Summary
Trane Technologies plc (formerly Ingersoll-Rand plc) announced changes to its Board of Directors on June 4, 2015. Two long-serving directors, Mr. Edward E. Hagenlocker and Mr. Theodore E. Martin, retired in accordance with the company's corporate governance guidelines due to age limits. This action is a routine governance matter related to board refreshment.
Key Highlights
- 1Two directors, Edward E. Hagenlocker and Theodore E. Martin, retired from the Board of Directors.
- 2Retirements were in accordance with the company's Corporate Governance Guidelines due to directors reaching the age of 75.
- 3The retirements were effective prior to the Annual General Meeting held on June 4, 2015.
- 4Two new independent directors, Elaine L. Chao and Linda P. Hudson, were elected to the Board.
- 5Elaine L. Chao will serve on the Compensation and Corporate Governance and Nominating Committees.
- 6Linda P. Hudson will serve on the Audit Committee and Finance Committee.
- 7New directors will participate in the existing non-management director compensation program.
Frequently Asked Questions
Mr. Edward E. Hagenlocker and Mr. Theodore E. Martin retired from the Board of Directors in accordance with the company's Corporate Governance Guidelines, which stipulate retirement upon reaching the age of 75 prior to the annual general meeting.
Elaine L. Chao and Linda P. Hudson were elected as new independent directors to the Board of Directors, effective immediately.
Elaine L. Chao will join the Compensation and Corporate Governance and Nominating Committees. Linda P. Hudson will be a member of the Audit Committee and the Finance Committee.
No, Ms. Chao and Ms. Hudson will participate in the non-management director compensation program that was previously described in the company's definitive proxy statement.