Allegion, a $2 billion global leader in the security and safety industry
that will be created upon separation from Ingersoll Rand, today named
six additional members of its leadership team who will guide the company
to future growth and success. The leadership appointments underscore
Allegion’s strong commitment to operational excellence, superior
customer service and industry-leading innovation. Allegion is expected
to become a standalone, publicly-traded company prior to year-end, as
previously announced.
The following additional members comprise Allegion’s executive
leadership team and have been elected officers of the future company:
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Timothy Eckersley, president of Commercial Americas at Ingersoll Rand,
as senior vice president and president of the Americas region
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Todd Graves, vice president, engineering and technology of Ingersoll
Rand Security Technologies, as vice president, engineering and
technology
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Tracy Kemp, vice president, information technology for Ingersoll Rand
Security Technologies and Residential Solutions, as vice president and
chief information officer
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Chris Muhlenkamp, vice president, global operations and integrated
supply chain at Ingersoll Rand Security Technologies, as vice
president, global operations and integrated supply chain
-
William Yu, president of Security Technologies, Ingersoll Rand, Asia
Pacific, as senior vice president and president of the Asia Pacific
region
John Stanley, vice president, finance, Europe, Middle East, India and
Africa (EMEIA) region, will also serve as interim EMEIA regional leader.
John Evans, current president of Residential Security Solutions at
Ingersoll Rand, will remain in his role until the spinoff is complete,
at which point he will remain with Ingersoll Rand. Evans will work
closely with Eckersley and Allegion’s leadership team between now and
the spinoff to ensure a seamless transition.
“As security industry experts, these individuals are uniquely prepared
to lead Allegion to success as an independent, public company. I look
forward to working closely with them to create new opportunities for our
employees, strengthen corporate and shareholder value and deliver a
first-class experience for customers located around the world,” said Dave
Petratis, chairman and CEO of Allegion.
Previous leadership appointments were Patrick Shannon, senior vice
president and chief financial officer, whose role has expanded to
include global business development; Barbara Santoro, senior vice
president, general counsel and Secretary; and Ray Lewis, senior vice
president of Human Resources and Communications.
Forward-Looking Statements
This news release includes “forward-looking statements,” which are
statements that are not historical facts, including, but not limited to,
statements that relate to our intent to create two independent companies
as a result of the proposed spinoff, the potential and opportunities for
the independent companies following the spinoff, Allegion’s strategies
following the spinoff; the expected benefits of the proposed spinoff,
the tax-free nature of the proposed spinoff, the expected credit
profiles of the independent companies, the timing of the transaction and
our capital structure and allocation. The forward-looking statements in
this news release are based on current expectations and assumptions that
are subject to risks and uncertainties, many of which are outside of our
control, and could cause results to materially differ from expectations.
Such risks and uncertainties, include, but are not limited to: our
ability to timely obtain, if ever, necessary regulatory approvals or to
satisfy any of the other conditions to the proposed spinoff; adverse
effects on the market price of our ordinary shares and on our operating
results because of our inability to timely complete, if ever, the
proposed spinoff; our ability to fully realize the expected benefits of
the proposed spinoff; negative effects of announcement or consummation
of the proposed spinoff on the market price of the company’s ordinary
shares; significant transaction costs and/or unknown liabilities;
general economic and business conditions that affect the companies in
connection with the proposed spinoff; unanticipated expenses such as
litigation or legal settlement expenses; failure to obtain tax rulings
or tax law changes; changes in capital market conditions; the impact of
the proposed spinoff on the company’s employees, customers and
suppliers; future opportunities that the company’s board may determine
present greater potential to increase shareholder value; and the ability
of the companies to operate independently following the spinoff. Actual
results could differ materially. For further information regarding risks
and uncertainties associated with our businesses, please refer to our
Form 10-K for the year ended December 31, 2012, Form 10-Q for the
quarter ended March 31, 2013, and in our other SEC filings, as well as
the “Risk Factors” section of Allegion’s Registration Statement on Form
10. Ingersoll Rand assumes no obligation to update these forward-looking
statements.
About Allegion
Allegion (NYSE:ALLE) helps keep people safe and secure where they live,
work and visit. A leading provider of security products and solutions
for homes and businesses, Allegion offers products under 23 global
brands. Allegion specializes in security around the doorway and beyond:
everything from residential and commercial locks, door closers and exit
devices, steel doors and frames to access control and workforce
productivity systems. Allegion is a $2 billion business employing more
than 7,600 people and offering products in more than 120 countries
across the world.
Allegion’s portfolio includes strategic brands CISA®, Interflex®, LCN®,
Schlage® and Von Duprin®; and other brands including aptiQ®, Briton™,
Bricard®, Dalco™, Dexter by Schlage®, Falcon®, Fusion Hardware Group™,
Glynn-Johnson®, ITO Kilit™, Ives®, Kryptonite®, Legge®, Martin Roberts™,
Normbau™, Randi™, Steelcraft®, XceedID®.
