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    Craig Arnold

    Chairman and Chief Executive Officer at Eaton Corporation PLC
    Board
    Since June 1, 2016
    Age
    64 years
    Tenure
    Joined ETN on 06-01-2000 as Senior Vice President and Group Executive of the Fluid Power Group, later promoted to Vice Chairman and Chief Operating Officer of the Industrial Sector, then to President and Chief Operating Officer, and finally assumed the role of Chairman and Chief Executive Officer on 06-01-2016.

    Also at Eaton Corporation PLC

    AW
    Adam Wadecki
    Senior Vice President and Controller
    PR
    Paulo Ruiz
    President and Chief Operating Officer

    About

    Craig Arnold has dedicated over two decades to ETN, leading the organization through significant transformational milestones. His leadership at ETN has been characterized by a focus on operational excellence and strategic realignment, paving the way for growth in areas such as electrification, digitalization, and sustainability.

    Throughout his career at the company, he has demonstrated a strong commitment to innovation and portfolio transformation, which has helped reinforce ETN’s competitive edge in the intelligent power management industry. His journey reflects a series of progressive leadership roles, culminating in his current position as Chairman and Chief Executive Officer.

    In addition to his executive responsibilities, he actively contributes to broader industry and community initiatives through board memberships and advisory roles. His involvement with various organizations underscores his commitment to both corporate governance and community development.

    Craig Arnold is also preparing for retirement on 05-31-2025, marking the end of an era at ETN as he steps aside upon reaching the company’s mandatory retirement age.

    $ETN Performance Under Craig Arnold

    Past Roles

    OrganizationRoleDate RangeDetails
    Eaton Corporation President and Chief Operating Officer Until June 2016 Former role following promotion
    Eaton Corporation Vice Chairman and Chief Operating Officer of the Industrial Sector Until August 2015 Held prior to latest role
    Eaton Corporation Senior Vice President and Group Executive of the Fluid Power Group Joined in 2000 Initial role at ETN

    External Roles

    OrganizationRoleDate RangeDetails
    Medtronic plc Board Member N/A Publicly traded company domiciled in Ireland
    The Business Roundtable Board Member N/A N/A
    University Hospitals Health System Board Member N/A N/A
    The Greater Cleveland Partnership Director N/A N/A
    United Way of Greater Cleveland Director N/A N/A
    The Business Council Member N/A N/A
    The Salvation Army of Greater Cleveland Advisory Board Member N/A N/A

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,450,000 AnnualIncludes a 3.57% merit increase applied on March 1, 2023, from an original amount of $1,441,667.
    All Other Compensation$234,609 AnnualTotal includes various components; specific breakdown details are not provided.

    Performance Compensation

    Data from  FY 2023

    Short-Term Incentive (STI)

    Metric [Unit]**TargetActualDetails
    Adjusted EPS (USD)$8.24$9.12Excludes acquisition, divestiture, restructuring charges.
    Adjusted OCF (Million USD)$3,400$3,624Includes operating cash flow plus U.S. qualified pension contributions.
    Corporate Performance Factor (%)N/A158%Determined by the Committee based on EPS and OCF goals.
    Individual Performance Factor (%)N/A110%Based on personal performance criteria.
    EIC Target (USD)$2,320,000N/ABase target for STI.
    Final Award (USD)N/A$4,032,160Calculated as EIC Target x 158% x 110% (174% of target).

    Stock Option Exercises

    Metric [Unit]**Details
    Grant DateFebruary 23, 2023
    Grant Date Fair Value (USD)$3,012,084
    Grant Date Stock Price (per share)$172.78
    Number of Options Granted62,000
    Option Exercise Price (USD)$172.78
    Vesting Schedule1/3 vested annually over 2024, 2025, and 2026
    Expiration DateFebruary 23, 2033
    Performance MetricsTime-based vesting; no performance thresholds apply.

    Performance & Restricted Share Unit Vesting

    Metric [Unit]**Details
    Grant DateFebruary 23, 2023
    RSU Grant Date Fair Value (USD)$10,029,689
    Stock Option Award Fair Value (USD)$3,012,084
    Vesting ScheduleRSUs vest in approximately equal annual installments over three years; dividend equivalents are paid upon vesting.
    Performance Metrics for PSUsBased on Total Shareholder Return (TSR) relative to a peer group, with awards ranging from 0% to 200% of the target.
    Long-Term Incentive TargetsESIP Target: $5,625,000; RSU and Stock Option Targets: $2,812,500 each.