Allison Transmission Holdings Inc. (NYSE: ALSN) announced today that Gregory P. Spivy has been appointed to its board of directors.
Spivy is a partner of ValueAct Capital, a San Francisco-based investment firm and Allison’s largest shareholder. Mr. Spivy has been with ValueAct Capital for more than 10 years.
“We’ve had the opportunity to get to know Greg over the past five months, and we look forward to working with him as a member of our board,” said Lawrence E. Dewey, chairman, president and CEO of Allison Transmission. “Greg brings valuable insights given his financial expertise, experience as a public company director and perspective as a shareholder.”
“Allison Transmission is a premier industrial franchise with a track record of success,” said Spivy. “I look forward to working directly with the management team and other members of the board of directors to further enhance value for all shareholders. ”
On December 15, 2014, Allison and ValueAct Capital announced a cooperation agreement which gave ValueAct Capital the option of having Spivy join the Allison board any time before the 60th day prior to Allison’s 2016 annual meeting of stockholders. Spivy’s initial term will expire at the 2017 annual meeting of stockholders.
