Donaldson Co. Inc. has announced changes to the leadership of its board of directors, effective with the company’s annual meeting of shareholders to be held in November. Tod Carpenter, Donaldson’s president and CEO, will become chairman of the board of directors, and current director Willard Oberton will serve as lead independent director. Carpenter will replace non-executive chairman Jeffrey Noddle, who will not stand for reelection at the 2017 annual meeting.
“I am honored to be appointed lead director and look forward to continuing to drive the culture of integrity and strong governance with Donaldson’s Board and management team,” said Oberton. “On behalf of the board, I want to congratulate Tod on being appointed chairman. His strategic vision, combined with his unwavering commitment to Donaldson’s customers, shareholders and employees, give us confidence in Donaldson’s ability to continue to create value for all of our stakeholders.”
“I am humbled to have been appointed chairman, and I want to thank the board for its support,” said Carpenter. “I also want to thank Jeff for his 17 years of service. He has been an influential leader on the board throughout his tenure, and in recent years has been a tremendous resource to me as I transitioned into the role of CEO. In partnership with Will and the rest of the board, we remain committed to building on our company’s legacy of making thoughtful investments to deliver strong financial performance. I am excited about our opportunities and look forward to working with the board to execute these plans.”
Carpenter was appointed to Donaldson’s board in April 2014 and has been the company’s president and CEO since April 2015. Carpenter joined Donaldson in 1996 and has held a variety of leadership roles with increasing responsibility during his 21 years with the company.
Oberton currently serves as chairman of the board of Fastenal Co. He was appointed to Donaldson’s Board in July 2006, and he is the chairperson for the corporate governance committee.
Noddle was appointed as lead independent director of Donaldson’s board in January 2015 before becoming non-executive chairman in April 2016. Noddle joined Donaldson’s board in 2000.