Snap-on Gives Chairmanship to Elliot

Snap-on Incorporated has announced that Dale F. Elliott, Snap-on president and chief executive officer, and a member of its board of directors, has been elected to the additional position of chairman of the board.
Elliott, 47, assumes the role from retiring chairman, Robert A. Cornog. “We thank Bob for his many contributions to Snap-on throughout his years on the board,” reads a statement from the board of directors. “We are pleased to recognize Dale through this election. His leadership, experience and vision will continue to benefit Snap-on in the execution of its strategic growth initiatives.”
Also at the board meeting, the directors declared a second-quarter dividend of 24 cents per share, payable June 10, 2002, to shareholders of record on May 20, 2002. Snap-on has paid consecutive quarterly cash dividends since 1939.