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Allegion Board of Directors Elects Lauren B. Peters as Chair

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Allegion plc (NYSE: ALLE) has announced a significant leadership change. The Board of Directors has elected Lauren B. Peters as its next chair, effective Sept. 11, 2024. Peters, who has served on Allegion's Board since 2021, will succeed Kirk S. Hachigian, who is retiring in June 2025. Peters brings extensive experience as the former executive VP and CFO of Foot Locker, Inc., with a track record of expanding profits and implementing innovative solutions.

The transition also includes Susan L. Main replacing Peters as the Audit and Finance Committee chair. This leadership shuffle aims to leverage Peters' strategic acumen and global business expertise to support Allegion's future growth in the security products and solutions industry.

Allegion plc (NYSE: ALLE) ha annunciato un importante cambiamento nella leadership. Il Consiglio di Amministrazione ha eletto Lauren B. Peters come prossimo presidente, a partire dall'11 settembre 2024. Peters, che fa parte del Consiglio di Allegion dal 2021, succederà a Kirk S. Hachigian, che andrà in pensione a giugno 2025. Peters porta con sé una vasta esperienza come ex VP esecutivo e CFO di Foot Locker, Inc., con un comprovato record di espansione dei profitti e di implementazione di soluzioni innovative.

Il passaggio include anche Susan L. Main che sostituirà Peters come presidente del Comitato Audit e Finanza. Questo rimpasto nella leadership mira a sfruttare l'acume strategico di Peters e la sua esperienza nel business globale per supportare la futura crescita di Allegion nel settore dei prodotti e delle soluzioni per la sicurezza.

Allegion plc (NYSE: ALLE) ha anunciado un cambio significativo en su liderazgo. La Junta Directiva ha elegido a Lauren B. Peters como su próxima presidenta, efectiva a partir del 11 de septiembre de 2024. Peters, quien ha sido miembro de la Junta de Allegion desde 2021, sucederá a Kirk S. Hachigian, quien se jubilará en junio de 2025. Peters aporta una amplia experiencia como ex VP ejecutivo y CFO de Foot Locker, Inc., con un historial de expansión de beneficios e implementación de soluciones innovadoras.

La transición también incluye a Susan L. Main reemplazando a Peters como presidenta del Comité de Auditoría y Finanzas. Este cambio en la dirección tiene como objetivo aprovechar el acumen estratégico de Peters y su experiencia en negocios globales para apoyar el futuro crecimiento de Allegion en la industria de productos y soluciones de seguridad.

Allegion plc (NYSE: ALLE)는 중요한 리더십 변화를 발표했습니다. 이사회는 Lauren B. Peters를 새로운 의장으로 선출하였으며, 이는 2024년 9월 11일부터 효력을 발휘합니다. 2021년부터 Allegion 이사로 활동해온 Peters는 2025년 6월 은퇴하는 Kirk S. Hachigian을 후임하게 됩니다. Peters는 Foot Locker, Inc.의 전무이사 및 CFO로서 폭넓은 경험을 가지고 있으며, 수익을 확장하고 혁신적인 솔루션을 구현한 이력이 있습니다.

이번 전환에서는 Susan L. Main이 Peters를 대신해 감사 및 재무위원회의 의장으로 취임합니다. 이번 리더십 이동은 Allegion의 보안 제품 및 솔루션 산업에서의 미래 성장을 지원하기 위해 Peters의 전략적 통찰력과 글로벌 비즈니스 전문성을 활용하는 것을 목표로 하고 있습니다.

Allegion plc (NYSE: ALLE) a annoncé un changement important dans sa direction. Le Conseil d'Administration a élu Lauren B. Peters comme prochain président, à compter du 11 septembre 2024. Peters, qui siège au Conseil d'Allegion depuis 2021, succédera à Kirk S. Hachigian, qui partira à la retraite en juin 2025. Peters apporte une vaste expérience en tant qu'ancienne VP exécutive et CFO de Foot Locker, Inc., avec un palmarès d'expansion des bénéfices et de mise en œuvre de solutions innovantes.

La transition comprend également Susan L. Main qui remplacera Peters en tant que présidente du Comité d'Audit et de Finance. Ce remaniement dans la direction vise à tirer parti des compétences stratégiques de Peters et de son expertise mondiale pour soutenir la croissance future d'Allegion dans l'industrie des produits et solutions de sécurité.

