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Eaton (ETN) has issued an announcement.
Eaton Corporation plc has expanded its Board of Directors, adding Paulo Ruiz, who will also serve as President and Chief Operating Officer starting September 2, 2024. Ruiz is set to become the CEO on June 1, 2025, succeeding Mr. Arnold upon his retirement. With a robust background at Eaton, including leadership roles in various sectors since 2019, Ruiz’s director term will extend to the 2025 Annual General Meeting, with an expected nomination for re-election. His compensation includes a base salary increase to $1 million, with additional short-term incentives, aligned with the company’s executive compensation plans.
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