Allegion Welcomes New Board Member Gregg Sengstack

Allegion Strengthens Leadership with New Board Appointment

Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, is thrilled to announce the appointment of Gregg Sengstack to its Board of Directors. Sengstack, who has demonstrated strong leadership as the executive chairperson of Franklin Electric Company, Inc., will add significant value to Allegion's governance.

Overview of the Board Composition

Following Sengstack’s addition, Allegion's board now comprises nine members, eight of whom serve as independent directors. Sengstack's expertise will be highlighted in his role on the Board’s Audit and Finance Committee, Compensation and Human Capital Committee, as well as the Corporate Governance and Nominating Committee.

Welcome Message from Board Chair

Lauren B. Peters, chair of the Board, expressed enthusiasm regarding Sengstack's appointment, stating, "Gregg brings a wealth of knowledge and skills from a professional career that spans more than 30 years. He has served as a public company CEO and CFO and has extensive experience in international markets, general management, and finance. We're excited to welcome him to the Allegion Board." This reflects the company's commitment to incorporating leaders with extensive experience into its governance structure.

Sengstack's Professional Journey

Gregg Sengstack's career began at Franklin Electric in 1988, where he initially took on the role of assistant treasurer. His path quickly progressed, leading to his appointment as chief financial officer (CFO) in 1999. Sengstack's robust tenure as CFO laid the foundation for subsequent leadership positions, including senior vice president and president of Franklin Fueling Systems and International Water Group. Notably, he served as CEO for a decade before being named chairperson of Franklin Electric's board in 2015.

Additional Roles and Education

In addition to his impressive work with Allegion, Sengstack is also a respected member of Woodward, Inc.’s board. His academic credentials include degrees from Bucknell University and the University of Chicago, underscoring a strong foundation in both business and finance.

A Focus on Corporate Governance

Allegion places tremendous emphasis on corporate governance and ethical business practices. The company values its board's experience and diverse backgrounds, ensuring that it operates with transparency and accountability. To learn more about Allegion's corporate governance and practices, stakeholders are encouraged to visit the company's official website for detailed insights into their governance structure.

About Allegion

Allegion (NYSE: ALLE) is recognized as a global pioneer in seamless access control, operating with a suite of reputable brands such as CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin. The company’s primary objective is to secure people and assets through innovative solutions focusing on security around doors and adjacent areas. With impressive revenue figures, Allegion is proud to provide high-quality security products distributed globally, safeguarding homes, businesses, schools, and institutions.

Frequently Asked Questions

What is the significance of Gregg Sengstack's appointment to Allegion's Board?

Gregg Sengstack brings over 30 years of financial and international market experience, which enhances Allegion's governance and strategic direction.

How many members are on Allegion's Board of Directors?

With Sengstack's addition, Allegion's Board now has nine members, including eight independent directors.

What roles will Sengstack serve on the Board?

Sengstack will be involved in several committees, including the Audit and Finance Committee, Compensation and Human Capital Committee, and the Corporate Governance and Nominating Committee.

What is Allegion known for in the security industry?

Allegion is a global leader in security products, focusing on seamless access solutions and recognized for its well-known brands.

Where can I find more information about Allegion's governance?

For detailed insights into Allegion's corporate governance, stakeholders can visit Allegion's official website.

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