NEW YORK - Global Industrial Company (NYSE:GIC), a major distributor of industrial products and MRO (maintenance, repair, and operations) supplies, has announced the appointment of Gary S. Michel as an independent member of its Board of Directors, effective today. Michel steps into the role following the resignation of Thomas R. Suozzi on February 14, 2024, after his election to the U.S. House of Representatives.
Michel brings a significant background in executive leadership to Global Industrial's board, having served as the CEO and a board member at JELD-WEN (NYSE:JELD) Holding, Inc. from 2018 to 2022. His experience also extends to Honeywell International (NASDAQ:HON), Inc., where he was the president and CEO of the Home and Building Technologies strategic business group from 2017 to 2018. Michel's career began at Ingersoll Rand (NYSE:IR), where he spent 33 years, culminating in his role as senior vice president and president of its residential HVAC business.
With a B.S. in mechanical engineering from Virginia Tech and an M.B.A. from the University of Phoenix, Michel's expertise is expected to be a valuable asset to Global Industrial. In addition to his board membership, he will serve on the company's Audit Committee and Compensation Committee.
Executive Chairman Richard Leeds expressed confidence in Michel's abilities, stating that his industry knowledge and experience would contribute positively to the company. Leeds also extended gratitude to Suozzi for his service and wished him well in his congressional duties.
Global Industrial, with a history spanning 75 years, prides itself on customer-centric strategies and a comprehensive product range designed to meet the needs of businesses and facilities. The company emphasizes its commitment to providing quality service and products through its team of experts and national vendor relationships.
This appointment is based on a press release statement and reflects the latest changes to Global Industrial Company's leadership structure.
InvestingPro Insights
As Global Industrial Company (NYSE:GIC) welcomes Gary S. Michel to its Board of Directors, investors and market watchers might be curious about the company's financial health and stock performance. Intuitive Surgical (NASDAQ:ISRG), another major player in the industrial sector, provides a contrasting glimpse into the market with its recent data and analyst insights.
Intuitive Surgical boasts a robust Market Cap of $133.4 billion, reflecting its significant presence in the industry. The company's P/E Ratio stands at 73.78, indicating a high valuation by the market relative to its earnings. Moreover, with a Revenue Growth of 14.49% over the last twelve months as of Q1 2023, Intuitive Surgical demonstrates a solid capacity for increasing its revenue streams.
InvestingPro Tips highlight several key aspects of Intuitive Surgical's performance. The company's stock is known for its low price volatility, suggesting a level of stability appreciated by investors. Additionally, Intuitive Surgical has been recognized for its high return over the last year, with a 58.48% price total return, which may interest those looking for growth potential in their investments.
For investors seeking more in-depth analysis and additional insights, InvestingPro offers a wealth of information. There are 18 more InvestingPro Tips available for Intuitive Surgical, which can be accessed at: https://www.investing.com/pro/ISRG. These tips could provide valuable context and guidance for those considering investment opportunities in the industrial sector. To further enhance the value for our readers, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.