Danaher Announces Passing of Former President & CEO, George M. Sherman

Rhea-AI Summary

Danaher Corporation (NYSE: DHR) announced the passing of former President & CEO George M. Sherman, who led the company from 1990 to 2001. During his tenure, Danaher's sales grew five-fold and market capitalization increased over 20 times, primarily through strategic acquisitions. Sherman transformed Danaher into a focused global corporation and established the Danaher Business System as its operating philosophy. Chairman Steven M. Rales expressed deep condolences and highlighted Sherman's lasting influence on the company.

Positive

• Sherman's leadership resulted in a five-fold increase in company sales.
• Market capitalization grew more than 20 times under Sherman's tenure.
• Sherman transformed Danaher into a globally focused corporation through strategic acquisitions.

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• None.

WASHINGTON, Aug. 20, 2021 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) announced that George M. Sherman, the Company's President & Chief Executive Officer during the years 1990-2001, died earlier this week after an illness.

Steven M. Rales, Danaher Chairman of the Board, commented: "All of us at Danaher are saddened by George's passing. We extend our deepest condolences to his beloved wife, Betsy, and their entire family."

Mr. Rales continued: "George enjoyed an illustrious career at Danaher. His legacy is broad, and he left an indelible imprint across the entire organization, which he led during an extraordinary time of growth and change. During his 11-year tenure, Company sales increased five-fold and market capitalization grew more than 20-times. George led the transformation of Danaher's portfolio, principally through acquisitions, from a mix of fragmented businesses to strategically focused platforms. He was instrumental in establishing Danaher as a global corporation with leading market positions, while also hiring and developing exceptional leaders. Under George's guidance, the Danaher Business System became the cultural cornerstone of Danaher, evolving from a set of lean manufacturing principles to the Company's underlying operating philosophy."

Mr. Rales concluded: "We shall remain grateful for George's influence during his tenure and beyond."

ABOUT DANAHER

Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher's globally diverse team of approximately 69,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life's Potential. For more information, please visit www.danaher.com.  

 

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SOURCE Danaher Corporation

FAQ

What impact did George M. Sherman have on Danaher Corporation?

George M. Sherman's leadership from 1990 to 2001 significantly impacted Danaher, increasing sales five-fold and market capitalization over 20 times.

When did George M. Sherman pass away?

George M. Sherman passed away in the week prior to August 20, 2021.

What was the Danaher Business System?

The Danaher Business System, established during Sherman's tenure, evolved from lean manufacturing principles into the company's underlying operating philosophy.

Who commented on George M. Sherman's passing?

Steven M. Rales, Chairman of the Board at Danaher, commented on George M. Sherman's passing, expressing condolences to his family.

What was the legacy of George M. Sherman at Danaher?

Sherman's legacy includes transforming Danaher into a focused global corporation and developing exceptional leaders within the organization.