Summary
Carrier Global Corporation (CARR) announced a key leadership change with the appointment of Patrick Goris as the new Senior Vice President & Chief Financial Officer (CFO), effective November 16, 2020. Mr. Goris brings extensive financial experience from his previous role as CFO at Rockwell Automation, Inc. This transition involves the retirement of the current CFO, Timothy McLevish, who will serve as a Special Advisor until February 2021, ensuring a smooth handover. The company has structured Mr. Goris's compensation to include a competitive base salary, bonus potential, and significant sign-on equity and cash awards, reflecting the importance of this executive appointment and aiming to attract and retain top talent during a pivotal period for the company.
Key Highlights
- 1Patrick Goris appointed as new Senior Vice President & Chief Financial Officer (CFO), effective November 16, 2020.
- 2Current CFO, Timothy McLevish, to retire effective February 15, 2021, and will serve as Special Advisor until then.
- 3Mr. Goris joins Carrier from Rockwell Automation, Inc., where he held the CFO position.
- 4Mr. Goris's compensation package includes a $700,000 base salary.
- 5Annual bonus target of 100% of base salary commencing in 2021.
- 6Significant sign-on awards: $4,000,000 in equity (stock appreciation rights and RSUs) vesting over three years, and a $1,000,000 cash award payable in December 2020.
- 7The press release also included a statement regarding Carrier's 2020 outlook and trends (Exhibit 99.1).