Acuity Brands Announces Election of Michael J. Bender to the Board of Directors

Rhea-AI Summary

Acuity Brands, Inc. (NYSE: AYI) has expanded its Board of Directors from 11 to 12 members by electing Michael J. Bender as an Independent Director, effective September 29, 2022. Bender, who has extensive leadership experience across various industries, including retail and healthcare, will serve on the Audit and Governance Committees. His involvement is anticipated to bring valuable insights during a significant transformation phase for the company, according to Chairman Neil M. Ashe.

Positive

• Michael Bender's extensive leadership experience is expected to provide valuable insights during the company's transformation.
• The addition of Bender to the Board may enhance the company's strategic decision-making.

Negative

• Potential concerns regarding Board continuity and experience gaps with the addition of a new member.

Atlanta, Sept. 29, 2022 (GLOBE NEWSWIRE) -- ATLANTA, September 29, 2022 – Acuity Brands, Inc. (NYSE: AYI) (the “Company”) announced today that, effective September 29, 2022, the Board of Directors (the “Board”) approved an increase in the size of the Board from 11 to 12 members and elected Michael J. Bender as an Independent Director. Mr. Bender will serve on the Audit and Governance Committees. He will serve for a term that will expire at the Company’s next annual meeting of stockholders. 

Mr. Bender most recently served as President and Chief Executive Officer of Eyemart Express, LLC, an optical retailer. He is a seasoned executive and leader with extensive experience operating businesses at scale in the retail, integrated healthcare, real estate, e-commerce and global food and beverage industries. Mr. Bender serves on the Board of Directors of Kohl’s Corporation and is a former Board Director at Ryman Hospitality Properties, Inc. (a real-estate investment trust). 

Neil M. Ashe, Chairman, President, and Chief Executive Officer, commented, “We are pleased that Michael has agreed to join our Board. He brings lived and demonstrated domain expertise helping companies adapt while using technology to drive business transformation. We look forward to having his expertise on our Board during this important phase in the growth of our Company.” 

“I am honored to join the Acuity Brands Board of Directors during this exciting phase of the Company’s transformation. I look forward to working with the members of our Board and the seasoned management team to help advance the growth of the Company,” said Michael J. Bender. 

About Acuity Brands 

Acuity Brands, Inc. (NYSE: AYI) is a market-leading industrial technology company. We use technology to solve problems in spaces and light. Through our two business segments, Acuity Brands Lighting and Lighting Controls (“ABL”) and the Intelligent Spaces Group (“ISG”), we design, manufacture, and bring to market products and services that make a valuable difference in people’s lives. We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management systems, and location-aware applications. 
  
Acuity Brands, Inc. achieves customer-focused efficiencies that allow the Company to increase market share and deliver superior returns. The Company looks to aggressively deploy capital to grow the business and to enter attractive new verticals.  

Acuity Brands, Inc. is based in Atlanta, Georgia, with operations across North America, Europe, and Asia. The Company is powered by approximately 13,500 dedicated and talented associates. Visit us at www.acuitybrands.com. 

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Media Contact:  
Candace Steele Flippin  
Chief Communications Officer  
candace@acuitybrands.com 

Investor Contact:  
Charlotte McLaughlin 
Vice President, Investor Relations 
PH: (404) 853-1456  
investorrelations@acuitybrands.com 

Attachment

• Acuity Brands, Inc. Board of Director

FAQ

Who has been appointed to Acuity Brands' Board of Directors?

Michael J. Bender has been appointed as an Independent Director on Acuity Brands' Board.

What committees will Michael J. Bender serve on?

Bender will serve on the Audit and Governance Committees.

When did the Board of Acuity Brands approve the increase in size?

The increase in Board size was approved on September 29, 2022.

What experience does Michael J. Bender bring to Acuity Brands?

Bender has extensive experience in retail, healthcare, real estate, e-commerce, and global food and beverage industries.

What is the potential impact of Bender’s appointment on Acuity Brands?

His expertise may strengthen the Board's strategic direction during a critical transformation phase.