Carrier Announces Retirement of Director and Former Executive Chairman John V. Faraci
Faraci to serve until Carrier's 2022 Annual Meeting of Shareowners
PALM BEACH GARDENS, FL — Carrier Global Corporation announced that director John V. Faraci will not stand for re-election at the company's upcoming Annual Meeting of Shareowners on April 14, 2022. Mr. Faraci will continue to serve on the board until the Annual Meeting.
"On behalf of the board of directors and everyone at Carrier, I would like to express our sincere gratitude and thanks to John who, as executive chairman, shepherded us through our first year as an independent public company," said Dave Gitlin, Carrier chairman and chief executive officer. "On a personal level, I deeply appreciate John's mentorship. Carrier has greatly benefited from his judgment, leadership, and extensive experience as a public company director and former CEO."
Faraci, 71, has been a member of the Carrier Board since the company separated from United Technologies (since renamed Raytheon Technologies) in April 2020, and served as executive chairman until April 2021. He is a director of ConocoPhillips Company, PPG Industries, Inc., and United States Steel Corporation. Before joining the Carrier Board, he was chairman and chief executive officer of International Paper (paper, packaging, and distribution) from 2003 to 2014, and a director of United Technologies from 2005 to 2020.
"I joined the Carrier Board to assist Carrier through its initial transition from a newly-spun subsidiary of United Technologies to a prominent member of the industrials segment, with robust governance practices and a laser focus on creating long-term value for our shareowners," Faraci commented. "As I depart, I do so with full confidence that Carrier is poised for growth and in great hands under the Board's stewardship and Dave's leadership."
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