Whirlpool’s long-running commitment to diversity and inclusion will gain reinforcement this spring with the proposed addition of a fourth woman to its executive board of directors.
A corporate executive with a vast financial background has been nominated to join the board of directors of Whirlpool Corporation. Jennifer LaClair of Ally Financial will be up for election to the board at Whirlpool’s Annual Meeting of Stockholders on April 1, 2020.
LaClair is the Chief Financial Officer of Ally Financial and a member of the firm’s executive council. As CFO, her responsibilities include oversight of Ally’s finance, accounting, capital markets, treasury, investor relations, modeling and analytics and supply chain.
Whirlpool CEO Marc Bitzer says, “Jenn is a highly respected leader in the financial services industry. Her unique experience and perspective will be a valuable asset to the board of directors as Whirlpool Corporation forges ahead in our pursuit to constantly improve life at home.”
Prior to joining Ally Financial in December of 2017, LaClair spent ten years at PNC Financial Services. Most recently, she served as the head of business banking where she was charged with setting strategy, driving performance and managing risk. Prior to that role she held a number of senior positions at the company and served as the Chief Financial Officer across all of PNC’s business lines. Previously she was a consultant at McKinsey and Company, focused on strategy and operations.
Of her upcoming new role with the Whirlpool board, LaClair says, “Whirlpool Corporation’s ability to successfully navigate a dynamic environment by leveraging its iconic brands and global scale to deliver innovative products to its customers has been truly impressive,” and she adds, “I’m thrilled to be nominated to join the board of a company with a strong customer focus and a terrific culture. I look forward to sharing my financial and operational experience to help guide Whirlpool Corporation as it executes on its strategic priorities.”
LaClair’s nomination marks the first time in Whirlpool Corporation history that the slate of board nominees will have four women members. Achieving 30-percent female representation on the Board of Directors reinforces Whirlpool’s commitment to Inclusion & Diversity, which has been a core value of the company for decades.
Board members William D. Perez and Michael F. Johnston will be retiring at the end of their term after 10 and 16 years of service, respectively.
Bitzer says, “I’d like to thank William D. Perez and Michael F. Johnston, for their considerable contribution to Whirlpool Corporation during their respective time on the Board of Directors,” and concludes, “Their leadership carried Whirlpool through significant milestones that drove our company to the leading position we hold today.”
Current members of the board that have also been nominated for re-election include Marc R. Bitzer, Samuel R. Allen, Greg Creed, Gary T. DiCamillo, Diane M. Dietz, Gerri T. Elliott, John D. Liu, James M. Loree, Harish Manwani, Patricia K. Poppe, Larry O. Spencer, Michael D. White.
Today the board of directors of Whirlpool also declared a quarterly dividend of $1.20 per share on the company’s common stock. The dividend is payable March 15, 2020, to stockholders of record at the close of business on February 28, 2020.
