BELOIT, Wis., June 24, 2011 /PRNewswire/ -- Regal Beloit Corporation (NYSE: RBC) today announced that its Chairman, Henry Knueppel, received the Ernst & Young Entrepreneur Of The Year® 2011 Lifetime Achievement Award for the Upper Midwest Region. He was recognized for his more than 30 years of business success, industry transformation and contributions to the community.
Mr. Knueppel has been a key leader and architect of the Regal Beloit Corporation (RBC) success story for over 31 years. He joined Regal Beloit in 1979 as a division general manager when the Company's revenues were $38 million. In 2002, Mr. Knueppel was named the President and Chief Operating Officer of Regal Beloit. In 2005, with total Company revenues of $1.4B, Mr. Knueppel became Chief Executive Officer and was named Chairman of the Board in 2006. By the end of 2011, the Company's revenues will be approaching $3 billion and the company will employ nearly 25,000 people on five continents. During that time, Mr. Knueppel was a principal leader in the completion of 42 successful acquisitions. "I am so pleased for Henry," commented Mark Gliebe, CEO of Regal Beloit. "It is great to see his accomplishments recognized. He has built tremendous momentum for the Company."
According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Mr. Knueppel was selected by an independent panel of judges and the award was presented recently at a gala event in Milwaukee. As a Regional award winner, Mr. Knueppel is now eligible for consideration for the Ernst & Young Entrepreneur Of The Year 2011 National Award. Award winners in several national categories, as well as the overall Ernst & Young Entrepreneur Of The Year National Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 12, 2011.
This year, the Entrepreneur Of The Year Program celebrates its 25th anniversary. The program, which originated in Milwaukee, has expanded to recognize business leaders in more than 140 cities and more than 50 countries throughout the world.
About Regal Beloit Corporation
Regal Beloit Corporation is a leading manufacturer of electric motors, mechanical and electrical motion controls and power generation products serving markets throughout the world. Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing, sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia. Regal Beloit's common stock is a component of the S&P Mid Cap 400 Index and the Russell 2000 Index.
About Ernst & Young Entrepreneur Of The Year®
Ernst & Young Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.
SOURCE Regal Beloit Corporation
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