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Valspar Corp (VAL.N)

VAL.N on New York Stock Exchange

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Summary

Name Age Since Current Position

Gary Hendrickson

60 2012 Chairman of the Board, President, Chief Executive Officer

James Muehlbauer

55 2013 Executive Vice President and Chief Financial and Administrative Officer

Rolf Engh

63 2005 Executive Vice President, General Counsel, Secretary

Howard Heckes

51 2014 Executive Vice President, President - Global Coatings

Les Ireland

51 2014 Executive Vice President, President, Global Consumer Paints

Jeffrey Curler

66 Lead Independent Director

Jack Allen

59 2011 Independent Director

John Ballbach

56 2012 Independent Director

John Bode

68 2005 Independent Director

William Cook

63 2010 Independent Director

Shane Fleming

58 2013 Independent Director

Ian Friendly

56 2009 Independent Director

Janel Haugarth

61 2007 Independent Director

Mae Jemison

60 2002 Independent Director

David Lumley

63 2015 Independent Director

Bill Seymour

2014 IR Contact Officer

Biographies

Name Description

Gary Hendrickson

Mr. Gary E. Hendrickson is Chairman of the Board, President, Chief Executive Officer of The Valspar Corporation. Mr. Hendrickson has held his present positions as Chairman since June 2012, Chief Executive Officer since June 2011 and President since February 2008. Mr. Hendrickson also served as Chief Operating Officer from February 2008 to June 2011. Prior to that, Mr. Hendrickson spent seven years abroad as Valspar’s regional leader for Asia Pacific, a strategic and fast-growing region. Mr. Hendrickson also serves as a director of Polaris Industries Inc., a publicly traded global manufacturer and seller of off-road vehicles, including all-terrain vehicles and snowmobiles. As the Chairman, Chief Executive Officer and President and the former Chief Operating Officer of the Corporation, Mr. Hendrickson has served the Corporation for many years in roles of increasing responsibility. He spent seven years abroad as a regional executive in Asia Pacific, a strategic and fast-growing region. His familiarity with all aspects of the business and its operations, both in the U.S. and internationally, and experience with key customers and acquisitions qualify him to serve as a director.

James Muehlbauer

Mr. James L. Muehlbauer has been appointed as Executive Vice President and Chief Financial and Administrative Officer of the company. Mr. Muehlbauer has more than 25 years of experience in senior leadership roles in finance and operations. Prior to joining Valspar, Muehlbauer was Executive Vice President and Chief Financial Officer of Best Buy Company, Inc. Muehlbauer also held leadership positions at The Pillsbury Company and PriceWaterhouseCoopers. He graduated with a degree in accounting from St. Cloud State University and is a certified public accountant.

Rolf Engh

Mr. Rolf Engh is an Executive Vice President, General Counsel, Secretary of the company. He was appointed as Executive Vice President since July 2005, General Counsel and Secretary since April 1993. Prior to July 2005, Mr. Engh was Senior Vice President since November 1998.

Howard Heckes

Mr. Howard C. Heckes has been Executive Vice President and President, Global Coatings of the Company. Mr. Heckes served as Senior Vice President - Global Architectural of The Valspar Corporation. He joins Valspar from Newell Rubbermaid, Inc., where he served in a number of executive business leadership roles, most recently as President of that company's global Markers, Highlighters, Art & Office Organization business, and brings extensive brand management experience to his role at Valspar. Prior to Newell Rubbermaid, Heckes held positions with the Square D Company and the Bemrose Corporation. His educational background includes a Bachelor of Science degree in industrial engineering from Iowa State University and a master's degree in industrial and management engineering from the University of Iowa.

Les Ireland

Mr. Les H. Ireland has been Executive Vice President and President, Global Consumer Paints of the Company since December 2014. Prior to December 2014, Mr. Ireland was an independent consultant from April 2010 to December 2014, President at Ames True Temper from November 2012 to July 2013, and President, North America Power Tools & Accessories at Black & Decker Corporation from October 2008 to March 2010.

Jeffrey Curler

Mr. Jeffrey H. Curler is Lead Independent Director of The Valspar Corporation. Mr. Curler retired as Chairman Emeritus and a director from Bemis Company, Inc. in December 2011. Mr. Curler served as Executive Chairman of Bemis Company, Inc., a manufacturer of flexible packaging products and pressure sensitive materials, from May 2005 through August 2011 and was Chief Executive Officer from May 2000 through January 2008. Mr. Curler previously served as President of Bemis Company, Inc. from May 1996 through July 2007. Mr. Curler brings to the Board many years of experience as the Chairman, and previously the Chief Executive Officer, of Bemis Company, Inc. He also has significant expertise in chemical engineering and the packaging industry, both of which are highly relevant to the Corporation’s business. Mr. Curler’s leadership skills, industry background and experience make him well qualified to serve as the Corporation’s Lead Director.

