Fortive (FTV) Announces Board Chair Transition

Fortive Corporation (“Fortive”) (NYSE: FTV) today announced that its Board of Directors has appointed Sharmistha “Shar” Dubey as the Chair of the Board. Ms. Dubey succeeds Alan G. Spoon who has notified the Board that he will retire from the Board and not stand for reelection at the upcoming Annual General Meeting in June 2025.

“It has been a privilege to serve as Chair of Fortive’s Board of Directors since its spin-off from Danaher over eight years ago,” said Mr. Spoon. “As we progress towards the completion of the previously announced separation of the Precision Technologies segment, this is the right time to elevate new leadership to guide the company in its next exciting chapter. Shar has extensive strategic, operational, and executive leadership experience as well as deep knowledge of Fortive, which will serve the Board, the company, and our shareholders well. I have the utmost faith in her ability to continue to steward innovation and success at Fortive.”

Ms. Dubey served as a Director on the Fortive Board of Directors since 2020 and has been a member of the Nominating and Governance and Compensation Committees. She previously served as the CEO of Match Group, Inc. from 2020 to 2022, and prior to that, held various leadership roles at Match Group since 2006, including as Match Group's President, Chief Operating Officer of Tinder, President of Match Group Americas, Chief Product Officer of Match, and Chief Product Officer and EVP of The Princeton Review. In addition to her role at Fortive, Ms. Dubey also has served as a board member at Match Group since 2019 and Prosus and Naspers Limited since 2022.

“I am honored to be elected Chair of the Board of Fortive during this evolutionary time for the company,” said Ms. Dubey. “Alan’s mentorship has been invaluable, and I know that I speak for the entire Board when I say that his unwavering service and dedication to the company has been a meaningful part of its operational and financial success. As we move into this next phase of leadership and growth at Fortive, the entire Board and management team remain resolute in our commitment to creating exceptional value for our customers, shareholders, employees, and broader communities we serve.”

James A. Lico, the Fortive CEO, President and Director, stated, “I extend my heartfelt thanks to Alan for his generous dedication and service, and congratulate Shar on her well-deserved appointment as Chair of the Fortive Board. Over the last five years, Shar has been integral to our strategic evolution. She deeply understands our businesses and shares our passion for innovation and continuous improvement. Her track record of driving success by empowering teams will continue to be incredibly valuable to Fortive going forward.”

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