

42 2008 Results Exceeded Guidance Mid-point FISCAL YEAR ENDING SEPTEMBER 30 $ IN MILLIONS (EXCEPT EPS) 2008 GUIDANCE 2008 ACTUAL 2007 ACTUAL Net Revenues % Y/Y Growth $ $ % $667 (1.2%) Gross Profit % of Revenues % % Operating Expenses % of Revenue % % Operating Income Net Income EPS $ $1.56 $1.49 $1.59 EPS Excl Non-recurring Items* $ $1.79 $1.73 $1.74 * See appendix for reconciliation to GAAP HILLENBRAND, INC.

43 Consistently Strong Balance Sheet FISCAL YEAR ENDING SEPTEMBER 30 $ IN MILLIONS ASSETS Current Assets $182 $170 Other Assets Total Assets $545 $ Cash: $15MM -- Auction Rate Notes: $51MM Forethought Note: $130MM LIABILITIES Current Liabilities $186 $76 -- Revolver Borrowing: $100MM Other Long-term Liabilities Total Liabilities $257 $136 SHAREHOLDERS EQUITY Total Shareholders Equity $288 $181 Total Liabilities & Shareholders Equity $545 $ HILLENBRAND, INC.

44 Strong and Consistent Operating Cash Flow FISCAL YEAR ENDING SEPTEMBER 30 $ IN MILLIONS OPERATING ACTIVITIES Net Income $93 $100 Depreciation & Amortization Change in Working Capital (16) 8 Other, Net 4 0 NET CASH FLOW FROM OPERATING ACTIVITIES $102 $127 Capital Expenditures & Purchase of Intangibles $(10) $(16) Net Activity with Parent (165) (104) Net Revolver Activity Stock Repurchase (6) 0 Dividends (23) 0 Other 5 (3) NET CASH CHANGE $3 $4 FREE CASH FLOW* $92 $111 * Free cash flow is defined as operating cash flow less capital expenditures HILLENBRAND, INC.

45 2009 Guidance FISCAL YEAR ENDING SEPTEMBER RANGE 2008 $ IN MILLIONS (EXCEPT PER SHARE) LOW HIGH Net Revenues Income before Taxes Tax Rate 36.0% 35.0% 39.2% Net Income Diluted Net Income per Share Excluding Non-recurring Charges (Anti-Trust Expenses*) Net Income Diluted Net Income per Share * Anti-trust expenses estimated to be $18.5MM in 2009; see appendix for reconciliation to GAAP HILLENBRAND, INC.

46 We Are Committed to Returning a Meaningful Amount of Strong Cash Flows to Our Shareholders Dividend Current 46% payout ratio Plan to pay meaningful dividend going forward Share Repurchase Program Announced $100 million share repurchase program in July 2008 Repurchases totaled $6.25 million for fiscal 2008 Future repurchases will be based on cash availability, market conditions and strategic opportunities HILLENBRAND, INC.

47 Wrap-Up HILLENBRAND, INC.

48 We Have What it Takes to Successfully Execute Our Strategy and Increase Shareholder Value STRONG CORE BUSINESS»»» Strong balance sheet, steady profitable growth and reliable, robust cash flow Iconic brand that is a clear industry leader HISTORY & CULTURE OF EXECUTION Proven, results-oriented management teams with operational, public company and acquisition experience Strong core competencies in continuous improvement and lean supply chain Long track record of increasing revenues and carefully managing expenses STRATEGY FOCUSED ON INCREASING SHAREHOLDER VALUE Accelerated growth through prudent acquisitions Meaningful return of cash to shareholders HILLENBRAND, INC.

49 Appendix HILLENBRAND, INC.

50 Reconciliation to GAAP 12 MONTHS ENDED SEPTEMBER GUIDANCE MIDPOINT PRE-TAX INCOME TAXES POST- TAX PRE-TAX INCOME TAXES POST-TAX PRE-TAX INCOME TAXES POST-TAX GAAP Fully Diluted EPS $2.51 $0.92 $1.59 $2.45 $0.96 $1.49 $2.48 $0.88 $1.60 CERTAIN NON- OPERATING COSTS: Antitrust Litigation Separation ADJUSTED EPS $2.72 $0.98 $1.74 $2.75 $1.02 $1.73 $2.78 $0.99 $ HILLENBRAND, INC.

