An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Donaldson Company Announces Appointment of Two New Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Donaldson Company (NYSE: DCI) appointed Rick Olson, CEO of The Toro Company, and Jacinth Smiley, CFO of Hormel Foods, to its board of directors effective January 27, 2022. They will replace retiring members John Wiehoff and Mike Hoffman, who will conclude their service in November 2022 after 18 and 16 years, respectively. Olson brings extensive leadership experience, while Smiley has a strong financial background. This strategic move aims to enhance Donaldson's growth and diversification efforts, according to CEO Tod Carpenter.
Positive
Rick Olson's leadership experience at The Toro Company could strengthen Donaldson's strategic direction.
Jacinth Smiley's financial expertise may enhance the financial governance of Donaldson.
Negative
Departure of experienced board members John Wiehoff and Mike Hoffman raises concerns about continuity in leadership.
MINNEAPOLIS--(BUSINESS WIRE)--
Donaldson Company, Inc. (NYSE: DCI) today announced the appointment of Rick Olson and Jacinth Smiley to its board of directors, effective January 27, 2022. The Company also announced that John Wiehoff and Mike Hoffman will not stand for re-election when their terms end in November at the 2022 Annual Meeting of Stockholders after 18 and 16 years of service, respectively.
Rick Olson, 57, is chairman, president and chief executive officer of The Toro Company, provider of outdoor maintenance and beautification products. Olson was elected chairman of Toro’s board in November 2017, and as president and chief executive officer in November 2016. He joined Toro in 1986 and held various leadership positions prior to his election as chief executive officer. Olson earned a Bachelor of Science in industrial technology from Iowa State University and an MBA from the University of Minnesota – Carlson School of Management. He will also serve on the Corporate Governance Committee and Human Resources Committee of the Donaldson Board.
Jacinth Smiley, 53, is executive vice president and chief financial officer of Hormel Foods, a leading global branded food company. Previously, she was vice president and chief accounting officer at LyondellBasell. Prior to joining LyondellBasell, Smiley spent twenty years with General Electric (GE) in various finance roles across multiple industries, most recently as chief financial officer North America for GE Oil and Gas. She graduated from the University of Connecticut with a Bachelor of Science degree in Accounting and is a Certified Public Accountant. She will also serve on the Audit Committee of the board.
“On behalf of the board, I am pleased to welcome Rick and Jacinth to our team. Rick’s extensive knowledge and success in leading the Toro team will add tremendous value to Donaldson as we continue to profitably grow and strategically diversify. Jacinth has decades of demonstrated global financial leadership experience and her industry expertise will allow her to provide an important perspective to the Company,” said Tod Carpenter, chairman, president, and chief executive officer of Donaldson. “I would also like to extend my sincere gratitude to John Wiehoff and Mike Hoffman for their dedication and service on our board.”
About Donaldson Company, Inc.
Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OEM brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.
