Ingersoll Rand Inc’s board of directors has appointed Vicente Reynal as chairman of the company.
Reynal will assume the chairman role in addition to his roles of president and CEO of Ingersoll Rand.
He succeeds Pete Stavros, who retires from the Ingersoll Rand board after serving as chairman since 2013. Stavros is a companion at KKR and is co-head of its non-public equity business within the Americas and co-chair of its Inclusion and Diversity Council.
“I am retiring from the chairman role with absolutely the confidence that Vicente is the proper particular person to lead Ingersoll Rand into the next part of its progress story,” stated Stavros. “His expertise in transformative management and worthwhile development, whereas focusing on employee possession and engagement, might be instrumental to the company’s future success.”
Rich joined the corporate in 2015 as CEO of the Gardner Denver Industrials Segment, and was named president and CEO in 2016. He has served as president and CEO of Ingersoll Rand since March 2020, when he led the merger between Gardner Denver and the Industrials Segment of Ingersoll-Rand plc.
“Coming from a small, rural Puerto Rican town, I had a deep ardour to achieve success and help others along the greatest way,” said Reynal. “With the chairman function, I’m excited to carry ahead the shared philosophy Pete and I even have that broad-based employee possession and being a objective and worth driven organisation are foundational elements of long-term efficiency and shareholder value creation.”
Josh Weisenbeck, a partner in KKR’s personal equity enterprise and chief of its Industrial team, has also retired from the Ingersoll Rand board.
Uncharted (Bill) Donnelly has been appointed as Ingersoll Rand’s lead director. Donnelly, retired govt vice president and chief monetary officer of Mettler-Toledo International Inc, has served on the Ingersoll Rand board since 2017.
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