Charlotte-based manufacturer SPX Corp. this week announced two additional board members, Carlisle Cos. Chief Executive Officer David Roberts and retired Duke Energy executive Ruth Shaw.
The appointments of Roberts and Shaw to the board will be effective when SPX officially spins off its flow business, which is expected to happen at the end of the third quarter.
In a statement this week, SPX said Roberts has also been elected to serve as chair of the compensation committee and Shaw will serve as chair of the nominating and governance committee.
SPX said last year it will spin off its flow products division into a standalone called SPX Flow, which will make and sell equipment such as pumps, valves and filtration systems and be led by current SPX CEO Chris Kearney. The remaining part of SPX will continue as a separate infrastructure company, making and selling products such as power transformers, boilers and communication systems, with Gene Lowe, president of SPX’s thermal equipment unit, to serve as CEO.
With the latest appointments, the SPX board structure is now complete. SPX Corp. and SPX Flow announced other board members in August.
“We believe the newly formed board will provide great leadership and counsel to Gene Lowe and his team as they execute on and achieve the growth strategy for SPX Corporation following the spin-off of our FLOW business,” Kearney said.
Roberts has been chairman, president and CEO of Charlotte-based Carlisle Cos. since 2007. Shaw, who held multiple executive roles at Duke Energy including CEO of Duke Power Co., retired from the Charlotte-based utilities company in 2007.
SPX employs about 350 people in Charlotte. After the split, both companies will remain in Ballantyne, the company has said.