Jack Allen

Mr. Jack J. Allen is an Independent Director of The Valspar Corporation, since 2011. Mr. Allen retired as Executive Vice President and Chief Operating Officer of Navistar, Inc. on December 31, 2014. Navistar, Inc. is the largest and core business group of Navistar International Corporation, a global manufacturer and supplier of commercial and military trucks, buses, diesel engines, chassis, service parts for trucks and trailers and a provider of financing for products sold by Navistar and its dealers. Mr. Allen served as Executive Vice President and Chief Operating Officer from April 2013 to December 2014; as President, North American Truck and Parts Group from July 2012 to April 2013; and as President, North American Truck Group from November 2008 to July 2012. Mr. Allen brings to the Board extensive manufacturing and sales experience with branded industrial products. Mr. Allen’s prior responsibilities have included acquisitions and global expansion, both of which are key elements of the Corporation’s strategy. Mr. Allen’s background and experience make him well qualified to serve as a director of the Corporation.

John Ballbach

Mr. John M. Ballbach is an Independent Director of The Valspar Corporation since 3 October 2012. Mr. Ballbach has been an Operating Advisor with Clayton, Dubilier & Rice (“Clayton”), a private equity investment firm, since June 2014. In connection with his role as an Operating Advisor at Clayton, Mr. Ballbach currently serves as Chairman and director for Solenis, LLC, a specialty chemicals manufacturer, which is a portfolio company of Clayton. Mr. Ballbach served as Chairman of VWR International, LLC, a leading global laboratory supply and distribution company, from 2007 to 2012 and was President and Chief Executive Officer from 2005 to 2012. Mr. Ballbach also served as a director and member of the audit committee of The Timken Company, a publicly traded global manufacturer of bearings and related components, until mid-2014. Mr. Ballbach brings to the Board extensive business and industry experience as an advisor to Clayton and as the former Chairman, President and Chief Executive Officer of VWR International, LLC. In addition, he is a former corporate officer of Valspar, serving as President and Chief Operating Officer from 2002 to 2004 and in various senior management positions since 2000. Mr. Ballbach’s global perspective, particularly in finance and strategy, contributes to the Corporation’s further expansion into high growth markets. Mr. Ballbach’s background and experience make him well qualified to serve as a director of the Corporation.

John Bode

Mr. John S. Bode is an Independent Director of The Valspar Corporation since 2005. Mr. Bode retired as Partner from KPMG LLP in January 2005. Mr. Bode was elected to partnership in 1981. Prior to his retirement, Mr. Bode served as a Global Lead Partner. In the last five years, Mr. Bode served as director and Audit Committee Chair for Titan Machinery Inc., a publicly traded company that owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. Mr. Bode brings to the Board many years of experience as the lead audit partner for clients in the consumer products, manufacturing and other industries. Mr. Bode is well qualified to serve as a director based on his experience with accounting principles, financial controls and evaluating financial statements of public companies, particularly from an auditor’s perspective.

William Cook

Mr. William M. Cook is an Independent Director of The Valspar Corporation. Mr. Cook retired as Chairman of Donaldson Company, Inc. on April 1, 2016. Donaldson Company, Inc. is a global provider of air and liquid filtration systems. Mr. Cook served as Chairman from August 2005 to April 2016, and as Chief Executive Officer and President from August 2004 to April 2015. Mr. Cook also serves as a lead director and audit committee member of IDEX Corporation, a publicly traded applied solutions company which manufactures fluid and metering technologies, health and science technologies, and other products, and a director and audit committee member of Neenah Paper, a publicly traded paper company. Mr. Cook brings to the Board many years of experience as the Chairman, President and Chief Executive Officer of Donaldson Company, Inc. Donaldson operates globally and has a particular focus on research and development, giving Mr. Cook an understanding of the dynamics and challenges of developing new products and technologies for global markets. Mr. Cook’s leadership, background and experience qualify him to serve as a director of the Corporation.

Shane Fleming

Mr. Shane D. Fleming has been appointed as Independent Director of The Valspar Corporation. Mr. Fleming retired as Chairman, President and Chief Executive Officer of Cytec Industries Inc. in December 2015, which is when Cytec Industries Inc. merged with Solvay, SA. Mr. Fleming held this position since 2009. Cytec Industries Inc. (now Solvay) is a global specialty material and chemical technologies company. Mr. Fleming served as President and Chief Operating Officer during 2008 and as President, Cytec Specialty Chemicals, from October 2005 to June 2008. Mr. Fleming brings to the Board a deep understanding of the resin, polymer and specialty chemicals industries and many of the markets we serve along with extensive international business experience. Mr. Fleming’s background and experience make him well qualified to serve as a director of the Corporation.

