Astec appoints two members to board of directors, one director retiring

Astec Industries (ASTE) announced the company’s board of directors appointed Patrick Shannon and Jeffrey Jackson, new independent directors, to the Board effective as of January 18, 2024. William Bradley Southern, an independent director, informed the Board he will be retiring as a member of the Board effective January 18, 2024. With the election of Shannon and Jackson, and the retirement of Southern, the size of the Board increased to 11 directors, 10 of whom are independent directors. Shannon will also serve as a member of the Audit Committee of the Board and Jackson will serve as a member of the Compensation Committee of the Board. Shannon served as CFO of Allegion (ALLE) following its spinoff from Ingersoll Rand in 2013 until his retirement in 2022. Jackson is the President and Chief Executive Officer of PGT Innovations (PGTI), a manufacturer and supplier of windows, doors and garage doors with annual revenues in excess of $1.5 billion.