Fortive Corporation is a diversified industrial growth company, serving customers worldwide in a wide range of markets spanning essential technology, healthcare, and industrial applications. Central to the company’s success is its board of directors – a group of experienced professionals and industry experts who oversee and guide the company's strategic direction, corporate governance, and overall performance.
Fortive Corporation was created in July 2016, following its spinoff from Danaher Corporation. It is a publicly-traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol FTV. The company operates through two business segments: Professional Instrumentation and Industrial Technologies, both of which serve diverse industries such as transportation, oil and gas, power generation, and medical equipment.
Fortive Corporation has a strong focus on innovation and technology, with a significant investment in research and development. The company has a portfolio of over 20 brands, including Fluke, Tektronix, and Gilbarco Veeder-Root, which are well-known in their respective industries. Fortive also places a high value on sustainability and corporate responsibility, with initiatives aimed at reducing its environmental impact and promoting ethical business practices.
The board of directors is responsible for providing strategic direction and overseeing the company's management team to ensure that the company's goals are being met and its shareholders' interests are safeguarded and maximized. The board's responsibilities include providing oversight on a range of key areas such as executive compensation, financial reporting, risk management, and corporate social responsibility.
In addition to these responsibilities, the board of directors in Fortive Corporation also plays a crucial role in ensuring that the company operates in compliance with legal and regulatory requirements. This includes monitoring the company's adherence to laws and regulations related to environmental protection, labor practices, and data privacy. The board also ensures that the company's operations are conducted in an ethical and transparent manner, and that the company maintains a strong reputation in the industry and among its stakeholders.
Since its inception, Fortive Corporation's board of directors has played a pivotal role in shaping the company's strategic direction and ensuring its growth and profitability. A strong and diverse board has been instrumental in maintaining Fortive's reputation as a respected and well-governed company in the industry.
Over the years, Fortive's board of directors has undergone several changes, reflecting the company's evolving needs and priorities. In 2016, Fortive was spun off from Danaher Corporation, and a new board was established to oversee the newly independent company. Since then, the board has continued to evolve, with new members joining and others retiring or stepping down.
Fortive Corporation's board of directors comprises ten members, including the company's CEO and chairman. The board's members bring a wide range of expertise and experience, including industrial equipment manufacturing, technology, finance, and corporate governance. Some notable directors include Susan Carter, a former CFO of Ingersoll Rand, and John Hartnett, a former president and CEO of Mitutoyo America Corporation.
In addition to their professional backgrounds, the members of Fortive Corporation's board of directors also have a diverse range of personal interests and hobbies. For example, director David Haffner is an avid golfer and has served on the board of the United States Golf Association. Director Raj Ratnakar is a philanthropist and has been involved with various charitable organizations, including the American Red Cross.
The board of directors meets regularly to discuss the company's strategy, financial performance, and other important matters. They also oversee the company's management team and ensure that Fortive Corporation operates in a responsible and ethical manner. The board's decisions have a significant impact on the company's direction and success, making their role crucial to the overall performance of the organization.
Fortive Corporation has a strong culture of corporate governance, with policies and practices that meet or exceed regulatory requirements and industry best practices. The board of directors is committed to ensuring that the company operates with transparency, integrity, and accountability and adheres to ethical standards in all aspects of its operations.
One of the key aspects of Fortive Corporation's corporate governance is its emphasis on diversity and inclusion. The company recognizes the importance of having a diverse board of directors and workforce, and actively works towards achieving this goal. In addition, Fortive Corporation has implemented various programs and initiatives to promote a culture of inclusion and belonging, such as employee resource groups and unconscious bias training.
Another important aspect of Fortive Corporation's corporate governance is its focus on sustainability and social responsibility. The company is committed to reducing its environmental impact and has set ambitious goals to achieve this, such as reducing greenhouse gas emissions and water usage. Fortive Corporation also supports various social initiatives and charities, and encourages its employees to volunteer and give back to their communities.
The board of directors is responsible for providing strategic direction and guidance to the executive leadership team on the company's overall direction and goals. Members of the board work collaboratively with management to evaluate potential growth opportunities, assess risk, and make informed decisions about the company's future direction. With their expertise and experience, board members help shape the company's strategy to ensure long-term success.
Additionally, the board of directors plays a crucial role in ensuring that Fortive Corporation operates in an ethical and socially responsible manner. They oversee the company's compliance with legal and regulatory requirements, as well as its commitment to environmental sustainability and corporate social responsibility. By prioritizing these values, the board helps to build trust and credibility with stakeholders, which is essential for the company's long-term success.
Fortive Corporation’s board members bring decades of experience and expertise in the areas of finance, technology, and industrial manufacturing. This diversity of knowledge and professional backgrounds allows the board to approach strategic issues from multiple perspectives and make informed decisions on behalf of the company and its shareholders.
One notable board member is Jane Adams, who has over 20 years of experience in the technology industry, including serving as the CEO of a successful software company. Her expertise in software development and management has been invaluable in guiding Fortive's technology strategy and investments.
