Astec Industries, Inc. announced the company?s board of directors appointed Mr. Patrick S. Shannon and Mr. Jeffrey T. Jackson, new independent directors, to the Board effective as of January 18, 2024. Mr. William Bradley Southern, an independent director, informed the Board he will be retiring as a member of the Board effective January 18, 2024. With the election of Mr. Shannon and Mr. Jackson, and the retirement of Mr. Southern, the size of the Board increased to 11 directors, 10 of whom are independent directors.

Mr. Shannon will also serve as a member of the Audit Committee of the Board and Mr. Jackson will serve as a member of the Compensation Committee of the Board. Mr. Shannon served as CFO of Allegion plc, a leading global provider of security products and solutions with annual revenues in excess of $3 billion, following its spinoff from Ingersoll Rand in 2013 until his retirement in 2022. Prior to his role as CFO at Allegion, Mr. Shannon spent 11 years in various finance roles at Ingersoll Rand.

He also previously served as CFO of AGCO Corporation, a global manufacturer of agricultural equipment, for two years after several years of progressive roles in accounting, controls, and international finance. Prior to AGCO, Mr. Shannon was a Senior Auditor for Arthur Andersen LLC. Mr. Jackson is the President and Chief Executive Officer of PGT Innovations Inc. He has been at PGT since 2005 and has held the roles of CFO, Chief Operating Officer and Treasurer.

Prior to PGT, Mr. Jackson held various roles at food and beverage companies, including Hershey and Coca-Cola. Prior to that, he was an Audit Manager with KPMG Peat Marwick LLP.