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The Eastern Company Will Nominate Peggy B. Scott to Join Its Board of Directors

EML | February 28, 2019

The Eastern Company (NASDAQ:EML) today announced that the Board of Directors has decided to nominate Peggy B. Scott to join its Board of Directors. Shareholders will have an opportunity to elect Ms. Scott at Eastern’s annual meeting on May 1, 2019.

Mr. Mitarotonda, Chairman of the Board of Directors and Chairman of the Nominating and Governance Committee said "After a thorough search process, we are thrilled to nominate Peggy to our Board, and we will no doubt benefit from her deep experience as CEO, Board Chair and Director as well as her professional accounting and finance expertise."

Ms. Scott is currently Chairperson of the Board of Cleco Corporate Holdings LLC, an electric power company with assets of $7.0 billion, headquartered in the Central Louisiana city of Pineville, and served as its Interim CEO from February 2017 to December 2017. Previously, Ms. Scott served as the Executive Vice President, Chief Operating Officer and Chief Financial Officer of Blue Cross Blue Shield of Louisiana (“BCBS”) and as Chief Strategy Officer. Prior to BCBS, Ms. Scott was an office Managing Partner with Deloitte advising industrial companies and held executive positions in United States and International companies where she led transformations, growth strategies and operations in seven foreign countries. Ms. Scott was named one of the ten Outstanding Young Women of America, featured in the Wall Street Journal as National Financial Executive of the year, and inducted into the American Institute of CPAs’ Business & Industry Hall of Fame. Ms. Scott was the first woman ever designated a managing partner of any Deloitte office and is a Certified Public Accountant and certified in Valuations/Forensics.

About The Eastern Company

The Eastern Company is 160-year old manufacturer of industrial hardware, security products and metal castings. It operates 16 locations in the United States, Canada, Mexico, Taiwan and China.

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