Powell Industries, Inc. announced that at its AGM held on February 14, 2024, the shareholders approved election of Mohit Singh as director of the company. As previously disclosed: the board of directors of the company established the age of 75 as the age after which an independent director will not stand for reelection at the end of such director?s then current term (the Policy); and (ii) pursuant to the Policy, John D. White tendered his resignation from the board, effective at the company?s 2024 annual meeting of stockholders (the end of his then current term), which was held on February 14, 2024 (the Annual Meeting). On February 13, 2024, the board accepted Mr. White?s tender of resignation.
Powell Industries, Inc. develops, designs, manufactures and services custom-engineered equipment and systems. The Company distributes, controls and monitors the flow of electrical energy and provides protection to motors, transformers and other electrically powered equipment. Its principal products include integrated power control room substations (PCRs), custom-engineered modules, electrical houses (E-Houses), traditional and arc-resistant distribution switchgear and control gear, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches and bus duct systems. Its products are designed for application voltages ranging from approximately 480 volts to 38,000 volts and are used in oil and gas refining, onshore and offshore oil and gas production, petrochemical, liquefied natural gas (LNG) terminals, pipeline, terminal, mining and metals, light rail traction power, electric utility, pulp and paper and other industrial markets.