Snap-on Incorporated Appoints Ruth Ann M. Gillis to Board of Directors
KENOSHA, Wis. -- July 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.
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.
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
For additional information, please visit www.snapon.com.
Press spacebar to pause and continue. Press esc to stop.