Carrier Global Management

Management criteria checks 2/4

Carrier Global's CEO is Dave Gitlin, appointed in Jun 2019, has a tenure of 4.83 years. total yearly compensation is $17.70M, comprised of 7.8% salary and 92.2% bonuses, including company stock and options. directly owns 0.078% of the company’s shares, worth MX$751.04M. The average tenure of the management team and the board of directors is 3.8 years and 4 years respectively.

Key information

Dave Gitlin

Chief executive officer

US$17.7m

Total compensation

CEO salary percentage	7.8%
CEO tenure	4.8yrs
CEO ownership	0.08%
Management average tenure	3.8yrs
Board average tenure	4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Dave Gitlin's remuneration changed compared to Carrier Global's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$1b
Dec 31 2023	US$18m	US$1m	US$1b
Sep 30 2023	n/a	n/a	US$1b
Jun 30 2023	n/a	n/a	US$2b
Mar 31 2023	n/a	n/a	US$3b
Dec 31 2022	US$13m	US$1m	US$4b
Sep 30 2022	n/a	n/a	US$4b
Jun 30 2022	n/a	n/a	US$3b
Mar 31 2022	n/a	n/a	US$3b
Dec 31 2021	US$15m	US$1m	US$2b
Sep 30 2021	n/a	n/a	US$2b
Jun 30 2021	n/a	n/a	US$2b
Mar 31 2021	n/a	n/a	US$2b
Dec 31 2020	US$15m	US$958k	US$2b
Sep 30 2020	n/a	n/a	US$2b
Jun 30 2020	n/a	n/a	US$1b
Mar 31 2020	n/a	n/a	US$2b
Dec 31 2019	US$8m	US$967k	US$2b
Dec 31 2018	US$6m	US$900k	US$3b
Dec 31 2017	US$10m	US$813k	US$1b

Compensation vs Market: Dave's total compensation ($USD17.70M) is above average for companies of similar size in the MX market ($USD5.91M).

Compensation vs Earnings: Dave's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Dave Gitlin (54 yo)

4.8yrs

Tenure

US$17,695,200

Compensation

Mr. David L. Gitlin, also known as Dave, is Independent Director of The Boeing Company from June 21, 2022. He serves Chief Executive Officer of Carrier Global Corporation since June 2019 & has been its Dir...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
David Gitlin	Chairman & CEO	4.8yrs	US$17.70m	0.078% $ 751.0m
Patrick Goris	Senior VP & CFO	3.4yrs	US$7.51m	0.0082% $ 79.4m
Kevin O'Connor	Senior VP & Chief Legal Officer	4.3yrs	US$3.53m	0.0073% $ 70.7m
Jurgen Timperman	President of Fire & Security	5.2yrs	US$6.26m	0.0043% $ 41.6m
Timothy White	President of Refrigeration Segment	2.7yrs	US$3.39m	0.0015% $ 14.3m
Adrian Button	Senior Vice President of Operations	1.3yrs	no data	no data
Hakan Yilmaz	Senior VP & CTO	2.3yrs	no data	no data
Samuel Pearlstein	Vice President of Investor Relations	no data	no data	no data
Milena Oliveira	Senior VP and Chief Marketing & Communications Officer	1.3yrs	no data	no data
Nadia Villeneuve	Senior VP & Chief Human Resources Officer	9.3yrs	no data	0.012% $ 117.8m
Bobby George	Senior VP & Chief Digital Officer	no data	no data	no data
Ajay Agrawal	Senior VP of Global Services & Business Development and Chief Strategy Officer	4.5yrs	no data	0.011% $ 110.3m

3.8yrs

Average Tenure

50.5yo

Average Age

Experienced Management: CARR *'s management team is considered experienced (3.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Gitlin	Chairman & CEO	4yrs	US$17.70m	0.078% $ 751.0m
Michael McNamara	Independent Director	4yrs	US$330.83k	no data
Jean-Pierre Garnier	Independent Director	4yrs	US$330.86k	0.0020% $ 19.4m
Susan Story	Independent Director	1.3yrs	US$329.14k	no data
Michael Todman	Independent Director	4yrs	US$348.30k	no data
Charles Holley	Independent Director	4yrs	US$340.16k	0% $ 0
Virginia Wilson	Independent Director	4yrs	US$376.67k	no data
Martin Viessmann	Director	less than a year	no data	no data
John Greisch	Lead Independent Director	4yrs	US$347.74k	0.0039% $ 37.9m
Beth Wozniak	Independent Director	2.8yrs	US$310.45k	no data
Aumar Abbassciy	Alternate Director	2.1yrs	no data	no data

4.0yrs

Average Tenure

65.5yo

Average Age

Experienced Board: CARR *'s board of directors are considered experienced (4 years average tenure).