For more, visit allegion.com.
About Ingersoll Rand
Ingersoll Rand (NYSE:IR) advances the quality of life by creating and
sustaining safe, comfortable and efficient environments. Our people and
our family of brands—including Club
Car®, Ingersoll
Rand®, Schlage®,
Thermo
King® and Trane®
—work together to enhance the quality and comfort of air in homes and
buildings; transport and protect food and perishables; secure homes and
commercial properties; and increase industrial productivity and
efficiency. We are a $14 billion global business committed to a world of
sustainable progress and enduring results. For more information, visit ingersollrand.com.
Editor’s Note: Please find
brief bios on the newly appointed Allegion executives below. For full
bios or additional information, please contact Misty Zelent at
+1-704-655-5324.
Tim Eckersley, senior vice president and president of the Americas
region. In this role, Tim is responsible for leading Allegion’s
Americas-based business. A 25-year veteran in high growth technology
industries, Tim previously served as Ingersoll Rand’s Security
Technologies president of commercial Americas. Prior to joining
Ingersoll Rand, Tim was senior vice president of customer and market
operations for Nokia in North America. In this role, he was responsible
for Nokia’s multi-billion dollar mobile device business. At Nokia, Tim
also held several senior leadership positions within the network
infrastructure business. Tim received a bachelor’s degree in electrical
engineering and a master’s degree in business administration from the
University of Texas at Arlington.
Todd Graves, vice president, engineering and technology.
In this role, Todd is responsible for driving both product and process
innovation across Allegion’s global business. Todd previously served as
vice president, engineering and technology of Security Technologies at
Ingersoll Rand. Before joining Ingersoll Rand, Todd was the vice
president of engineering for ClearEdge Power, a cutting-edge
manufacturer of fuel cells for stationary applications. Prior to that,
Todd was division vice president of Unmanned Aircraft Systems
engineering at AAI Corporation, an operating unit of Textron Systems, a
Textron Inc. company. Earlier, Todd held a variety of positions at
General Electric Company’s security business in an engineering
leadership capacity. He received a bachelor’s and master’s degrees in
aerospace engineering from the University of Notre Dame.
Tracy Kemp, vice president and chief information officer. In this
role, Tracy is responsible for technology systems, applications and
tools that support Allegion’s global business. She previously served as
vice president, information technology for the Security Technologies and
Residential Solutions sectors at Ingersoll Rand. Prior to joining
Ingersoll Rand, Tracy worked for Eli Lilly and Company for 18 years,
most recently as senior director of information technology. Previously
she held several information technology leadership positions across
enterprise infrastructure, human resources, toxicology and Lilly
Research Laboratories. Tracy received a bachelor’s degree in computer
science and mathematics from Oklahoma Christian University.
Chris E. Muhlenkamp, vice president, global operations and
integrated supply chain. In this role, Chris is responsible for
Allegion’s global production capabilities and global supply chain
relationships. Chris previously served as vice president of operations
and global integrated supply chain for Ingersoll Rand Security
Technologies. He was responsible for the production and manufacture of
doors, locks and hardware at 15 sites that spanned the Americas, Europe
and Asia Pacific. Before joining Ingersoll Rand, Chris held senior
leadership roles in operations, materials, sales, human resources and
purchasing at Delphi Electronics supporting the automotive industry.
Chris holds a bachelor’s degree from the University of Notre Dame and a
master’s in business administration from Ball State University.
John Stanley, vice president, finance and interim EMEIA leader.
In this role, John is responsible for serving as the interim leader of
Allegion’s EMEIA-based business. A 14-year veteran of Ingersoll Rand,
John has served in a variety of operations, general management and
finance roles within the company, most recently serving as vice
president of finance and business transformation for Ingersoll Rand
Security Technologies in the EMEIA region.
William Yu, senior vice president and president of the Asia
Pacific region. In this role, William is responsible for leading our
Asia Pacific-based business. William previously served as the president
of Security Technologies of Ingersoll Rand Asia Pacific and the dean of
the Ingersoll Rand Safety and Security Institute. During his 14 years
working with Ingersoll Rand, William served as director of Shanghai
Ingersoll Rand Compressor Co., Ltd; general manager of Air System
Aftermarket Services; general manager of Ingersoll Rand (Shanghai)
Machinery Co., Ltd; vice president of the Thermo King business in the
Asia Pacific region. William received a bachelor’s degree in German from
the Shanghai University of Technology and a master’s degree in business
administration from China-Europe International Business School. He
resides in Shanghai, China.
Copyright Business Wire 2013