Eaton Corporation plc
Eaton Appoints New CFO, Replaces Existing CFO
Summary
Eaton Corporation announced the departure of its current CFO, Thomas B. Okray, effective February 2, 2024, and the appointment of Olivier Leonetti as his successor, effective February 5, 2024. Mr. Leonetti will receive an annual base salary of $890,000 and various equity grants and incentives totaling approximately $4.4 million. The existing CFO will not receive severance or forfeit unvested equity.
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About Eaton Corporation plc
Eaton Corporation plc is a multinational power management company that specializes in providing energy-efficient solutions for a wide range of electrical, hydraulic, and mechanical applications. The company's primary purpose is to improve the quality, reliability, and safety of electrical, hydraulic, and mechanical power, addressing challenges related to efficient energy use and environmental impact. Eaton serves diverse sectors including aerospace, automotive, buildings, utilities, and machinery, with products ranging from circuit protection and lighting solutions to hydraulic motors and filtration systems. Eaton's influence in the market is significant owing to its commitment to innovation and sustainability, which allows industries across the board to optimize power usage and reduce energy costs. Headquartered in Dublin, Ireland, with significant operations in the United States, Eaton leverages a global network to serve customers across more than 175 countries. As industries continue to evolve towards more sustainable practices, Eaton plays a vital role in supporting the transition by providing advanced power management technologies that cater to both commercial and residential needs.
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