Hillenbrand Annual Meeting Led by New Chairperson, Helen Cornell

Rhea-AI Summary

Hillenbrand (NYSE: HI) held its first annual meeting of shareholders on February 27, 2023, under newly appointed Chairperson Helen Cornell, who succeeded F. Joseph Loughrey. Cornell, who joined the board in 2011, emphasized the company's transformation into a pure-play industrial entity, enhancing its focus on core industries. CEO Kim Ryan noted Cornell's manufacturing expertise as beneficial for shareholders. Hillenbrand provides critical processing equipment to various sectors globally, positioning itself for continued growth.

Positive

• Appointment of Helen Cornell as Chairperson, indicating strong leadership continuity.
• Cornell's extensive manufacturing background and global industrial expertise enhance board effectiveness.
• Focus on core industries may lead to improved operational efficiency and profitability.

Negative

• None.

BATESVILLE, Ind., Feb. 27, 2023 /PRNewswire/ -- Hillenbrand, Inc. (NYSE: HI) today announced the completion of its first annual meeting of shareholders under the leadership of Helen Cornell. As previously disclosed, Ms. Cornell became the Chairperson of the Company's Board on January 10, 2023.  Ms. Cornell had been acting as Vice Chairperson of the Board since February 2022. She succeeded former Chairperson F. Joseph (Joe) Loughrey, who retired in accordance with the Board's retirement policy.

"Helen's strong manufacturing background and global industrial expertise continues to benefit the Board, the company, and our shareholders as Hillenbrand continues to execute its profitable growth strategy," said Kim Ryan, President and CEO of Hillenbrand.

Ms. Cornell has been a member of the Hillenbrand Board since 2011. Beginning in 2018, she served as Chairperson of Hillenbrand's Compensation and Management Development Committee until she became Chairperson of Hillenbrand's Nominating/Corporate Governance Committee in 2022, a role she retains in addition to Chairperson of the Board. She recently retired as the President, Chief Executive Officer, and Chair of privately-owned Owensboro Grain Company. In addition to Hillenbrand, she is a director of the privately-owned food distributor Dot Family Holdings, LLC. Her manufacturing experience includes serving as the Executive Vice President and Chief Financial Officer of Gardner Denver, now Ingersoll Rand, and previously as a director at Alamo Group, Inc.

"I am honored to serve as the Chairperson of the Board," said Ms. Cornell. "Hillenbrand's transformation into a pure-play industrial company allows it to focus on core industries that build upon its industrial processing expertise, and I look forward to continuing the work with my fellow Board members to advance the culture of success and innovation within Hillenbrand."

"It has truly been a privilege to have Joe's dedicated leadership as Board Chair during the past decade. His deep industrial experience and insights have unequivocally helped shape the company into what it is today," said Ms. Ryan.

About Hillenbrand

Hillenbrand (NYSE: HI) is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions to customers in over 100 countries around the world. Our portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. To learn more, visit: www.Hillenbrand.com.  

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SOURCE Hillenbrand, Inc.

FAQ

What significant leadership change occurred at Hillenbrand on February 27, 2023?

Helen Cornell was appointed as the new Chairperson of Hillenbrand, succeeding F. Joseph Loughrey.

What are Helen Cornell's credentials as Chairperson of Hillenbrand?

Helen Cornell has over a decade of experience on the Hillenbrand Board and previously led various committees, demonstrating strong leadership in industrial sectors.

How does Hillenbrand plan to focus its strategy under Helen Cornell?

Hillenbrand aims to concentrate on core industries as part of its transformation into a pure-play industrial company.

What is Hillenbrand's business focus following the leadership change?

Hillenbrand provides mission-critical processing equipment to large markets like durable plastics, food, and recycling.