Donaldson Company Announces the Retirements of Jack Eugster and John Grundhofer from Board of Directors
Donaldson Company (NYSE: DCI), announced that Jack Eugster and John Grundhofer retired from its Board of Directors, effective at the conclusion of the Company's November 16th Board meeting. Eugster, 66, is the retired Chairman, President and CEO of The Musicland Group, Inc. and was ineligible to stand for reelection this year due to reaching the maximum number of terms that a Director may stand for election. Grundhofer, 73, is the retired Chairman and CEO of U.S. Bancorp and was ineligible to stand for reelection this year due to having reached the Board's mandatory retirement age.
“Jack Eugster joined the Board in 1993 and John Grundhofer joined in 1997 and both have continuously served with distinction,” said Bill Cook, Donaldson's Chairman, President and CEO. “They have provided strong leadership and guidance to me and the rest of our Board, reinforced by insights they gained as Chairmen and CEOs of the companies they led and from their service on other boards. Donaldson's Board, Employees, and Shareholders have greatly benefitted from their loyal support, wise counsel, and many contributions made to the growth and success of our Company.”
John Wiehoff, a Board member since 2003, replaces Eugster as the Chair of the Audit Committee. Wiehoff, 53, is Chairman and CEO of C.H. Robinson Worldwide, Inc. Janet Dolan, a Board member since 1996, replaces Grundhofer as Chair of the Corporate Governance Committee. Dolan, 62, is President of Act 3 Enterprises, LLC and is the retired CEO and President of Tennant Company.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.