SHELTON, Conn. — Hubbell Incorporated (“Hubbell” or the “Company”) reported that David G. Nord has announced his retirement as Chief Executive Officer of Hubbell Incorporated effective October 1, 2020. In connection with Nord’s retirement, the Hubbell Incorporated Board of Directors also announced that Gerben W. Bakker will succeed Nord as President and Chief Executive Officer, effective October 1, 2020. Bakker will also join the Hubbell Board at that time. These leadership changes are the product of the Board’s executive succession planning process and its transition planning with both Nord and Bakker. Nord will continue to serve as Hubbell’s Executive Chairman of the Board until the Company’s 2021 annual meeting in May to provide his continuing guidance and expertise, as well as to ensure a smooth transition.
Bakker was named President and Chief Operating Officer (COO) of Hubbell in June of 2019, after serving as President of the Power Systems group since 2014. During his tenure as COO, Bakker introduced a new operating rhythm to the enterprise while executing on Hubbell’s strategic initiatives and partnering closely with Nord to guide Hubbell through the COVID-19 pandemic. As President of Power Systems, Bakker oversaw a multi-year period of strong performance, building an industry-leading electrical T&D components business and leading many key acquisitions, including Aclara, in 2018. Bakker began his career with Hubbell Incorporated in 1988 as a manufacturing engineer with Hubbell Wiring Systems and has held positions of increasing leadership around the world in both Hubbell’s utility and electrical segments.
“I am proud of all that we have accomplished together during my tenure at Hubbell, and I am confident that this is the right time for this transition,” Nord commented. “I know the Company is in good hands with Gerben as its new CEO. The Hubbell Board of Directors selected Gerben for this role because of his proven leadership, strategic vision, and ability to deliver strong results for the enterprise. He is a strong, highly capable leader who I am confident will continue to build on a proven track record of success for Hubbell’s customers, shareholders and employees.”
Anthony Guzzi, Lead Independent Director of Hubbell, said “On behalf of the entire Board, I would like to thank Dave for his 15 years of service to Hubbell. Dave’s leadership enabled Hubbell to solve critical infrastructure problems for its customers and deliver strong financial returns for its shareholders, while simplifying Hubbell’s capital structure and building a strong leadership team for the future. Dave led Hubbell through a period of significant growth by overseeing a well-structured and strategic acquisition program that was rigorous, balanced and enhanced Hubbell’s competitive position across a variety of sectors, including establishing its leadership position within the utility industry. Most recently, Dave’s leadership in navigating Hubbell through the ongoing COVID-19 pandemic has been exceptional, and I am highly confident that the strategic, proactive response of the Company under his stewardship will result in a stronger Hubbell over the long term. I would like to congratulate Gerben on his new role and look forward to him building on Hubbell’s proud tradition as he guides the Company into the future.”
“It is truly a privilege to be named to this position,” said Bakker. “Throughout my more than 30 year career at Hubbell, I have experienced firsthand the strength of our people, products and long-term customer relationships. I look forward to building on the strong foundation that Dave established for Hubbell and continuing to deliver for Hubbell’s many stakeholders.”
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