Helen Cornell Elected Vice Chairperson of Hillenbrand, Inc. - Will Become New Board Chairperson upon Joe Loughrey's Retirement in 2023
BATESVILLE, Ind., Feb. 10, 2022 /PRNewswire/ -- The Hillenbrand, Inc. (NYSE:HI) board of directors announced that, effective immediately, it has elected Helen W. Cornell as Vice Chairperson of the Board, and to become Chairperson of the Board effective upon the retirement of F. Joseph Loughrey, the Company's current Chairperson. Consistent with the board's retirement policy, Mr. Loughrey will retire as of a date not later than the company's 2023 annual meeting of shareholders. Ms. Cornell was also elected as Chairperson of the company's Nominating/Corporate Governance Committee, effective immediately, succeeding Mr. Loughrey in that role.
"Our board is committed to strong, effective, and transparent governance practices as evidenced by the appointment of Helen Cornell as Vice Chairperson," stated Joe Loughrey. "For years I have worked closely with Helen as a board member and have come to know her as an effective leader who will maintain a strong governance culture and foster best practices at Hillenbrand. I look forward to working with her over the next year to effect a smooth transition of the role of Chairperson."
Ms. Cornell is the retired executive vice president and chief financial officer of Gardner Denver, now Ingersoll Rand, and is current president, chief executive officer, and chair of the privately-owned Owensboro Grain Company. She is also a director of the privately-owned food distributor Dot Family Holdings, LLC, where she is a member of the Compensation Committee and chairs the Audit Committee. Ms. Cornell also previously served as a director, and chaired the Audit Committee, of Alamo Group, Inc., manufacturer of agricultural and other equipment. She has been a member of the Hillenbrand board since 2011 and has served as Chairperson of Hillenbrand's Compensation and Management Development Committee since 2018.
"I am honored to be named the next Chairperson of the Board and appreciate the confidence placed in me by my fellow board members," stated Ms. Cornell. "I look forward to working with Joe through this transition period as the board maintains its sound governance practices in support of the company's transformation and continued growth."
Gary L. Collar has been elected to succeed Ms. Cornell as Chairperson of Hillenbrand's Compensation and Management Development Committee, effective immediately. Mr. Collar has served as a director of the company since May 2015, working closely with Ms. Cornell on the Compensation and Management Development Committee. He is the retired senior vice president and general manager of the Asia Pacific and Africa region for AGCO Corporation, a world leader in the development, manufacture, and marketing of agricultural machinery and solutions. Prior to that role, Mr. Collar served from 2004 to 2011 as AGCO's senior vice president and general manager of Europe, Africa, Middle East, Australia and New Zealand, and his tenure at AGCO included service on the boards of directors of certain AGCO investments and joint ventures.
Ms. Cornell and Mr. Loughrey will work closely during the upcoming year to execute a smooth transition and continue to provide leadership and direction to the company's board of directors.
About Hillenbrand
Hillenbrand (www.Hillenbrand.com) is a global diversified industrial company with businesses that serve a wide variety of industries around the world. We pursue profitable growth and robust cash generation to drive increased value for our shareholders. Hillenbrand's portfolio includes industrial businesses such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville, a recognized leader in the death care industry in North America. Hillenbrand is publicly traded on the NYSE under "HI."
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SOURCE Hillenbrand, Inc.