Applied Industrial Technologies Elects New Board Member
Applied Industrial Technologies (NYSE: AIT) has elected Richard J. Simoncic to its Board of Directors. Simoncic, 61, brings extensive experience in global operations, distribution, supply chain management, and manufacturing. He has served in executive leadership roles at Microchip Technology Inc. since 1999, including as Chief Operating Officer.
The appointment comes ahead of the departure of Dan P. Komnenovich in October 2024, in line with the company's retirement guidelines. Following these changes, the Applied Board will maintain nine Directors, with eight being independent, including the Chairman.
Applied Industrial Technologies is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies.
Applied Industrial Technologies (NYSE: AIT) ha eletto Richard J. Simoncic nel suo Consiglio di Amministrazione. Simoncic, 61 anni, porta con sé un'ampia esperienza nelle operazioni globali, nella distribuzione, nella gestione della supply chain e nella produzione. Ricopre ruoli di leadership esecutiva in Microchip Technology Inc. dal 1999, inclusa la carica di Chief Operating Officer.
Questa nomina arriva in vista della partenza di Dan P. Komnenovich nell'ottobre 2024, secondo le linee guida sul pensionamento dell'azienda. A seguito di queste modifiche, il Consiglio di Amministrazione di Applied manterrà nove Direttori, otto dei quali saranno indipendenti, incluso il Presidente.
Applied Industrial Technologies è un fornitore di soluzioni tecniche e distributore di valore aggiunto leader nel settore delle tecnologie di movimento industriale, potenza fluida, controllo del flusso, automazione e forniture di manutenzione correlate.
Applied Industrial Technologies (NYSE: AIT) ha elegido a Richard J. Simoncic para su Junta Directiva. Simoncic, de 61 años, aporta una vasta experiencia en operaciones globales, distribución, gestión de la cadena de suministro y fabricación. Ha ocupado roles de liderazgo ejecutivo en Microchip Technology Inc. desde 1999, incluyendo el puesto de Director de Operaciones.
El nombramiento se produce antes de la salida de Dan P. Komnenovich en octubre de 2024, de acuerdo con las pautas de jubilación de la empresa. Tras estos cambios, la Junta de Applied mantendrá nueve Directores, de los cuales ocho serán independientes, incluida la Presidencia.
Applied Industrial Technologies es un proveedor líder de soluciones técnicas y distribuidor de valor agregado en tecnologías de movimiento industrial, potencia fluida, control de flujo, automatización y suministros de mantenimiento relacionados.
Applied Industrial Technologies (NYSE: AIT)는 Richard J. Simoncic를 이사회에 선출했습니다. 61세의 Simoncic는 글로벌 운영, 유통, 공급망 관리 및 제조 분야에서 광범위한 경험을 가지고 있습니다. 그는 1999년부터 Microchip Technology Inc.에서 최고 운영 책임자를 포함한 임원 리더십 역할을 수행해 왔습니다.
이번 임명은 회사의 은퇴 지침에 따라 2024년 10월에 Dan P. Komnenovich가 떠나기 전 이뤄졌습니다. 이러한 변화에 따라 Applied의 이사회는 9명의 이사를 유지하며 이 중 8명이 독립이며 의장을 포함합니다.
Applied Industrial Technologies는 산업 모션, 유체 동력, 흐름 제어, 자동화 기술 및 관련 유지 보수 용품의 가치 추가 유통업체이자 기술 솔루션 제공업체입니다.
Applied Industrial Technologies (NYSE: AIT) a élu Richard J. Simoncic à son Conseil d'Administration. Simoncic, âgé de 61 ans, apporte une vaste expérience dans les opérations mondiales, la distribution, la gestion de la chaîne d'approvisionnement et la fabrication. Il a occupé des postes de direction chez Microchip Technology Inc. depuis 1999, y compris celui de Directeur des Opérations.
Cette nomination intervient avant le départ de Dan P. Komnenovich en octobre 2024, conformément aux directives de retraite de l'entreprise. À la suite de ces changements, le Conseil d'Administration d'Applied comptera neuf Directeurs, dont huit seront indépendants, y compris le Président.
Applied Industrial Technologies est un distributeur de solutions techniques et un fournisseur de valeur ajoutée leader dans le domaine des technologies de mouvement industriel, de puissance hydraulique, de contrôle des flux, d'automatisation et des fournitures de maintenance connexes.
Applied Industrial Technologies (NYSE: AIT) hat Richard J. Simoncic in seinen Vorstand gewählt. Simoncic, 61 Jahre alt, bringt umfangreiche Erfahrung in den Bereichen globale Betriebsabläufe, Distribution, Supply Chain Management und Fertigung mit. Er hat seit 1999 leitende Führungspositionen bei Microchip Technology Inc. inne, darunter auch die des Chief Operating Officer.
Die Ernennung erfolgt vor dem Ausscheiden von Dan P. Komnenovich im Oktober 2024, gemäß den Rentenrichtlinien des Unternehmens. Nach diesen Änderungen wird der Vorstand von Applied neun Direktoren haben, von denen acht unabhängig sind, einschließlich des Vorsitzenden.
Applied Industrial Technologies ist ein führender Anbieter von wertschöpfenden Lösungen und technischen Lösungen für industrielle Bewegungs-, Fluidkraft-, Durchflusskontroll-, Automatisierungstechnologien sowie verwandte Wartungsprodukte.
- Addition of experienced executive to the Board of Directors
- Maintenance of board independence with 8 out of 9 directors being independent
- Potential for new insights in Engineered Solutions segment and expansion into new vertical markets
- None.
“We are very pleased to welcome Rich to the Applied Board,” said Peter C. Wallace, the Company’s Chairman. “His experience in global operations, distribution, supply chain management, and manufacturing adds significant knowledge and experience to the Board.”
Neil A. Schrimsher, President & Chief Executive Officer, added, “We look forward to leveraging Rich’s perspectives and expertise as we continue to enhance the Company’s growth profile and increase stakeholder value. As a leader for a technology manufacturer – including serving many similar markets as Applied – Rich will provide valuable insight as we continue to expand our Engineered Solutions segment, gain exposure to new vertical markets, and leverage our technical capabilities.”
Simoncic, 61, has served in executive leadership roles at Microchip Technology Inc. since 1999, including as Chief Operating Officer, as well as Executive Vice President, Senior Vice President, and Vice President of its Analog Power and Interface Business. NASDAQ-listed Microchip Technology Inc. is a leading provider of smart, connected, and secure embedded control solutions. Simoncic holds a Bachelor of Science degree in electrical engineering technology from DeVry Institute of Technology.
The appointment of Simoncic comes ahead of the departure of Dan P. Komnenovich in October 2024, pursuant to the Company’s guidelines that provide for retirement after a Director reaches the age of 72. “We thank Dan for his invaluable contributions over the past 12 years,” said Schrimsher. Following this appointment and retirement, the Applied Board will remain at nine Directors, eight of whom are independent, including the Chairman.
About Applied®
Applied Industrial Technologies is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Our leading brands, specialized services, and comprehensive knowledge serve MRO and OEM end users in virtually all industrial markets through our multi-channel capabilities that provide choice, convenience, and expertise. For more information, visit www.applied.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240813429853/en/
Ryan D. Cieslak
Director – Investor Relations & Treasury
216-426-4887 / rcieslak@applied.com
Source: Applied Industrial Technologies, Inc.
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