PHINIA Elects Meggan M. Walsh to Board of Directors

Rhea-AI Summary

PHINIA (NYSE: PHIN), a leader in premium fuel and electrical systems, has announced the election of Meggan M. Walsh to its Board of Directors, effective July 1, 2024. Ms. Walsh, 60, brings 35 years of investor leadership experience, most recently serving as a Senior Portfolio Manager at Invesco Her tenure at Invesco saw significant asset growth and revenue increases due to her strategic investments and capital allocation skills. Ms. Walsh's expertise includes financial modeling, merger and acquisition analysis, and assessing corporate actions. Rohan Weerasinghe, PHINIA’s Board Chair, highlighted her deep understanding of investor expectations and risk management.

Positive

• Election of a new board member with 35 years of investor leadership experience.
• Meggan M. Walsh contributed to significant asset growth and revenue increases at Invesco
• Expertise in financial modeling, merger and acquisition analysis, and corporate restructuring.

Negative

• None.

AUBURN HILLS, Mich.--(BUSINESS WIRE)-- PHINIA Inc. (“PHINIA” or the “Company”) (NYSE: PHIN), a leader in premium fuel systems, electrical systems, and aftermarket products, today announced that its Board of Directors has elected Meggan M. Walsh to the Board, effective July 1, 2024. Ms. Walsh’s Board committee appointment will be approved by the Board at a later date.

Ms. Walsh, 60, most recently served as a Senior Portfolio Manager and Head, Dividend Value with Invesco Ltd., a global independent investment management firm, and brings 35 years of investor leadership experience to the Board. At Invesco, Ms. Walsh led responsibility for investments and capital allocation across sectors in the Dividend Value team portfolios. Team assets she was directly responsible for grew significantly during her tenure, driving higher revenue growth. As an investor with a long-term focus, Ms. Walsh assessed companies’ strategic positioning, industry fundamentals, regulatory requirements, and total return potential through extensive financial modeling. She also analyzed the effectiveness of corporate actions including restructuring, recapitalizations, and spin-offs. Ms. Walsh’s skillset includes significant capital markets experience and merger and acquisition analysis.

Rohan Weerasinghe, PHINIA’s independent Chair of the Board, commented, “We are pleased to welcome Meggan to the PHINIA Board of Directors. Meggan has extensive leadership experience in both fixed income and equity portfolio management, with a particular focus on Industrials. She brings an investor perspective to the Board and will contribute significantly to the Board’s understanding of investor expectations surrounding capital allocation, disciplined investments, shareholder returns, and oversight of risk management within a complex, global organization.”

About PHINIA

PHINIA is an independent, market-leading, premium solutions and components provider with over 100 years of manufacturing expertise and industry relationships, with a strong brand portfolio that includes DELPHI®, DELCO REMY® and HARTRIDGE®. With over 13,000 employees across 44 locations in 20 countries, PHINIA is headquartered in Auburn Hills, Michigan, USA.

Across commercial vehicles and industrial applications (heavy-duty and medium-duty trucks, off-highway construction, marine, aviation, and agricultural), and light vehicles (passenger cars, trucks, vans and sport-utility), we develop fuel systems, electrical systems and aftermarket solutions designed to keep combustion engines operating at peak performance, while at the same time investing in advanced technologies to unlock the potential of alternative fuels.

By providing what the market needs today to become more efficient and sustainable, while also developing innovative products and solutions to contribute to a lower carbon mobility, we are the partner of choice for a diverse array of commercial vehicle, industrial, light vehicle and aftermarket customers – powering our shared journey toward a cleaner tomorrow.

(DELCO REMY is a registered trademark of General Motors LLC, licensed to PHINIA Technologies Inc.)

View source version on businesswire.com: https://www.businesswire.com/news/home/20240625187307/en/

IR contact:

Kellen Ferris

Vice President, Investor Relations

investors@phinia.com

+947-262-5256

Media contact:

Kevin Price

Global Brand & Communications Director

media@phinia.com

+44 (0) 7795 463871

Source: PHINIA INC

FAQ

Who was elected to the PHINIA Board of Directors?

Meggan M. Walsh was elected to the PHINIA Board of Directors, effective July 1, 2024.

What is the effective date of Meggan M. Walsh's election to PHINIA's Board?

Meggan M. Walsh will join the PHINIA Board of Directors effective July 1, 2024.

What experience does Meggan M. Walsh bring to PHINIA's Board?

Meggan M. Walsh has 35 years of investor leadership experience, including her role as a Senior Portfolio Manager at Invesco

What specific skills does Meggan M. Walsh offer to PHINIA?

Meggan M. Walsh offers skills in financial modeling, merger and acquisition analysis, and assessing corporate restructuring and spin-offs.

How will Meggan M. Walsh contribute to PHINIA?

Meggan M. Walsh will contribute her investor perspective, expertise in capital allocation, and risk management insights to PHINIA's Board.