KENOSHA, Wis.--(BUSINESS WIRE)--Jul. 22, 2014--
Snap-on Incorporated (NYSE: SNA) today announced that its board of
directors has appointed Ruth Ann M. Gillis as a director, effective July
18, 2014.
Ms. Gillis, age 59, retired as executive vice president and chief
administrative officer of Exelon Corporation (“Exelon”), a utility
services holding company engaged in the energy generation and delivery
business, in July 2014 after serving in such roles since 2005. She was
also president of Exelon Business Services Company, a subsidiary of
Exelon. Previous roles include executive vice president of ComEd, an
Exelon subsidiary, and chief financial officer of Exelon. Ms. Gillis
also serves as a director of KeyCorp, a bank holding company, and its
subsidiary, KeyBank National Association.
“We are very pleased to welcome Ruth Ann Gillis to Snap-on’s board of
directors,” said W. Dudley Lehman, Snap-on director and chair of the
corporate governance and nominating committee. "Ruth Ann’s extensive
financial and business experience will greatly benefit Snap-on and the
board. We look forward to adding her considerable capability to the
Snap-on team."
Snap-on believes Ms. Gillis meets the independence requirements of the
New York Stock Exchange. Her appointment increases the size of the board
of directors to nine members. In accordance with Snap-on’s bylaws, Ms.
Gillis will serve for a term expiring at the 2015 Annual Meeting of
Shareholders and will be subject to annual election thereafter.
About Snap-on
Snap-on Incorporated is a leading global innovator, manufacturer and
marketer of tools, equipment, diagnostics, repair information and
systems solutions for professional users performing critical tasks.
Products and services include hand and power tools, tool storage,
diagnostics software, information and management systems, shop equipment
and other solutions for vehicle dealerships and repair centers, as well
as for customers in industries, including aviation and aerospace,
agriculture, construction, government and military, mining, natural
resources, power generation and technical education. Snap-on also
derives income from various financing programs to facilitate the sales
of its products. Products and services are sold through the company’s
franchisee, company-direct, distributor and internet channels. Founded
in 1920, Snap-on is a $3.1 billion, S&P 500 company headquartered in
Kenosha, Wisconsin.
Forward-looking Statements
Statements in this news release that are not historical facts,
including statements that (i) are in the future tense; (ii) include the
words “expects,” “anticipates,” “intends,” “approximates,” or similar
words that reference Snap-on or its management; (iii) are specifically
identified as forward-looking; or (iv) describe Snap-on’s or
management’s future outlook, plans, estimates, objectives or goals, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Snap-on cautions the reader that
this news release may contain statements, including earnings
projections, that are forward-looking in nature and were developed by
management in good faith and, accordingly, are subject to risks and
uncertainties regarding Snap-on’s expected results that could cause (and
in some cases have caused) actual results to differ materially from
those described or contemplated in any forward-looking statement.
Factors that may cause the company’s actual results to differ materially
from those contained in the forward-looking statements include those
found in the company’s reports filed with the Securities and Exchange
Commission, including the information under the “Safe Harbor” and “Risk
Factors” headings in its Annual Report on Form 10-K for the fiscal year
ended December 28, 2013, which are incorporated herein by reference. Snap-on
disclaims any responsibility to update any forward-looking statement
provided in this news release, except as required by law.
For additional information, please visit www.snapon.com.
Source: Snap-on Incorporated
Snap-on Incorporated
Investors:
Leslie Kratcoski
262/656-6121
Media:
Richard
Secor
262/656-5561