Astec Industries, Inc. announced the company’s board of directors have elected Mark Gliebe and Nalin Jain – each a new independent director – effective as of November 10.
The election of Gliebe and Jain will increase the size of the board to 12 directors, 11 of whom are independent directors, and each will serve as a member of the Audit Committee of the Board.
In addition, Gliebe will serve as a member of the Compensation Committee of the Board, and Jain will serve as a member of the Nominating and Corporate Governance Committee of the Board.
William Gehl, Chairman of Astec’s Board of Directors, said, “We are pleased to welcome Mark and Nalin to the Board. Leaders of their caliber, their respective industry knowledge and individual experiences make them very strong additions to our boardroom. We look forward to benefiting from their deep knowledge and expertise as we continue to execute on our strategic priorities to drive shareholder value.”
According to the press release from Astec, “Gliebe is a seasoned, former public-company Chairman and CEO with deep experience in the global manufacturing operations of industrial companies with highly engineered products.”
Until his retirement in 2019, he served as Chairman and CEO of Regal Beloit Corporation, now Regal Rexnord, a global manufacturer of electrical motors and controls, power generation products and power transmission components.
“I admire Astec’s leading position in global construction equipment manufacturing and am honored to join the Board. I look forward to working with my fellow directors to help guide the Company forward,” said Gliebe.
During his eight years as the CEO of Regal Beloit, “Gliebe drove operational excellence from the factory floor up, establishing key performance metrics and aligning incentives,” states Astec.
Prior to Gliebe’s role as CEO, he had served as President and Chief Operating Officer of Regal Beloit from 2005 to 2011. Prior to joining Regal Beloit, he worked at General Electric for 22 years holding various positions of increased responsibility.
Jain currently serves as President, Digital Electronics at Wabtec Corporation, a role he has held since 2020.
Wabtec Corporation is a global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets.
Prior to his current role, Jain served as Group President of Wabtec’s Global Equipment business, leading Wabtec’s comprehensive global locomotive, mining, marine, stationery and drill portfolios. He also led GE Transportation’s international business activities in key markets like APAC, China, Australia, Europe and Africa, and was responsible for expanding the business footprint and global capabilities across these regions.
He previously served as CEO for GE Aviation and GE Transportation in South Asia. Prior to GE, he was Director of Global Partnerships with Bombardier Inc.
“My passion for leveraging technology to create positive change seamlessly aligns with the Company’s purpose-driven mission – to connect people, processes and products, advancing innovative solutions from Rock to Road as OneASTEC,” said Jain. “I am honoured to join the Company’s Board and work with the management team as we advance the Company’s unique and innovative position in the Rock to Road value-chain.”
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