Fortive Announces Appointment of Daniel Comas to Its Board of Directors and the Retirement of Steven Rales and Mitchell Rales From the Board
Fortive Corporation (NYSE: FTV) announced the appointment of Daniel L. Comas as a Director. Comas, former Chief Financial Officer of Danaher, is expected to enhance the Board with his finance and strategic expertise. His appointment reflects Fortive's commitment to effective governance. Additionally, Board members Steven M. Rales and Mitchell P. Rales will not seek re-election at the 2021 Annual Meeting. They expressed confidence in Fortive's growth trajectory and leadership. Fortive focuses on essential technologies and aims for continuous improvement through the Fortive Business System.
- Daniel L. Comas brings extensive experience from Danaher, particularly in finance and strategy.
- Board succession planning demonstrates a commitment to strong governance and oversight.
- Comas's direct understanding of the Fortive Business System may enhance operational effectiveness.
- Steven and Mitchell Rales' departure could lead to concerns over continuity in strategic vision.
Fortive Corporation ("Fortive") (NYSE: FTV) announced today that its Board of Directors has appointed Daniel L. Comas as a Director of Fortive.
Alan Spoon, Chairman of the Board of Fortive, said "We are very excited to welcome Dan to the Fortive Board of Directors. Dan brings a wealth of experience to our Board, and during his tenure as Danaher’s Chief Financial Officer he played an instrumental role in the portfolio transition at Danaher. We will benefit from his valuable perspectives on finance, strategy, and capital allocation, among many other areas. Importantly, Dan also has a direct understanding and appreciation for the principles of the Fortive Business System, and the commitment to continuous improvement that lies at the core of our culture. Dan’s appointment reflects our conscientious board succession planning to ensure continuation of our Board’s diligent governance and strategic oversight.”
Mr. Comas served as Executive Vice President of Danaher Corporation from April 2005 through December 2020, including as Chief Financial Officer through December 2018. Mr. Comas joined Danaher in 1991 and served in various roles with responsibilities over corporate development, treasury, finance and risk management. Mr. Comas currently serves as an advisor to Danaher and is an adjunct professor at Georgetown University. Mr. Comas holds a Bachelor’s degree in Economics from Georgetown University and a Master’s degree in Business Administration from Stanford University. Mr. Comas commented, “Having been a part of the original strategy to create Fortive, I am incredibly excited to join the Fortive Board of Directors and look forward to continuing to contribute to the future of the company.”
Fortive also announced that Steven M. Rales and Mitchell P. Rales have informed the Board that they will not seek re-election to the Board at the 2021 Annual Meeting of Shareholders in June 2021 when their current terms will expire.
Steven Rales said, “In the five years since its separation from Danaher, Fortive has made significant progress to transform its portfolio and position the company for long-term success. We are incredibly proud of this progress, as well as the thoughtful manner in which the Fortive Board of Directors, under Alan Spoon’s leadership, has continued to evolve over that period to meet the company’s long-term needs. We will be leaving the Fortive Board in June knowing that Fortive’s strategic direction is in very good hands.”
Mitchell Rales added, “Steve and I remain enormously supportive of Fortive as it charts its future course. We believe that Dan Comas will be an outstanding addition to the Fortive Board, given his long track record of success as a leader at Danaher. Dan will be very helpful in guiding the Fortive team as they pursue the significant growth opportunities ahead of them. Fortive is incredibly well-positioned, and Steve and I look forward to participating in the future success of the company as shareholders in the years ahead.”
Fortive CEO, Jim Lico stated, “I have worked with Steve and Mitch for over 20 years, and they have been strong influences on my career and my development as a leader. As a Director and the CEO of Fortive, I have been incredibly fortunate to benefit from their wisdom and experience over the past five years. While they will be leaving their Board positions in June, their invaluable legacy in terms of the Fortive Business System, our strategy, and our culture will be carried forward in the years ahead. I thank Mitch and Steve for their generosity of time and welcome Dan Comas to the Fortive Board.”
ABOUT FORTIVE
Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. The company holds leading positions in intelligent operating solutions, precision technologies, and advanced healthcare solutions. Fortive is headquartered in Everett, Washington and employs a team of more than 17,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world. With a culture rooted in continuous improvement, the core of our company’s operating model is the Fortive Business System. For more information please visit: www.fortive.com.
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FAQ
Who is Daniel L. Comas and what is his role in Fortive?
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Why are Steven and Mitchell Rales not seeking re-election?
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