Trane Technologies plc announced the transition of Chief Executive Officer Michael W. Lamach to Executive Chair of the Board, effective July 1, 2021. Mr. Lamach has been the CEO of Trane Technologies since February 3, 2010. From 2010 to 2020, Mr. Lamach realized $279,632,942 in total compensation.
On July 1, 2021, David S. Regnery will assume the role of Chief Executive Officer. Mr. Regnery currently serves as the President and Chief Operating Officer of the Company. His annual target compensation will be as follows:
|Base Salary||Target Bonus||Target Annual RSUs and Options||Target Annual PSUs||Total Annual Compensation|
||$1.8 million||$3 million||$3 million||$9 million|
Additionally, Mr. Regnery will receive a one-time equity grant worth $3,140,000, composed of $720,000 in RSUs, $720,000 in stock options and $1,700,00 in PSUs.
To view the details of this transition, please click here.
To view Mr. Regnery’s offer letter, please click here.
Michael W. Lamach is the 27th CEO from the Equilar 500 to announce their resignation in 2021.
Senior Research Analyst at Equilar
Owen Gilles, Senior Research Analyst at Equilar, authored this post. Please contact Amit Batish, Director, Content & Communications, at email@example.com for more information on Equilar research and data analysis.