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CLEVELAND - Lincoln Electric Holdings, Inc. (NASDAQ: NASDAQ:LECO), a global leader in welding and cutting equipment, announced on Monday the election of N. Joy Falotico to its Board of Directors, effective February 19, 2025. Falotico, the former President of The Lincoln Motor Company, brings extensive financial and commercial expertise to the board, which now comprises 12 members, 11 of whom are independent.
Falotico’s career at Ford Motor Company (NYSE: NYSE:F) spanned 33 years, where she held various senior leadership roles, including Chief Marketing Officer and Group Vice President. She also served as Chair and CEO at Ford Motor Credit Company. According to InvestingPro data, Ford currently maintains a significant market presence with $185 billion in revenue and a market capitalization of $37.1 billion. The company trades at an attractive P/E ratio of 6.3 and offers an impressive 8% dividend yield. Her academic credentials include a Bachelor of Science in Business Administration from Truman State University and an MBA from DePaul University. Alongside her new role at Lincoln Electric, Falotico also serves on the boards of Alliant Energy (NASDAQ: NASDAQ:LNT) and Lineage, Inc. (NASDAQ: LINE).
Steven B. Hedlund, Chair, President, and CEO of Lincoln Electric, expressed confidence that Falotico’s "diverse global leadership experience" would significantly contribute to the company’s strategic initiatives aimed at driving long-term, profitable growth.
Lincoln Electric, headquartered in Cleveland, Ohio, is recognized for its advanced arc welding solutions, automated joining and cutting systems, and a leading position in brazing and soldering alloys. With a presence in 20 countries and a network serving customers in over 160 countries, the company emphasizes innovation in materials science, software development, automation engineering, and application expertise.
The appointment of Falotico to the Board of Directors is based on a press release statement from Lincoln Electric and reflects the company’s commitment to leadership diversity and strategic growth.
In other recent news, Ford Motor has decided to withhold stock bonuses from about half of its middle managers this year. This move is part of an effort to reduce costs and improve employee performance, according to reports. The decision aligns with CEO Jim Farley’s strategy to trim the company’s excessive costs. The change is expected to foster a high-performance culture by acknowledging and rewarding employees for their contributions. In related developments, President Donald Trump announced plans to impose tariffs on imported cars, with implementation expected around April. Trump’s announcement includes provisions for non-monetary tariffs aimed at addressing broader trade issues. Additionally, the White House is considering exemptions to these reciprocal tariffs, potentially including autos and pharmaceuticals. House Speaker Johnson shared this information, noting that President Trump discussed these potential exemptions with GOP lawmakers.
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