L3Harris Technologies, Inc. (LHX, Financial) has announced a strategic expansion of its Board of Directors, increasing the number of authorized directors from fourteen to fifteen. This move comes with the appointment of David S. Regnery as an independent director, effective October 15, 2024. Mr. Regnery, who currently serves as the CEO and Chair of the Board of Trane Technologies plc, brings a wealth of experience and leadership to L3Harris.
Mr. Regnery's initial term on the L3Harris Board will extend until the company's 2025 Annual Meeting of Shareholders. Although he has not been assigned to any specific committees at this time, his role as a non-employee director will see him compensated according to the company's established compensation framework for non-employee directors.
This appointment is part of a broader agreement with D. E. Shaw Oculus Portfolios, L.L.C and D. E. Shaw Valence Portfolios, L.L.C., marking Mr. Regnery as the third independent director added to the Board under this cooperation agreement. The addition of Mr. Regnery is expected to enhance the Board's diversity and strategic oversight capabilities, aligning with L3Harris's commitment to robust governance and leadership.
The company officially announced Mr. Regnery's appointment through a press release on October 15, 2024, underscoring its ongoing efforts to strengthen its governance structure and drive long-term value for shareholders.
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