Allegion Board of Directors Elects Lauren B. Peters as Chair

DUBLIN--(BUSINESS WIRE)--Sep 16, 2024--

The Board of Directors (Board) of Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has elected Lauren B. Peters as its next chair, effective Sept. 11, 2024. Peters has served as a member of Allegion’s Board since 2021 and will succeed Kirk S. Hachigian, who is retiring from the Board at the end of his term in June 2025.

Peters is former executive vice president and chief financial officer of Foot Locker, Inc., where she built a track record of expanding profits and implementing innovative solutions while also leading major acquisitions, integrations and strategic investments. With deep expertise in positioning global, publicly held companies for growth, Peters currently serves as a board member for La-Z-Boy and Victoria’s Secret, in addition to Allegion.

“Stepping into the chair role is an incredible honor,” Peters said. “Allegion is an innovative industry leader with a team that’s deeply committed to helping create safe and accessible environments around the world. We have a strong board with diverse skillsets that’s excited to support this meaningful work and Allegion’s future growth. I’m proud to be a part of it."

“Lauren’s knowledge of our business and strategic acumen is an asset to Allegion and will make her a highly effective chair,” Allegion President and CEO John H. Stone said. “We’re grateful for her dedication and look forward to continuing our work together.”

“We’re also grateful for Kirk’s leadership. In his 10 years with Allegion, Kirk has served as our first board member, our first lead director and our first independent chair. Thank you, Kirk, for guiding Allegion in our first decade of growth.”

With Peters’ appointment as Board chair, she will also chair the Corporate Governance and Nominating Committee. In addition, Allegion Board Member Susan L. Main replaces Peters as the Audit and Finance Committee chair as of Sept. 11, 2024.

About Allegion

Allegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA ®, Interflex ®, LCN ®, Schlage ®, SimonsVoss ® and Von Duprin ®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $3.7 billion in revenue in 2023, and its security products are sold around the world. For more, visit www.allegion.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding our strategy, ESG goals and ability to achieve these goals, the company’s business plans and strategy, and the company’s growth strategy. These forward-looking statements generally are identified by the words “believe,” “aim,” “project,” “expect,” “anticipate,” “project,” “estimate,” “forecast,” “outlook,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. Undue reliance should not be placed on any forward-looking statements, as these statements are based on the company's currently available information and our current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the company’s control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Important factors and other risks that may affect the company's business or that could cause actual results to differ materially are included in filings the company makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and in its other SEC filings. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. The company undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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CONTACT: Media Contact:

Whitney Moorman – Director, Global Communications

317-810-3241

Whitney.Moorman@allegion.comAnalyst Contacts:

Jobi Coyle – Director, Investor Relations

317-810-3107

Jobi.Coyle@allegion.comJosh Pokrzywinski – Vice President, Investor Relations

463-210-8595

Joshua.Pokrzywinski@allegion.com

KEYWORD: NORTH AMERICA UNITED STATES IRELAND UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: SECURITY HOME GOODS MANUFACTURING RETAIL FINANCE BUILDING SYSTEMS HARDWARE INTERIOR DESIGN PROFESSIONAL SERVICES ARCHITECTURE RESIDENTIAL BUILDING & REAL ESTATE CONSUMER ELECTRONICS TECHNOLOGY COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY OFFICE PRODUCTS PUBLIC RELATIONS/INVESTOR RELATIONS OTHER MANUFACTURING COMMUNICATIONS

SOURCE: Allegion plc

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