Federal Signal Corporation Appoints New Director

Rhea-AI Summary

The Board of Directors of Federal Signal Corporation (NYSE: FSS) has appointed Shashank Patel as a new board member, effective October 25, 2021. Mr. Patel, previously the CFO of Watts Water Technologies, brings extensive experience from his 21 years at Xylem Inc. and ITT Corporation, focusing on finance, operations, and engineering. His appointment is expected to provide valuable insights to Federal Signal's board, enhancing governance and strategic direction within the company, which specializes in environmental and safety solutions.

Positive

• Appointment of Shashank Patel expected to strengthen board expertise.
• Patel's experience as CFO in global organizations may enhance strategic insights.

Negative

• Potential concerns about continuity in company leadership dynamics.

OAK BROOK, Ill., Oct. 26, 2021 /PRNewswire/ -- The Board of Directors of Federal Signal Corporation (NYSE: FSS), a leader in environmental and safety solutions, today announced the appointment of Shashank Patel to the company's board of directors, effective October 25, 2021. Since July 2018, Mr. Patel has served as the Chief Financial Officer ("CFO") of Watts Water Technologies, Inc. ("Watts"), a global manufacturer headquartered in the US that provides one of the broadest plumbing, heating, and water quality product lines in the world.

"We are delighted to announce Shashank's appointment to our board of directors," said Dennis J. Martin, Chairman of the board of Federal Signal. "Shashank's significant experience as a senior finance leader in global industrial organizations, most recently as the CFO of a market-leading public company, positions him to provide immediate, valued insight to our board."   

Prior to joining Watts, Mr. Patel spent a combined 21 years globally at Xylem Inc. and ITT Corporation, holding several leadership positions of increased responsibilities in finance, operations and engineering. Mr. Patel graduated from the University of London with a Bachelor of Science in chemical engineering and received an MBA from the Peter Drucker School of Management at Claremont Graduate University in California.

About Federal Signal

Federal Signal Corporation (NYSE: FSS) builds and delivers equipment of unmatched quality that moves material, cleans infrastructure, and protects the communities where we work and live. Founded in 1901, Federal Signal is a leading global designer, manufacturer and supplier of products and total solutions that serve municipal, governmental, industrial and commercial customers. Headquartered in Oak Brook, Ill., with manufacturing facilities worldwide, the Company operates two groups: Environmental Solutions and Safety and Security Systems. For more information on Federal Signal, visit: www.federalsignal.com.

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SOURCE Federal Signal Corporation

FAQ

Who is the new director appointed to Federal Signal on October 25, 2021?

Shashank Patel was appointed as a new board member of Federal Signal Corporation.

What experience does Shashank Patel bring to Federal Signal Corporation?

Shashank Patel has significant experience as CFO at Watts Water Technologies and over 21 years in leadership roles at Xylem Inc. and ITT Corporation.

What company does Federal Signal Corporation (FSS) operate in?

Federal Signal Corporation specializes in environmental and safety solutions, serving municipal, governmental, industrial, and commercial customers.

Why is the appointment of Shashank Patel significant for Federal Signal Corporation?

Patel's background in finance and operations is expected to provide valuable insights and strengthen the company's board.