Carrier Global Corporation Announces Board Changes
April 03, 2020 at 12:03 pm
Share
Carrier Global Corporation announced that on March 16, 2020, when the Company's Registration Statement on Form 10 (File No. 001-39220), initially publicly filed with the U.S. Securities and Exchange Commission (the SEC") on February 7, 2020 and subsequently amended, was declared effective, the members of the Board of Directors of the Company (the Board") consisted of Gregory Marshall, Sean Moylan, Michael P. Ryan and Christopher Witzky. On March 17, 2020, the day prior to the start of when-issued trading, the size of the Board expanded to consist of five directors, and Charles M. Holley, Jr. was appointed to the Board and the Audit Committee, effective as of such date. In connection with the Separation and the Distribution, effective as of the Effective Time, the size of the Board expanded again to consist of eight directors, and each of Gregory Marshall, Sean Moylan, Michael P. Ryan and Christopher Witzky resigned from the Board. Each of John V. Faraci, Jean-Pierre Garnier, David Gitlin, John J. Greisch, Michael M. McNamara, Michael A. Todman, and Virginia M. (Gina) Wilson was appointed to the Board effective as of the Effective Time. Charles M. Holley, Jr. remains on the Board and will continue to serve as a director of the Company. As of the effective time of their election to the Board: Each of Michael M. McNamara, Charles M. Holley, Jr., Michael A. Todman and Virginia M. (Gina) Wilson were appointed to serve as members of the Audit Committee of the Board and effective as of the Effective Time, Charles M. Holley, Jr. was appointed Chair of the Audit Committee; Each of John J. Greisch, Jean-Pierre Garnier, Charles M. Holley, Jr. and Michael A. Todman were appointed to serve as members of the Compensation Committee of the Board and John J. Greisch was appointed Chair of the Compensation Committee; Each of Jean-Pierre Garnier, John J. Greisch, Michael M. McNamara and Virginia M. (Gina) Wilson were appointed to serve as members of the Governance Committee of the Board and Jean-Pierre Garnier was appointed Chair of the Governance Committee; and John V. Faraci was appointed Executive Chairman of the Board.
Carrier Global Corporation specializes in the design, manufacture and marketing of heating, ventilation, air conditioning and refrigeration systems for industrial and domestic use. Products are sold under the brand names Carrier, Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO, Riello, Carrier Commercial Refrigeration, Carrier Transicold, Sensitech and others. In addition, the group provides security systems (burglar alarms, access control and video surveillance systems) and fire detection and protection systems, notably under the Autronica, Chubb, Det-Tronics, Edwards, Fireye, GST, Interlogix, Kidde, LenelS2, Marioff, Onity and Supra brands.
Net sales break down by source of income between sales of products (88.5%) and sales of services (11.5%).
Net sales are distributed geographically as follows: the United States (55.2%), Europe (21.4%), Asia/Pacific (19.7%) and other (3.7%).
CARRIER GLOBAL CORPORATION 
