The Robert Bosch Tool Corp. last week announced that Terry Horan will succeed Manfred Seitz as president and CEO, effective April 1. Seitz will retire at the end of March 2011 as chairman, president, and CEO of the Robert Bosch Tool Corp. after 34 successful years leading several different divisions of the Bosch Group.
Seitz joined Bosch in 1977, and began his career in the Blaupunkt division. He had increasingly critical roles in various Bosch divisions around the world, spending the past seven years in the United States at Power Tools.
With a long-term focus on sustaining the future, Seitz led Power Tools through the past few years of challenging economic conditions in the construction industry to a strong finish in 2010.
Horan has led the worldwide Rotary Tool business of the Robert Bosch Tool Corp. for the past six years, engineering a successful turnaround for the Dremel brand resulting in double-digit sales increases over the past several years.
A 25-year veteran of the home improvement industry in North America, Horan has a strong sales, marketing and general management background. He has spent 13 years with Bosch Power Tools leading both the SKIL brand during the Emerson Electric–Bosch joint venture period and, more recently, as president of the Rotary Tools business, which includes Dremel and RotoZip.
Mount Prospect, Ill.-based Robert Bosch Tool Corp. is a leading global supplier of technology and services. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in more than 60 countries.