HI Hillenbrand Inc

Incora and certain of its affiliates (collectively, “Incora” or the “Company”), a leading global provider of innovative supply chain management solutions, today announced that it has designated nine new members to its board of directors (the “Board”), including Incora Chief Executive Officer David Coleal.

“I am thrilled about the nominations for Incora’s new Board of Directors and am excited by the caliber of the individuals. Their collective experience and diverse perspectives will be invaluable as we work together to shape the future of the Company,” said David Coleal, Chief Executive Officer of Incora. “I am confident that our go-forward partnership will strengthen Incora’s ability to execute on its long-term strategic goals. This is an exciting moment for Incora, and, following confirmation of their nominations, I look forward to working closely with each of our new Board members to drive innovation and achieve sustainable growth.”

Board of Directors Nominations

Robert (Bob) L. Nardelli is a highly regarded operating executive with more than 50 years of experience driving growth and profitability for multinational companies. Mr. Nardelli is known for quadrupling operating profits at GE Power Systems, doubling The Home Depot’s size during his time as Chairman and CEO and supporting Chrysler as Chairman and CEO during the auto industry crisis. As the founder of XLR-8, LLC, Mr. Nardelli helps businesses address opportunities to close gaps and improve performance. Mr. Nardelli has been appointed Non-Executive Chairman of the Board.

Adam Hieber is an executive vice president and the global head of Corporate Asset Management at Pacific Investment Management Company LLC, with extensive board and leadership position experience, including as Chairman, CEO, CFO and CRO. Prior to this, he worked for SoftBank as an operating partner and the head of Portfolio Performance Management. Previously, Mr. Hieber was at Cerberus Capital Management, where he was a managing director and the president of the global operating team, working across private equity, credit, lending, nonperforming loans and real estate strategies.

Bernd F. Kessler is an accomplished executive with extensive experience in the aerospace manufacturing, maintenance and supply chain industry. He served as CEO of SRTechnics AG from 2008 to 2010. Prior to that, Mr. Kessler was President and CEO of MTU Maintenance, where he played a key role in MTU Aero Engines AG’s successful IPO on the Frankfurt Stock Exchange, and held management and executive positions for 20 years at Honeywell International, Inc. and its preceding company AlliedSignal Corp. He is currently an independent director on the Boards of Polaris Inc., Groupe Latecoere and he is Chairman of ProXES GmbH.

Jared Weisman is a managing director at Silver Point Capital, L.P., bringing extensive experience in restructuring, turnarounds and investment management. Prior to joining Silver Point, Mr. Weisman was a managing director at Oak Hill Advisors. Mr. Weisman also held positions at Plainfield Asset Management and started his career as an investment banking analyst at Citigroup, where he advised financial sponsors.

Thomas Weld is Chairman and CEO of CCG Advisors, LLC, which he founded in 2005 to help companies improve EBITDA, sales and cash by identifying opportunities, building action plans and implementing changes. He has led major transformations, including for Tier One and Tier Two automotive parts suppliers, value added distributors, and specialty manufacturing and chemical companies. Mr. Weld was one of four general partners at Three Cities Research, Inc., a middle-market private equity firm, and worked at McKinsey & Company, focusing on operational improvements and strategic consulting.

Felix Lo is a seasoned leader in the broader industrials sector and is currently a managing director at Golden Gate Capital, where he focuses on private equity investments with an emphasis on high-margin market leaders in niche markets. Prior to joining Golden Gate Capital, Mr. Lo worked as an investment professional in the San Francisco office of Bain Capital and as a consultant in the San Francisco office of Bain & Company.

Robert (Bob) J. Eck is a leader in the global distribution and supply chain management services sector and an experienced executive and board member. He served as CEO of Anixter International for ten years, from 2008 to 2018, overseeing the Company’s growth in network and security solutions with two new global service businesses and establishing its global reputation leading up to its sale to Wesco International Inc. Mr. Eck was previously the Chair of the Board of the Marquette University Board of Trustees from 2020 to 2023, and currently serves on the Board of Ryder System Inc., and a director and the Audit Committee Chair at Harrington Industrial Plastics, LLC. Mr. Eck has been appointed Chair of the Compensation Committee.

Joseph (Joe) T. Lower is a senior executive with extensive experience in strategic planning, mergers and acquisitions, cost reduction and capital allocation, and creating value across multiple industries. He most recently served as EVP and CFO at AutoNation, Inc., where his leadership contributed to an almost 350 percent increase in stock price and record profitability. Mr. Lower has a background in corporate finance and business development at companies including Boeing, B/E Aerospace and Office Depot. Mr. Lower also serves on the Boards of Hillenbrand, Inc (HI: NYSE) and the Atlas Group. Mr. Lower has been appointed Chair of the Audit Committee.

“It is an honor to have this opportunity with Incora and to work with so many other leaders across the aerospace and supply chain management industries,” said Robert Nardelli, designated Non-Executive Chairman of the Board. “Incora is poised for growth in the years ahead with its global team, strong partnerships and innovative solutions. Once we have been confirmed, I’m looking forward to getting started with the rest of the Board and the Incora leadership team.”

About Incora

Incora is a leading provider of comprehensive supply chain management services to the global aerospace and other industries. Beginning with a strong foundation in aerospace and defense, Incora also utilizes its supply chain expertise to serve industrial manufacturing, marine, pharmaceutical and beyond. Incora incorporates itself into customers' businesses, managing all aspects of supply chain from procurement and inventory management to logistics and on-site customer services. The company is headquartered in Fort Worth, Texas, with a global footprint that includes 68 locations in 17 countries and more than 3,800 employees. For more information, please visit incora.com.

Forward Looking and Cautionary Statements

Incora has included statements in this press release that constitute "forward-looking statements." As a general matter, forward-looking statements are those focused on future or anticipated events or trends, expectations and beliefs including, among other things, Incora's expectations with respect to the restructuring described herein. Such statements are intended to be identified by using words such as "believe," "expect," "intend," "estimate," "anticipate," "will," "project," "plan" and similar expressions in connection with any discussion of future operating or financial performance. Any forward-looking statements are and will be based upon Incora's then-current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Readers are cautioned not to put undue reliance on such forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those projected in this press release. Incora undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contact

Rachel Chesley / Victoria ZaharoffIncoraComms@fticonsulting.com