Hubbell Incorporated (HUBB, Financial) has announced the election of Garrick J. Rochow as an independent director, effective November 19, 2024. Mr. Rochow will serve on both the Audit Committee and the Finance Committee of the Board, bringing his expertise to these critical areas.
The appointment of Mr. Rochow comes without any pre-existing arrangements or understandings with other parties, ensuring his independent status. Furthermore, neither Mr. Rochow nor his immediate family members are involved in any transactions that require disclosure under Item 404(a) of Regulation S-K.
In recognition of his new role, Mr. Rochow received a restricted stock award valued at $160,000 on the effective date. He will also participate in Hubbell's standard non-employee director compensation arrangements, as detailed in the company's definitive proxy statement filed earlier this year.
This strategic addition to the Board underscores Hubbell's commitment to enhancing its governance and oversight capabilities, particularly in financial and audit matters. The company issued a press release on November 19, 2024, to announce this significant development.
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