Allegion Board of Directors Elects Lauren B. Peters as Chair

The Board of Directors (Board) of Allegion plc (NYSE:ALLE), a leading global security products and solutions provider, has elected Lauren B. Peters as its next chair, effective Sept. 11, 2024. Peters has served as a member of Allegion's Board since 2021 and will succeed Kirk S. Hachigian, who is retiring from the Board at the end of his term in June 2025.

Peters is former executive vice president and chief financial officer of Foot Locker, Inc., where she built a track record of expanding profits and implementing innovative solutions while also leading major acquisitions, integrations and strategic investments. With deep expertise in positioning global, publicly held companies for growth, Peters currently serves as a board member for La-Z-Boy and Victoria's Secret, in addition to Allegion.

"Stepping into the chair role is an incredible honor," Peters said. "Allegion is an innovative industry leader with a team that's deeply committed to helping create safe and accessible environments around the world. We have a strong board with diverse skillsets that's excited to support this meaningful work and Allegion's future growth. I'm proud to be a part of it."

"Lauren's knowledge of our business and strategic acumen is an asset to Allegion and will make her a highly effective chair," Allegion President and CEO John H. Stone said. "We're grateful for her dedication and look forward to continuing our work together."

"We're also grateful for Kirk's leadership. In his 10 years with Allegion, Kirk has served as our first board member, our first lead director and our first independent chair. Thank you, Kirk, for guiding Allegion in our first decade of growth."

With Peters' appointment as Board chair, she will also chair the Corporate Governance and Nominating Committee. In addition, Allegion Board Member Susan L. Main replaces Peters as the Audit and Finance Committee chair as of Sept. 11, 2024.

About Allegion

Allegion (NYSE:ALLE) is a global pioneer in seamless access, with leading brands like CISA^®, Interflex^®, LCN^®, Schlage^®, SimonsVoss^® and Von Duprin^®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $3.7 billion in revenue in 2023, and its security products are sold around the world. For more, visit www.allegion.com.

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