Michael F.
Johnston appointed Lead Independent Director
DOWNERS
GROVE, Ill., Feb. 9, 2024
/PRNewswire/ -- Dover (NYSE: DOV) today announced that its Board of
Directors has appointed President and Chief Executive Officer
Richard J. Tobin to the additional
role of Chairman of the Board. In addition, the independent
directors of the Board have appointed the current Chairman,
Michael F. Johnston, to the role of
lead independent director. Both appointments are effective
February 10, 2024. Mr. Tobin has
served as a director since 2016 and as President and Chief
Executive Officer since 2018. Mr. Johnston has served as Board
Chairman since 2016 and as a director since 2013.
Mr. Johnston said, "The Board's appointment of Rich as Chairman
reflects our conviction in Dover's strength and strategic
direction. Rich's appointment as Chairman will further support
effective decision-making and execution of corporate strategy. As a
Board, we look forward to continuing to work with Rich in his new
role to continue delivering long-term value for our
shareholders."
Mr. Tobin said, "I am honored to be appointed to serve as
Dover's next Chairman and want to express my gratitude to the Board
for its support and to Mike for his many contributions as Chairman.
I thank him for his leadership and look forward to continuing to
work with him as Lead Independent Director."
In connection with these appointments, the Board amended the
Company's Corporate Governance Guidelines to require a Lead
Independent Director when the Chairman is not independent and to
define the duties of the Lead Independent Director.
About Dover:
Dover is a diversified global manufacturer and solutions
provider with annual revenue of over $8
billion. We deliver innovative equipment and components,
consumable supplies, aftermarket parts, software and digital
solutions, and support services through five operating segments:
Engineered Products, Clean Energy & Fueling, Imaging &
Identification, Pumps & Process Solutions, and Climate &
Sustainability Technologies. Dover combines global scale with
operational agility to lead the markets we serve. Recognized for
our entrepreneurial approach for over 65 years, our team of over
25,000 employees takes an ownership mindset, collaborating with
customers to redefine what's possible. Headquartered in
Downers Grove, Illinois, Dover
trades on the New York Stock Exchange under "DOV." Additional
information is available at dovercorporation.com.
Forward-Looking Statements:
This press release contains "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including statements related to the Company's
expectations regarding the performance of its business and its
financial results. All statements in this document other than
statements of historical fact are statements that are, or could be
deemed, "forward-looking" statements. Forward-looking statements
are subject to numerous important risks, uncertainties,
assumptions, and other factors, some of which are beyond the
Company's control. Factors that could cause actual results to
differ materially from current expectations include, among other
things, general economic conditions and conditions in the
particular markets in which we operate, changes in customer demand
and capital spending, competitive factors and pricing pressures,
our ability to develop and launch new products in a cost-effective
manner, and our ability to realize synergies from newly acquired
businesses. For details on the risks and uncertainties that could
cause our results to differ materially from the forward-looking
statements that may be contained herein, we refer you to the
documents we file with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the year ended
December 31, 2023, and any
subsequently filed Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K. These documents are available from the SEC,
and on our website, www.dovercorporation.com. The Company
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Investor
Contact:
|
Media
Contact:
|
Jack Dickens
|
Adrian
Sakowicz
|
Senior Director –
Investor Relations
|
Vice President –
Communications
|
(630) 743-2566
|
(630)
743-5039
|
jdickens@dovercorp.com
|
asakowicz@dovercorp.com
|
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SOURCE Dover