Modine Manufacturing Company
Modine Manufacturing Announces Leadership Change in Performance Technologies Segment
Summary
On February 26, 2025, Modine Manufacturing Company announced that Adrian I. Peace, President of its Performance Technologies segment, will resign effective September 30, 2025. The company will launch a search for his successor. In the interim, Neil D. Brinker, Modine's President and CEO, will lead the segment. Mr. Peace is eligible for severance benefits including 52 weeks of pay, COBRA premiums, a lump-sum cash payment, and continued vesting of his unvested equity awards. The company issued a press release on the same day, announcing the separation. A copy of the press release is attached as Exhibit 99.1.
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About Modine Manufacturing Company
Modine Manufacturing Company, a prominent player in the industrial sector, specializes in thermal management solutions. Established in 1916 and headquartered in Racine, Wisconsin, Modine is dedicated to developing and manufacturing heat transfer products that serve a wide array of applications. These products include radiators, oil coolers, and HVAC components which are utilized across diverse industries such as automotive, commercial vehicles, building HVAC systems, and power generation. With a focus on innovation and sustainability, Modine addresses the increasing global demand for energy-efficient and environment-friendly heating and cooling systems. The company's extensive expertise and advanced engineering capabilities allow it to cater to both standard and customized solutions for clients worldwide, maintaining a significant presence in emerging and established markets. Modine's impact is substantial, as it supports critical sectors by providing products that ensure effective thermal management, thereby enhancing performance and safety standards in various applications. Through continuous investment in research and development, Modine Manufacturing Company strives to lead in thermal innovation and operational excellence, reinforcing its commitment to improving industrial energy efficiency and environmental performance.
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