51 Strong Batesville Leadership Team Possesses Deep Operational Experience NAME YEARS EXPERIENCE PREVIOUS EXPERIENCE Joe Raver Chief Operating Officer Ken Urbanski Vice President, Finance Diane Bohman Vice President, Logistics Mike DiBease Vice President, Marketing Mark English Vice President, Global Sales Doug Kunkel Vice President, Global Supply Chain 14 yrs Batesville Casket & Hillenbrand Industries 23 yrs in finance, accounting & auditing 11 yrs Batesville Casket & Hillenbrand Industries 30 yrs Batesville Casket 19 yrs Batesville Casket & Hillenbrand Industries 15 yrs Batesville Casket & Hillenbrand Industries Vice President and General Manager, Respiratory Care Division, Hill-Rom Vice President, Strategy and Administration, Hill-Rom Vice President, Logistics, Batesville Casket Vice President, Strategy, Batesville Casket Director, Strategy, Hillenbrand Industries General Manager, Applied Retail Systems, Batesville Casket Director, Merchandising, Batesville Casket Vice President, Business Unit Chief Financial Officer, Chemtura Corporation Vice President and Controller, Automotive Finishes, Sherwin-Williams Company Vice President, Internal Audit and Loss Prevention, Sherwin-Williams Company Vice President and Controller, Transportation Service Division, Sherwin-Williams Company Vice President, Chief Financial Officer, Batesville Casket Vice President, Strategy & Planning, Batesville Casket Executive Director, Commercial Finance, Hill-Rom Director, Financial Planning, Hill-Rom Vice President, Sales, Batesville Casket Vice President, Strategic Accounts, Batesville Casket Divisional Vice President, Sales, Batesville Casket Vice President, Sales, East Division, Batesville Casket Vice President, Strategy & Planning, Batesville Casket Executive Director, Field Service Operations, Hill-Rom Executive Director, Continuous Improvement, Field Services, Hill-Rom Vice President, Operations, Batesville Casket Vice President, Chief Financial Officer, Batesville Casket Vice President & Controller, Hill-Rom Director of International & Financial Planning, Hill-Rom HILLENBRAND, INC.

52 Corporate Team Provides Strong Public Company Experience NAME YEARS EXPERIENCE PREVIOUS EXPERIENCE Ken Camp President & CEO Cindy Lucchese Sr. VP & CFO John Zerkle Sr. VP, Gen. Counsel & Secretary Doug Wilson Sr. VP, Human Resources Hinesh Patel VP, Strategy & Business Development Jan Santerre VP, Continuous Improvement 27 yrs Batesville Casket & Hillenbrand Industries 20+ yrs of public company, executive & financial management 4 yrs Batesville Casket; 20+ yrs private law practice 28 yrs in human resources, strategy & integration 15 yrs in strategy, business development & operations 25 yrs in operations, engineering and finance President & Chief Executive Officer, Batesville Casket, & Senior Vice President, Hillenbrand Industries Vice President, Administration, Hillenbrand Industries Vice President & General Manager, Operations, Batesville Casket Vice President, Sales & Service, Batesville Casket Vice President, Marketing, Batesville Casket Vice President, Strategic Planning, Batesville Casket Senior Vice President & Chief Financial Officer, Thoratec Corporation Vice President & Treasurer; Vice President & Chief Accounting Officer; Vice President, Finance, Sales Division, Guidant Corporation Various financial management roles, Eli Lilly and Company Vice President & General Counsel, Batesville Casket Vice President & General Counsel, Forethought Financial Services Senior Partner, Leagre Chandler & Millard, LLP Vice President, Worldwide Merger Integration, Boston Scientific Corporation Vice President, Human Resources & Chief People Officer, Guidant Corporation Vice President, Global Human Resources Services, Guidant Corporation President, Ronald Blue & Company Executive Director, Human Resources (multiple divisions), Eli Lilly and Company Director, Strategy and Business Development, Specialty Materials Group, Honeywell Director and Strategist, Milliken & Company Director of New Product Introduction and Strategic Planning, Caspian Networks Product and Strategy Manager, Eaton Corporation Strategy and Management Operations Consultant, Arthur D. Little Vice President, Operations, Hydraulics Group, Pumps & Motors, Parker Hannifin Vice President, Operations, Hydraulics Group, Valves & Actuators, Parker Hannifin Vice President, Lean Enterprise & Quality, Corporate, Parker Hannifin Group Lean Manager, Parker Hannifin Vice President, Customer Relations, Ohio Aerospace Institute HILLENBRAND, INC.