SPR - Barnes announces retirement of Thomas O. Barnes as Board Chairman
2024-03-05 16:25:32 ET
- Barnes Group ( NYSE: B ) announced planned retirements of Chairman Thomas O. Barnes and Lead Independent Director Mylle H. Mangum, effective at the company’s Annual Meeting of Stockholders in May 2024.
- Barnes will become Chairman Emeritus and continue to lead the Barnes Foundation following his retirement from the Board.
- The company also announced that the Board has selected Richard J. Hipple as Chair Elect, reflecting its intention to appoint Hipple Chair of the Board of Directors effective immediately after the 2024 Annual Meeting of Stockholders.
- In addition, the company entered into a cooperation agreement with Irenic Capital Management under which the Board appointed Adam Katz, co-founder of Irenic Capital Management, to serve on its Board, effective immediately.
- It is engaging Larry Lawson, former CEO of Spirit AeroSystems Holdings, to serve as a Special Advisor to the Board of Directors and Barnes’s senior management team.
- Barnes will also work with Irenic to identify an additional mutually agreed upon independent director to appoint to the Board of Directors.
- Source: Press Release