Eaton said the Board expanded its size to 11 members on August 8, 2024 and elected Paulo Ruiz as a director. He will serve as President and Chief Operating Officer of Eaton from September 2, 2024.

1. 01

   Eaton said the Board expanded its size to 11 members on August 8, 2024 and elected Paulo Ruiz as a director. He will serve as President and Chief Operating Officer of Eaton from September 2, 2024.

2. 02

   The company said Paulo Ruiz will be appointed chief executive officer of Eaton on June 1, 2025, and Craig Arnold will retire on May 31, 2025, having reached the mandatory retirement age of 65.

3. 03

   Eaton said Ruiz's base salary will increase to $1,000,000 per year, a portion of which will be allocated to director's fees under Irish regulations. His short-term incentive target opportunity will be 125% of his base salary, pro-rated through the end of 2024.

4. 04

   The company said Ruiz, 49, has served as President and Chief Operating Officer of the Industrial Sector since July 2022, and was chief executive officer of Dresser–Rand at Siemens before joining Eaton in 2019. Gregory R. Page will become non-executive chair on June 1, 2025.

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