Date: 2013-08-01

Applied Industrial Technologies Chairman and CEO David Pugh to Retire by October

(April 27, 2011)

A changing of the guard is in the offing at Applied Industrial Technologies (NYSE: AIT).

The distributor of bearings and industrial parts said David L. Pugh, its chairman and CEO, has informed the company's board that he will retire by Applied Industrial's next annual shareholders' meeting, which is slated for October. Mr. Pugh, age 62, also will step down from the board at the same time.

"Dave has been an outstanding leader during his tenure as CEO of Applied Industrial Technologies," said Peter A. Dorsman, the lead non-executive director of Applied's board. "The company has grown steadily, navigated difficult economic conditions, and returned excellent value to shareholders."

Mr. Pugh said in a statement that his decision to retire

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