Who is Jay L. Henderson and what is his background?

Jay L. Henderson is a newly appointed independent director to ITW's Board. He retired in June 2016 as Vice Chairman, Client Service of PricewaterhouseCoopers LLP (PwC), where he previously held various leadership positions including Greater Chicago Market Managing Partner and Cleveland Office Managing Partner.

What committees will Mr. Henderson serve on?

Mr. Henderson has been appointed to two key board committees: the Audit Committee and the Corporate Governance & Nominating Committee.

How will Mr. Henderson be compensated?

Mr. Henderson will participate in the standard compensation arrangements for non-employee directors as outlined in ITW's 2016 proxy statement.

Does Mr. Henderson have other board experience?

Yes, Mr. Henderson is also a director of Northern Trust Corporation and has been nominated for election as a director of The J.M. Smucker Company.

ITW 8-K: Leadership Changes

Summary

Illinois Tool Works Inc. (ITW) has announced a board update, appointing Jay L. Henderson as a new director, effective August 4, 2016. Mr. Henderson, a retired Vice Chairman from PricewaterhouseCoopers LLP (PwC), brings extensive experience in client service and market leadership, having held senior partner roles at PwC for many years. His appointment is expected to be a valuable addition to ITW's board, given his financial and operational background.

Key Highlights

1Jay L. Henderson appointed as a new independent director to the Board.
2Mr. Henderson will serve until the May 2017 Annual Meeting.
3He is a former Vice Chairman, Client Service of PricewaterhouseCoopers LLP (PwC).
4Mr. Henderson has been appointed to the Audit Committee and the Corporate Governance & Nominating Committee.
5His appointment is effective August 4, 2016.
6Mr. Henderson will receive standard non-employee director compensation.

ILLINOIS TOOL WORKS INC 8-K Report, Executive Changes (Aug 4, 2016)

Summary

Key Highlights

Frequently Asked Questions