Schaffer joins Allegion board

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Monday, April 21, 2014

SWORDS, Ireland—On April 9, 2014, the Board of Directors of Allegion appointed Dean I. Schaffer to the Board of Directors. Schaffer was also appointed a member of the Audit and Finance Committee and the Corporate Governance and Nominating Committee. Schaffer will receive an annual retainer fee of $210,000. In addition, he received an initial grant of restricted stock units on April 9, 2014 having a value of $50,000.

Schaffer is a former partner of Ernst & Young.

“We are pleased to welcome Dean to the Board and look forward to benefiting from his experience and insights as we continue to implement the company's strategic objectives,” Dave Petratis, chairman and CEO of Allegion, said in a prepared statement. “He brings valuable expertise to the Board of Directors in financial reporting and governance, and will play a role in the development of our tax and growth strategies.”

Allegion’s brands include Schlage and Von Duprin.