Wabtec Elects First Woman to Board of Directors, Demonstrating Commitment to Diversity
July 26, 2016: Trillium Asset Management, LLC commends Wabtec Inc. (NYSE: WAB) for electing Linda Hart, Vice President and Treasurer of Medtronic PLC, to its Board of Directors. Ms. Hart’s strong background in finance and treasury, acknowledged in the company’s press release, makes her a strong addition to the board as Wabtec continues to expand its business globally.
Following constructive dialogue with Trillium, Pennsylvania Treasury, and The Thirty Percent Coalition, and subsequent to a shareholder proposal filing, Wabtec’s board agreed in 2014 to amend its Corporate Governance Guidelines and Nominating & Corporate Governance Committee Charter. The revisions demonstrate a clear definition of diversity, inclusive of gender and race, and make diversity an intentional part of board nominee search criteria.
Numerous studies have documented that greater board and management diversity results in improved corporate governance, competitiveness and financial performance. Moreover, a growing number of corporate leaders across industry sectors are drawing attention to important dimensions of high-functioning corporate leadership teams and boards of directors, which includes increasing women representation and drawing director candidates from rigorously diverse pools.
As investors, we are pleased that Wabtec has taken important steps to strengthen its corporate governance practices, and applaud the recent appointment of Ms. Hart.
For more information: Susan Baker, Trillium Asset Management, email@example.com, 617-532-6681
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