Danita Ostling Elected to nVent Board of Directors

Rhea-AI Summary

nVent Electric plc (NYSE:NVT) announced the election of Danita Ostling to its Board of Directors during the 2022 Annual General Meeting. Ostling, a former partner at Ernst & Young, brings extensive experience in accounting, auditing, risk management, and compliance. Her appointment is expected to enhance the board's expertise, as noted by CEO Beth Wozniak. Ostling has held leadership roles in various firms, including Citigroup and the Financial Accounting Standards Board, and currently serves on boards for Circle Internet Financial and Varsity Brands.

Positive

• Danita Ostling's election adds significant expertise in accounting and risk management to the board.
• Her experience with publicly traded clients can provide valuable insights for nVent's operations.

Negative

• Potential concerns regarding continuity and experience gaps during the transition to a new board member.

LONDON--(BUSINESS WIRE)-- nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, announced that Danita Ostling was elected to its Board of Directors at nVent’s 2022 Annual General Meeting of Shareholders.

Ostling is a former partner and senior leader at Ernst & Young LLP (EY), having served in various leadership roles from 1999 until her retirement in 2021. Ostling served a broad spectrum of publicly traded clients with expertise in accounting, auditing, risk, regulatory and securities registrations.

“Danita is an experienced leader whose knowledge of accounting and auditing standards, risk management and compliance will be a great addition to the nVent Board of Directors,” said nVent CEO Beth Wozniak. “Her technical expertise and demonstrated track record of helping businesses will complement and strengthen our nVent Board. I am looking forward to working with Danita.”

In addition to her work at EY, Ms. Ostling also served in leadership roles for Citigroup, Inc. and the Financial Accounting Standards Board. In 2021, Ms. Ostling joined the board of Circle Internet Financial, a global financial technology firm. In 2022, she joined the board of Varsity Brands, a privately held American apparel company.

ABOUT NVENT

nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. Learn more at www.nvent.com.

nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220628005900/en/

Investor Contact

Tony Riter

Vice President, Investor Relations

nVent

763.204.7750

Tony.Riter@nVent.com

Media Contact

Stacey Wempen

Director of External Communications

nVent

763.204.7857

Stacey.Wempen@nVent.com

Source: nVent Electric plc

FAQ

What is the recent management change at nVent Electric plc (NVT)?

Danita Ostling was elected to the Board of Directors at nVent's 2022 Annual General Meeting.

What expertise does Danita Ostling bring to nVent Electric's Board?

Ostling has extensive experience in accounting, auditing, risk management, and compliance.

What roles has Danita Ostling held prior to joining nVent's Board?

She served as a partner at Ernst & Young and held leadership roles at Citigroup and the Financial Accounting Standards Board.

How might Danita Ostling's appointment impact nVent Electric (NVT)?

Her expertise may strengthen the board's oversight and add valuable perspectives to nVent's strategy.