Allegion Board Elects Member Kirk Hachigian As Chairman, Succeeding David Petratis

Allegion plc (ALLE), a security products and solutions provider, Monday said it has elected Kirk Hachigian as its next chairman, effective January 1, 2023.

He will succeed David Petratis, who is retiring from the role as of December 31.

Hachigian has served as a member of the board since Allegion became a standalone company in 2013. Currently, he serves as the board's lead director, and also chairs the board's Corporate Governance and Nominating Committee, a role he will keep as chairman of the board.

In addition to Allegion, Hachigian serves on the board of directors at Paccar Inc. and NextEra Energy, Inc.

He previously served as chairman of the board at JELD-WEN, and a board member at Cooper Industries Plc. as well as Trane Inc.

Hachigian also held the roles of president and CEO at JELD-WEN and Cooper Industries.

With the latest appointment, the company has an independent chairman, and all board committees and their chairs are independent.

John Stone, who became president and CEO of Allegion in July 2022, is a Board member and the only director who is not independent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford Motor Co. has once again raised the price of its popular F-150 Lightning electric pickup truck after the automaker resumed its production that was halted following electric vehicle battery fire incident. The company will also resume shipments of the Lightning this week, reports said. Paducah, Kentucky-based Higdon Outdoors LLC is recalling certain battery packs and replacement batteries citing fire and/or burn hazards, the U.S. Consumer Product Safety Commission said. The recall includes lithium-ion battery packs and replacement batteries on XS Series Pulsators, Swimmers, Crazy Kicker, and Flasher motion decoys used for waterfowl hunting. New York-based Delta Enterprise Corp. is recalling about 43,380 units of 2-in-1 outdoor kids swings citing fall hazard, the U.S. Consumer Product Safety Commission said. This recall involves 2-in-1 Outdoor Kids Swing with model numbers SW86508MM, SW86516MN, SW86575MM, SW86576MN and SW86577PW.
Follow RTT