What is David B. Foster's compensation package?

Mr. Foster will receive an annual base salary of $815,000, a target short-term annual incentive of 100% of his base salary, and equity grants valued at $3.5 million. This includes stock options ($875,000), restricted stock units (RSUs) ($875,000), and performance share units (PSUs) ($1,750,000 target) that vest over three years and are subject to continued employment and, for PSUs, performance criteria.

What is the significance of David B. Foster's prior experience?

Mr. Foster has a deep and extensive history with Eaton, having held various senior finance positions since 1993. His recent consulting work for the company on crucial initiatives like the Mobility segment spin-off provides him with immediate relevant knowledge and strategic insight, making his return to the CFO role a familiar transition.

What are the terms of the Change of Control agreement for the new CFO?

The Change of Control agreement provides that if Mr. Foster experiences a qualifying termination (other than for cause, death, disability, or for good reason) in connection with a change in control, he is entitled to severance benefits. These include a cash payment equal to three times his base salary plus target annual incentive, a prorated target annual incentive, and up to three years of continued health and welfare benefits.

ETN 8-K: Leadership Changes

Q: Who is the new Chief Financial Officer of Eaton Corporation plc?

David B. Foster has been appointed as the new Executive Vice President and Chief Financial Officer of Eaton Corporation plc, effective March 2, 2026.

Summary

Eaton Corporation plc (ETN) has appointed David B. Foster as its new Executive Vice President and Chief Financial Officer (CFO), effective March 2, 2026. Mr. Foster is a seasoned executive with extensive experience within Eaton, having held various senior finance roles from 1993 until his retirement in 2022, and subsequently rejoining the company in consulting capacities. His appointment marks a return to a key leadership position, leveraging his deep institutional knowledge and recent advisory work on significant company initiatives, including the proposed spin-off of the Mobility segment. This transition coincides with the departure of Olivier Leonetti, the former CFO, who will remain in an advisory role until March 13, 2026. Mr. Foster's compensation package includes a competitive base salary of $815,000, a target annual incentive of 100% of his base salary, and substantial equity awards totaling $3.5 million, comprised of stock options, restricted stock units (RSUs), and performance share units (PSUs) with performance metrics tied to total shareholder return. He will also be subject to standard change of control and indemnification agreements, providing severance benefits in specific termination scenarios.

Key Highlights

1David B. Foster appointed Executive Vice President and Chief Financial Officer, effective March 2, 2026.
2Foster has a long history with Eaton, serving in various finance roles since 1993, with recent consulting experience on strategic projects.
3Annual base salary for Mr. Foster is $815,000, with a target short-term incentive opportunity of 100% of base salary.
4Significant equity grants awarded to Mr. Foster include $875,000 in stock options, $875,000 in RSUs, and $1,750,000 in target PSUs, vesting over three years and tied to performance for PSUs.
5Mr. Foster is eligible for a comprehensive Change of Control agreement, providing up to three times base salary plus target incentive in severance upon qualifying termination.
6Olivier Leonetti, the outgoing CFO, will transition to a senior advisory role until March 13, 2026.

Eaton Corp plc 8-K Report, Executive Changes (Mar 2, 2026)

Summary

Key Highlights

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