Allegion plc (NYSE: ALLE) hat eine bedeutende Veränderung in der Führung angekündigt. Der Vorstand hat Lauren B. Peters zur nächsten Vorsitzenden gewählt, die am 11. September 2024 in Kraft tritt. Peters, die seit 2021 im Allegion-Vorstand ist, wird Kirk S. Hachigian nachfolgen, der im Juni 2025 in den Ruhestand geht. Peters bringt umfassende Erfahrung als ehemalige Executive VP und CFO von Foot Locker, Inc. mit, mit nachweislichem Erfolg bei der Gewinnsteigerung und der Implementierung innovativer Lösungen.

Der Wechsel umfasst auch Susan L. Main, die Peters als Vorsitzende des Prüfungs- und Finanzausschusses ablöst. Diese Umstrukturierung der Führung zielt darauf ab, Peters’ strategisches Geschick und globale Geschäftserfahrung zu nutzen, um das zukünftige Wachstum von Allegion in der Sicherheitsprodukt- und Lösungsindustrie zu unterstützen.

Positive
  • Appointment of Lauren B. Peters as Board Chair, bringing extensive financial and strategic expertise
  • Smooth leadership transition planned, with current Chair Kirk S. Hachigian retiring in June 2025
  • Peters' experience in expanding profits and implementing innovative solutions could benefit Allegion's growth
Negative
  • None.

DUBLIN--(BUSINESS WIRE)-- The Board of Directors (Board) of Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has elected Lauren B. Peters as its next chair, effective Sept. 11, 2024. Peters has served as a member of Allegion’s Board since 2021 and will succeed Kirk S. Hachigian, who is retiring from the Board at the end of his term in June 2025.

Peters is former executive vice president and chief financial officer of Foot Locker, Inc., where she built a track record of expanding profits and implementing innovative solutions while also leading major acquisitions, integrations and strategic investments. With deep expertise in positioning global, publicly held companies for growth, Peters currently serves as a board member for La-Z-Boy and Victoria’s Secret, in addition to Allegion.

“Stepping into the chair role is an incredible honor,” Peters said. “Allegion is an innovative industry leader with a team that’s deeply committed to helping create safe and accessible environments around the world. We have a strong board with diverse skillsets that’s excited to support this meaningful work and Allegion’s future growth. I’m proud to be a part of it."

“Lauren’s knowledge of our business and strategic acumen is an asset to Allegion and will make her a highly effective chair,” Allegion President and CEO John H. Stone said. “We’re grateful for her dedication and look forward to continuing our work together.”

“We’re also grateful for Kirk’s leadership. In his 10 years with Allegion, Kirk has served as our first board member, our first lead director and our first independent chair. Thank you, Kirk, for guiding Allegion in our first decade of growth.”

With Peters’ appointment as Board chair, she will also chair the Corporate Governance and Nominating Committee. In addition, Allegion Board Member Susan L. Main replaces Peters as the Audit and Finance Committee chair as of Sept. 11, 2024.

About Allegion

Allegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $3.7 billion in revenue in 2023, and its security products are sold around the world. For more, visit www.allegion.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding our strategy, ESG goals and ability to achieve these goals, the company’s business plans and strategy, and the company’s growth strategy. These forward-looking statements generally are identified by the words “believe,” “aim,” “project,” “expect,” “anticipate,” “project,” “estimate,” “forecast,” “outlook,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. Undue reliance should not be placed on any forward-looking statements, as these statements are based on the company's currently available information and our current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the company’s control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Important factors and other risks that may affect the company's business or that could cause actual results to differ materially are included in filings the company makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and in its other SEC filings. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. The company undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact:

Whitney Moorman – Director, Global Communications

317-810-3241

Whitney.Moorman@allegion.com

Analyst Contacts:

Jobi Coyle – Director, Investor Relations

317-810-3107

Jobi.Coyle@allegion.com

Josh Pokrzywinski – Vice President, Investor Relations

463-210-8595

Joshua.Pokrzywinski@allegion.com

Source: Allegion plc

FAQ

When will Lauren B. Peters become the Chair of Allegion's Board of Directors?

Lauren B. Peters will become the Chair of Allegion's (ALLE) Board of Directors effective September 11, 2024.

Who is Lauren B. Peters replacing as Allegion's Board Chair?

Lauren B. Peters is replacing Kirk S. Hachigian, who is retiring from Allegion's (ALLE) Board at the end of his term in June 2025.

What is Lauren B. Peters' background before joining Allegion's Board?

Lauren B. Peters was the former executive vice president and chief financial officer of Foot Locker, Inc., with experience in expanding profits and implementing innovative solutions.

How long has Lauren B. Peters been on Allegion's Board of Directors?

Lauren B. Peters has served as a member of Allegion's (ALLE) Board of Directors since 2021.

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