Meritor, Inc. (NYSE: MTOR) announced that Lloyd G. Trotter will be nominated for election to its Board of Directors. If elected, Trotter's appointment will become effective at the company's annual meeting of shareowners in January 2015.
Trotter has extensive experience in business operations, finance, consumer goods and information technology from his years at General Electric, a diversified technology and financial services company. He is a founder of GenNx360 Capital Partners where he has been Managing Partner since February 2008. He served General Electric as Vice Chairman, and as President and Chief Executive Officer of GE Industrial, from 2006 until his retirement in February 2008.
Prior to that, he held various leadership positions with General Electric, including Executive Vice President, Operations; President and Chief Executive Officer, GE Consumer and Industrial Systems; and President and Chief Executive Officer, Electrical Distribution and Control. Trotter serves as a director for both PepsiCo, Inc. and Textron, Inc.
Meritor's chairman and CEO, Ike Evans, said, "We look forward to Lloyd's contributions. We believe that his extensive business experience will complement the existing expertise of the Board and benefit Meritor as we continue to focus on creating greater value for our shareholders."
The Company also announced today that James Marley, who has served on the Board of Directors of Meritor since 1999, will not be standing for re-election when his term expires at the 2015 annual meeting. Mr. Trotter has been nominated as a Class III director to fill Mr. Marley's expiring position.
"We're grateful to Jim for his many years of devoted service to Meritor," said Evans. "He's been a valuable presence as a member of the Board of Directors."
About Meritor, Inc.
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.