UL Solutions appoints new chief legal officer

NORTHBROOK, Ill. - UL Solutions Inc. (NYSE: ULS), a $10.27 billion market cap company known for its work in applied safety science, has named Scott D’Angelo as its new executive vice president and chief legal officer, effective April 21, 2025. The company has shown strong market performance with a 48.34% return over the past year. According to InvestingPro analysis, UL Solutions maintains impressive gross profit margins and operates with a moderate level of debt. D’Angelo, who brings a wealth of experience from his previous role at CTS Corp., will join UL Solutions’ executive leadership team and report to President and CEO Jennifer Scanlon.

His responsibilities will encompass overseeing the company’s legal affairs, as well as its brand integrity, ethics, and compliance functions. D’Angelo’s appointment comes as UL Solutions continues to navigate its position in the testing, inspection, and certification industry as a public entity.

D’Angelo’s career prior to this appointment includes serving as vice president, chief legal and administrative officer, and corporate secretary for CTS Corp. He has also held positions as counsel at Baker McKenzie and as vice president, deputy general counsel, and chief compliance officer for Fortune Brands Innovations. His extensive experience also includes a 12-year tenure at McDonald’s Corp., where he served as divisional general counsel among other senior roles. He joins UL Solutions at a time when the company maintains strong financial health, with InvestingPro data showing a robust EBITDA of $568 million and healthy gross margins of 48.54%.

Jennifer Scanlon expressed enthusiasm about D’Angelo joining the team, highlighting his track record and the value he is expected to bring to UL Solutions’ operations and growth. D’Angelo himself remarked on the relevance of UL Solutions and its services in today’s rapidly evolving technological landscape, emphasizing the company’s established trust with customers and consumers.

UL Solutions operates globally, offering a suite of services that include testing, inspection, and certification, along with software products and advisory services. The company aims to transform safety, security, and sustainability challenges into opportunities for its customers across more than 110 countries. The UL Mark, a symbol of trust, underscores the company’s commitment to advancing safety and supporting product innovation and sustainable business growth. Based on current trading multiples, InvestingPro analysis indicates the stock is trading at a premium to its Fair Value. Subscribers can access 5 additional ProTips and comprehensive financial metrics to better understand the company’s valuation and growth prospects.

This announcement is based on a press release statement from UL Solutions Inc.

In other recent news, UL Solutions Inc. announced an increase in its quarterly dividend to $0.13 per share, representing a 4% rise from the previous rate, bringing the annual dividend to $0.52 per share. The new dividend is set to be distributed on March 10, 2025, to shareholders of record by February 28, 2025. In another development, Stifel analysts raised their price target for UL Solutions to $59, maintaining a Buy rating on the stock. The analysts emphasized UL Solutions’ potential to leverage long-term growth trends across its business sectors and expressed confidence in the company’s ability to meet its 2025 guidance. Additionally, UL Solutions announced upcoming changes to its board of directors, with Vikram Kini nominated for election at the next annual meeting, while Director Frank Coyne will not seek re-election due to the board’s retirement policy. Director Lisa Lambert has also decided not to stand for re-election for personal reasons. The board will reduce its number of members from 13 to 12, effective at the annual meeting. These recent developments reflect UL Solutions’ strategic adjustments and financial outlook.

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