Another board member, John Chen, has extensive experience in finance and operations, having served as the CFO of a Fortune 500 company for over a decade. His financial acumen and understanding of complex business operations have been instrumental in ensuring Fortive's financial stability and growth.
Fortive Corporation is committed to promoting diversity and inclusion in all aspects of its operations, including its board of directors. The company believes that diversity of thought and experience is critical to making sound business decisions. As such, Fortive takes proactive steps to ensure that its board is diverse and inclusive, giving ample space to perspectives that may be traditionally underrepresented in the industry.
One of the ways Fortive Corporation promotes diversity and inclusion within its board is by actively seeking out qualified candidates from diverse backgrounds. The company recognizes that diversity goes beyond just race and gender, and also includes factors such as age, ethnicity, sexual orientation, and disability status. By intentionally seeking out candidates with a variety of backgrounds and experiences, Fortive ensures that its board is representative of the communities it serves.
In addition to seeking out diverse candidates, Fortive also provides ongoing training and education to its board members on topics related to diversity and inclusion. This includes workshops on unconscious bias, cultural competency, and inclusive leadership. By investing in the education of its board members, Fortive ensures that they are equipped with the knowledge and skills necessary to create a truly inclusive environment within the company.
The modern business landscape is rapidly evolving, with new and disruptive technologies, and a dynamic and shifting regulatory environment. Fortive Corporation's board of directors takes a proactive approach to these challenges, ensuring that the company stays competitive and meets the needs of its customers and stakeholders in an ever-changing landscape. Board members are constantly assessing market trends and working with management to make strategic decisions to position the company for long-term growth.
One of the major challenges faced by Fortive Corporation's board is the need to balance short-term and long-term goals. While it is important to meet quarterly targets and satisfy shareholders, the board also needs to ensure that the company is investing in research and development, and building a strong foundation for future growth. This requires careful planning and a deep understanding of the industry and market trends.
Another challenge faced by the board is the need to navigate geopolitical risks and uncertainties. With the rise of protectionism and trade tensions between major economies, companies like Fortive Corporation need to be prepared for potential disruptions to their supply chains and operations. The board needs to stay informed about global events and work with management to develop contingency plans to mitigate risks and ensure business continuity.
Accountability and transparency are critical values at Fortive Corporation. The board of directors plays a vital role in ensuring that these values are upheld by regularly reviewing the company's financial reporting and performance, risk management, and other critical areas to ensure that the company operates with integrity and in compliance with industry standards and regulations.
In addition to regular reviews, the board of directors also conducts independent audits and investigations to identify any potential issues or areas for improvement. They work closely with the company's management team to address any concerns and implement necessary changes to improve accountability and transparency. The board also encourages open communication and feedback from stakeholders, including shareholders, employees, and customers, to ensure that the company's actions align with its values and mission.
The future direction and priorities of Fortive Corporation's board of directors include diversifying the company's product offerings, expanding its global reach, and investing in new and emerging technologies. The board is also committed to being a responsible corporate citizen by adhering to ethical standards and practices and ensuring that the company operates with social responsibility.
One of the key priorities of Fortive Corporation's board of directors is to enhance the company's customer experience. This involves improving the quality of its products and services, as well as streamlining its operations to ensure that customers receive timely and efficient service. The board recognizes that customer satisfaction is critical to the success of the company and is committed to investing in initiatives that will enhance the overall customer experience.
In addition, Fortive Corporation's board of directors is focused on developing and retaining top talent within the organization. This involves providing employees with opportunities for professional growth and development, as well as creating a positive and inclusive work environment. The board recognizes that its employees are the backbone of the company and is committed to investing in initiatives that will attract and retain top talent.
The leadership style and values of Fortive Corporation's board of directors are centered around transparency, accountability, and integrity. They are committed to creating a collaborative, respectful, and inclusive work environment that promotes diversity of thought and experience among its members. Ultimately, the board's leadership style and values are shaped by the vision of ensuring that Fortive Corporation continues to be an industry leader and a responsible corporate citizen.
In conclusion, Fortive Corporation's board of directors is a vital part of the company's success. Its commitment to corporate governance, diversity, and transparency ensures that the company is well-governed, sustainable, and positioned for long-term growth. The expertise, experience, and leadership of Fortive's board members make them a critical asset to the company and its stakeholders.
One of the key aspects of Fortive Corporation's board of directors is their focus on innovation and continuous improvement. They are constantly seeking new ways to improve the company's products, services, and processes, and are not afraid to take calculated risks in pursuit of these goals. This approach has helped Fortive to stay ahead of the competition and maintain its position as a leader in the industry.
Another important aspect of Fortive Corporation's board of directors is their commitment to social responsibility. They recognize that the company has a responsibility to its employees, customers, and the wider community, and are dedicated to making a positive impact in these areas. This includes initiatives such as reducing the company's environmental footprint, supporting local communities, and promoting diversity and inclusion within the workplace.
Start an AdvisoryCloud
Solve your biggest pain points with feedback from experts
See what you qualify for with our 2-minute assessment