SP Plus Corporation Elects Diana Sands to Board of Directors; CEO Marc Baumann Assumes Chairman Role following Karen Garrison’s Retirement

Rhea-AI Summary

SP Plus Corporation (SP) has appointed Diana Sands to its Board of Directors, bringing over 30 years of experience, including her role as Senior VP at Boeing. Sands will also join the Audit Committee. Concurrently, Karen Garrison retired after 17 years, with CEO Marc Baumann stepping in as Chairman. Douglas Waggoner becomes Lead Independent Director. This leadership change aims to leverage Sands' expertise as SP Plus continues to grow in technology-driven mobility solutions across North America.

Positive

• Diana Sands' appointment adds over 30 years of diverse business experience to the Board.
• Sands' background in finance and governance strengthens the company's leadership.

Negative

• Retirement of Karen Garrison may create continuity concerns due to her long tenure.

CHICAGO, May 18, 2021 (GLOBE NEWSWIRE) -- SP Plus Corporation (SP+), (Nasdaq: SP), a leading provider of technology-driven mobility solutions for aviation, commercial, hospitality and institutional clients throughout North America, today announced membership changes to its Board of Directors.

The stockholders of SP+ elected Diana Sands to serve as the newest member of its Board of Directors. Ms. Sands brings more than 30 years of business experience having held senior finance and governance positions across multiple industries. She retired from The Boeing Company in 2020, after nearly two decades, where she most recently served as Senior Vice President of the Office of Internal Governance and Administration. In that role, she oversaw internal audit, ethics & investigations, compliance risk management, security and internal services.

In addition to her appointment to the SP+ Board of Directors where she will also serve on the Company’s Audit Committee, Ms. Sands is an Advisor to New Vista Acquisition Corporation and serves on the Board of Directors for PDC Energy, Inc. She has an MBA from Northwestern’s Kellogg School of Management, and a BBA from the University of Michigan Ross Business School.

Concurrent with Ms. Sands appointment, after 17 years as a board member, Karen Garrison, who has served as Chairman since 2017, retired from the Board of Directors. The Company’s Chief Executive Officer, Marc Baumann, who also serves as a board member, has been appointed Chairman of the Board. Additionally, Douglas Waggoner, who has served as a board member since 2015 and Chair of the Nominating and Corporate Governance Committee since 2019, has been appointed Lead Independent Director. Mr. Waggoner is also the current Chairman and Chief Executive Officer for Echo Global Logistics, Inc. Stockholders re-elected Alice Peterson, Gregory Reid and Wyman Roberts to the Board of Directors.

“Karen’s contributions and valuable insights have greatly influenced SP’s success over the years. It has been my pleasure and privilege to serve on the Board with her,” commented Baumann. “As we enter a new chapter, we are pleased to welcome Diana to our team and look forward to benefiting from her dynamic experience as we continue to grow our business.”

SP+ facilitates the efficient movement of people, vehicles and personal belongings with the goal of enhancing the consumer experience while improving bottom line results for its clients. SP+ provides professional parking management, ground transportation, remote baggage check-in and handling, facility maintenance, security, event logistics, and other technology-driven mobility solutions to aviation, commercial, hospitality, healthcare and government clients across North America. For more information, visit www.spplus.com.

CONTACT:	Jill Nagel,
	Senior Communications Manager
	312-274-2102 | jnagel@spplus.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ef79ca6-c685-4120-8ee2-b5b1e266b89c

FAQ

Who is the new Board member elected by SP Plus on May 18, 2021?

Diana Sands was elected to the Board of Directors of SP Plus on May 18, 2021.

What position did Diana Sands hold before joining SP Plus?

Diana Sands was the Senior Vice President of the Office of Internal Governance and Administration at Boeing.

Who replaced Karen Garrison as Chairman of the Board at SP Plus?

Marc Baumann, the CEO of SP Plus, has been appointed as the new Chairman of the Board.

What is the significance of the leadership changes at SP Plus?

The leadership changes aim to bring fresh perspectives and leverage Diana Sands' extensive experience for the company's growth.

What role will Diana Sands serve on the SP Plus Board?

Diana Sands will also serve on the Audit Committee of the Board at SP Plus.