Ian Friendly

Mr. Ian R. Friendly is an Independent Director of The Valspar Corporation since 2009. Mr. Friendly is the Chief Executive Officer of Recombinetics, Inc., a gene-editing company in St. Paul, MN. Mr. Friendly has held this position since May 2016. In June 2014, Mr. Friendly retired as Executive Vice President and Chief Operating Officer, U.S. Retail, General Mills, Inc., a position he held since June 2006. Prior to 2006, Mr. Friendly served as Chief Executive Officer, Cereal Partners Worldwide, a joint venture between General Mills and Nestle, since June 2004. Mr. Friendly brings to the Board valuable retail and operating experience with a well-known branded consumer products company. Mr. Friendly’s qualifications to serve as a director include his extensive experience in building brands, launching new products and marketing, all of which are especially relevant to the Corporation’s Consumer product line. Mr. Friendly also offers a global business perspective to the Board, based on his experience with Cereal Partners Worldwide.

Janel Haugarth

Ms. Janel S. Haugarth is an Independent Director of The Valspar Corporation since 2007. Ms. Haugarth retired as Executive Vice President; President, Independent Business and Supply Chain Services, SUPERVALU INC. on December 26, 2015, a position she held since February 2013. SUPERVALU INC. operates retail food stores and provides food distribution and other supply chain services. Prior to February 2013, Ms. Haugarth served as Executive Vice President; President, Independent Business and Business Optimization, from October 2012 to February 2013; as Executive Vice President, Business Optimization and Process Improvement from August through October 2012; and as Executive Vice President, Merchandising and Logistics, from January 2011 to August 2012. Prior to 2011, Ms. Haugarth served as Executive Vice President; President and Chief Operating Officer, Supply Chain Services since May 2006. Ms. Haugarth brings extensive retail, distribution and supply chain experience to the Board. Ms. Haugarth’s prior responsibilities as the Executive Vice President, Merchandising and Logistics for SUPERVALU INC. are particularly relevant to the Corporation and the Board, given the importance of purchasing and supply chain functions to the Corporation’s operations. Ms. Haugarth’s background and experience make her well qualified to serve as a director of the Corporation.

Mae Jemison

Dr. Mae C. Jemison, M.D. is an Independent Director of The Valspar Corporation. Dr. Jemison has been President of The Jemison Group, Inc. since 1993. The Jemison Group is a technology consulting company that applies and integrates science and advanced technology considering the worldwide social and technological circumstances of the users. Dr. Jemison is leading 100 Year Starship, a new initiative, seed-funded by the Defense Advanced Research Projects Agency (DARPA) to ensure that the capability for human interstellar travel is possible within the next 100 years. She was President and founder of BioSentient Corporation, a medical devices company specializing in ambulatory physiologic monitoring, from 2000 to 2012. Dr. Jemison founded and directs The Earth We Share; an international science camp for students ages 12-16 worldwide. She was a professor of Environmental Studies at Dartmouth College from 1996 to 2002. From 1987 to 1993, she was an astronaut with the National Aeronautics and Space Administration (NASA) and was a member of the Space Shuttle Endeavour Flight in September 1992. Dr. Jemison is also a director of Kimberly-Clark Corporation and a member of the National Academy of Medicine. In the last five years, Dr. Jemison was also a director of the Scholastic Corporation. Dr. Jemison brings a strong science and technology background to the Board, including product innovation and strategy experience. She also has substantial board and committee experience as an independent director of other publicly held companies, including Kimberly-Clark Corporation. Her educational and professional achievements and numerous public and private advisory and leadership roles offer broad experience and a unique viewpoint for the Board of Directors and qualify her to serve as a director of the Corporation.

David Lumley

Mr. David R. Lumley is an Independent Director of The Valspar Corporation. Mr. Lumley retired as President and Chief Executive Officer of Spectrum Brands Holdings, Inc. on April 1, 2015 and as a Director on September 30, 2015. Spectrum Brands Holdings, Inc. is a global and diversified consumer products company. Mr. Lumley served as Director from April 2010 to September 30, 2015; as President and Chief Executive Officer from June 2010 to April 1, 2015; as President, Global Batteries & Personal Care and Home & Garden from January 2007 to November 2013; as Co-Chief Operating Officer from January 2007 to April 2010. Mr. Lumley also serves as a director and member of the compensation committee of Husqvarna AB, a Swedish manufacturer of outdoor power products. Mr. Lumley’s background includes more than 25 years of experience in the consumer products industry, including executive leadership roles at Newell Rubbermaid, EAS, Brunswick Bicycles, Outboard Marine Corporation, Wilson Sporting Goods Co. and other companies. Mr. Lumley’s background and experience make him well qualified to serve as a director of the Corporation.

Bill Seymour

Basic Compensation

Name Fiscal Year Total

Gary Hendrickson

13,225,900

James Muehlbauer

4,030,740

Rolf Engh

2,442,900

Howard Heckes

3,219,340

Les Ireland

2,455,730

Jeffrey Curler

245,000

Jack Allen

213,082

John Ballbach

211,953

John Bode

230,000

William Cook

210,000

Shane Fleming

212,048

Ian Friendly

225,000

Janel Haugarth

210,000

Mae Jemison

210,000

David Lumley

211,703

Bill Seymour

--
As Of  27 Oct 2016