Fortive Announces Appointment of Eric Branderiz to Its Board of Directors

Rhea-AI Summary

Fortive Corporation (NYSE: FTV) has announced the appointment of Eric Branderiz as a new director, expanding its Board from eight to nine members. His term begins on January 1, 2023. Alan Spoon, Chairman of the Board, highlighted Branderiz’s extensive experience in finance and technology sectors, alongside his background in risk management and corporate governance. Previously, he served as CFO of Enphase Energy and held senior roles at Tesla and SunPower. CEO James A. Lico expressed optimism about Branderiz's contributions to Fortive's growth strategy and shareholder value.

Positive

• Appointment of Eric Branderiz expected to enhance Board expertise in finance and technology.
• Branderiz's prior experience at Enphase Energy and Tesla may bring innovative perspectives.
• Expansion of the Board aims to strengthen governance and risk management.

Negative

• Concerns may arise regarding continuity and experience gaps with the addition of new members.

EVERETT, Wash.--(BUSINESS WIRE)-- Fortive Corporation ("Fortive") (NYSE: FTV) announced today that its Board of Directors (the “Board”) has appointed Eric Branderiz as a director of Fortive with a term commencing on January 1, 2023 and with the size of the Board expanded from eight to nine members effective January 1, 2023.

Alan Spoon, Chairman of the Board of Fortive, said, "We are extremely pleased to welcome Eric to our Board. In addition to his deep knowledge of the technology and energy sectors, Eric brings extensive experience in finance, accounting and financial reporting, mergers & acquisitions, risk management, ESG and corporate governance.”

Mr. Branderiz most recently served as the Executive Vice President and Chief Financial Officer of Enphase Energy, Inc., a renewal energy technology company, from 2018 to 2022. Prior to joining Enphase, Mr. Branderiz served as the Chief Accounting Officer and Corporate Controller of Tesla, Inc., an automotive and renewal energy company, from 2016 to 2018 and in various senior roles, including as the Senior Vice President, Corporate Controller and Chief Accounting Officer, at SunPower Corporation, a solar energy system design and manufacturing company, from 2010 to 2016. Prior to joining SunPower Corporation, Mr. Branderiz served in various senior roles with Knowledge Learning Corporation, Spansion, Inc., and Advanced Micro Devices, Inc. Mr. Branderiz is a Certified Public Accountant in California and received his bachelor’s degree in Business Commerce with an emphasis on Accounting from University of Alberta, Canada.

James A. Lico, CEO and President of Fortive, said, "Eric’s exceptional finance track record, in addition to his perspective on innovative technologies, makes him a terrific addition to our Board. We are excited about his contributions as we continue to execute our strategy, leveraging our enhanced portfolio positioning and the power of FBS to deliver essential technologies for the people who accelerate progress, and differentiated and sustainable results for shareholders for years to come.”

ABOUT FORTIVE

Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. Fortive’s strategic segments - Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions - include well-known brands with leading positions in their markets. The company’s businesses design, develop, service, manufacture, and market professional and engineered products, software, and services, building upon leading brand names, innovative technologies, and significant market positions. Fortive is headquartered in Everett, Washington and employs a team of more than 18,000 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005112/en/

Elena Rosman

Vice President - Investor Relations

Fortive Corporation

6920 Seaway Boulevard

Everett, WA 98203

Telephone: (425) 446-5000

Source: Fortive Corporation

FAQ

What is the significance of Eric Branderiz's appointment to Fortive's Board?

Eric Branderiz's appointment is significant as he brings a wealth of experience in finance and technology, which can enhance the Board's decision-making.

When does Eric Branderiz officially start his role as a director at Fortive?

Eric Branderiz's term as a director at Fortive begins on January 1, 2023.

How many members are on Fortive's Board after Eric Branderiz's appointment?

After Eric Branderiz's appointment, Fortive's Board increases in size from eight to nine members.

What experience does Eric Branderiz bring to Fortive Corporation?

Eric Branderiz brings extensive experience from his roles at Enphase Energy, Tesla, and SunPower, focusing on finance, accounting, and corporate governance.

What are Fortive's expectations from Eric Branderiz's role on the Board?

Fortive expects Eric Branderiz to contribute to its growth strategy and enhance shareholder value through his financial expertise.