INNOVATE Corp. Announces Appointment of Amy Wilkinson to the Board of Directors

Rhea-AI Summary

INNOVATE Corp. (NYSE: VATE) announced the appointment of Amy Wilkinson to its Board of Directors, aiming to enhance shareholder value across its Infrastructure, Life Sciences, and Spectrum segments. Wilkinson, a consultant to Fortune 500 firms and founder of Ingenuity, brings extensive management and global business expertise. Her previous roles include White House Fellow and positions at McKinsey & Company. The Board now consists of five members, with four being independent.

Positive

• Amy Wilkinson's appointment introduces valuable management and consulting expertise.
• Her background with Fortune 500 companies can guide strategic decisions.
• The board now has a majority of independent members, enhancing governance.

Negative

• Concerns about continuity and experience gaps in the Board remain.

NEW YORK, Aug. 02, 2022 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE), today announced the appointment of Amy Wilkinson to fill the remaining vacancy on the INNOVATE Board of Directors.

“Amy brings a unique blend of management expertise and global business and policy experience, and we are confident she will help guide us in our mission to drive shareholder value across our Infrastructure, Life Sciences and Spectrum operating segments,” said Avie Glazer, Chairman of INNOVATE.

“Amy’s leadership and strategy consulting experience advising Fortune 500 companies will be a valuable addition to our Board,” said Wayne Barr, Jr., Chief Executive Officer of INNOVATE. “I look forward to hearing her insights as we continue to drive performance in each of our three businesses.”

Ms. Wilkinson is the founder and CEO of Ingenuity, an entrepreneurship advisory firm for leaders of companies of all sizes, including several Fortune 500 clients. In addition, she is a Lecturer in Management at Stanford Graduate Business School and is the author of the global bestseller “The Creator’s Code: The Six Essential Skills of Extraordinary Entrepreneurs.” She serves as the Chair of the Board at consumer technology company Grover. She was previously a public policy scholar at the Woodrow Wilson International Center for Scholars, and prior to that, she served as White House Fellow and Senior Policy Advisor to the U.S. Trade Representative. She also held leadership roles at McKinsey & Company, J.P. Morgan, and as founder of international export company Alegre. She earned her Bachelor of Arts in Political Science and English and her Master of Arts in Sociology from Stanford University and received her MBA from Stanford University Graduate School of Business.

Following the appointment of Ms. Wilkinson, the INNOVATE Board of Directors consists of five members, four of whom are independent.

Cautionary Statement Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains, and certain oral statements made by our representatives from time to time may contain, "forward-looking statements." Generally, forward-looking statements include information describing actions, events, results, strategies and expectations and are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Such forward-looking statements are based on current expectations and inherently involve certain risks, assumptions and uncertainties. Except as required by law, INNOVATE disclaims any obligation to update any of the forward-looking statements contained in this press release.

About INNOVATE Corp.
INNOVATE Corp., is a portfolio of best-in-class assets in three key areas of the new economy – Infrastructure, Life Sciences and Spectrum. Dedicated to stakeholder capitalism, INNOVATE employs approximately 3,902 people across its subsidiaries. For more information, please visit: www.INNOVATECorp.com.

For INNOVATE:

Media Contact:
Reevemark
Paul Caminiti/Pam Greene/Luc Herbowy
INNOVATE.Team@reevemark.com
(212) 433-4600

Investor Contact:
Solebury Trout
Anthony Rozmus
ir@innovatecorp.com
(212) 235-2691

FAQ

Who is Amy Wilkinson and what is her role at INNOVATE Corp.?

Amy Wilkinson has been appointed to the Board of Directors at INNOVATE Corp., where she will contribute her management and consulting expertise.

What impact will Amy Wilkinson's appointment have on INNOVATE Corp.?

Her diverse experience and insights are expected to help drive performance and shareholder value across INNOVATE's operating segments.

How many members are currently on the INNOVATE Board of Directors?

Following Wilkinson's appointment, the INNOVATE Board consists of five members, four of whom are independent.

What are the key areas of focus for INNOVATE Corp.?

INNOVATE Corp. focuses on Infrastructure, Life Sciences, and Spectrum as its primary business segments.