Carrier Global Management

Management criteria checks 2/4

Key information

Recent management updates

Carrier Global Corporation, Annual General Meeting, Apr 18, 2024

Chairman & CEO recently sold Mex$54m worth of stock

Max Viessmann Joins Carrier Global Corporation's Board of Directors

High number of new and inexperienced directors

Carrier Global Corporation Appoints Susan N. Story to its Board of Directors and as Member of Audit and Compensation Committee

High number of new and inexperienced directors

Recent updates

First quarter dividend of US$0.19 announced

Carrier Board of Directors Declares Quarterly Cash Dividend, Payable on May 22, 2024

Carrier Global Corporation to Report Q1, 2024 Results on Apr 25, 2024

Carrier Global Corporation, Annual General Meeting, Apr 18, 2024

Chairman & CEO recently sold Mex$54m worth of stock

Full year 2023 earnings released: EPS: US$1.61 (vs US$4.19 in FY 2022)

New minor risk - Shareholder dilution

Carrier Global Corporation to Report Q4, 2023 Results on Feb 06, 2024

Max Viessmann Joins Carrier Global Corporation's Board of Directors

Haier Smart Home Co., Ltd. (SHSE:600690) agreed to acquire Carrier Refrigeration Benelux B.V. from Carrier Global Corporation (NYSE:CARR) for $640 million.

Carrier Global Corporation Declares Quarterly Cash Dividend, Payable on February 9, 2024

Carrier Global Corporation Provides Sales Guidance for the Year 2023

Carrier Global Corporation Declares Quarterly Cash Dividend, Payable on Nov. 20, 2023

Carrier Global Corporation to Report Q3, 2023 Results on Oct 26, 2023

Carrier Global Corporation Revises Earnings Guidance for the Year 2023

Carrier Global Corporation to Report Q2, 2023 Results on Jul 27, 2023

Carrier Global Corporation Provides Sales Guidance for the Year 2023

Carrier Global Corporation to Report Q4, 2022 Results on Feb 07, 2023

Upcoming dividend of US$0.18 per share

High number of new and inexperienced directors

Carrier Global Corporation Board of Directors Increases Quarterly Dividend by 23%, Payable on February 10, 2023

Carrier Global Corporation Announces Sales Guidance for the Year 2022

Carrier Board of Directors Declares Quarterly Cash Dividend, Payable on November 21, 2022

Carrier Global Corporation to Report Q3, 2022 Results on Oct 27, 2022

Carrier Global Corporation Appoints Susan N. Story to its Board of Directors and as Member of Audit and Compensation Committee

High number of new and inexperienced directors

Carrier Launches Its New Carrier Ecohome Program

Second quarter 2022 earnings released: EPS: US$0.68 (vs US$0.56 in 2Q 2021)

High number of new and inexperienced directors

Carrier Global Corporation to Report Q2, 2022 Results on Jul 28, 2022

High number of new and inexperienced directors

Upcoming dividend of US$0.15 per share

Carrier Board of Directors Declares Quarterly Cash Dividend, Payable on August 10, 2022

High number of new and inexperienced directors

High number of new and inexperienced directors

Carrier Global Corporation Board of Directors Declares Quarterly Cash Dividend, Payable on May 19, 2022

Carrier Global Corporation to Report Q1, 2022 Results on Apr 28, 2022

High number of new and inexperienced directors

Carrier Global Corporation, Annual General Meeting, Apr 14, 2022

Carrier Global Corporation Provides Earnings Guidance for the Year 2022

High number of new and inexperienced directors

Upcoming dividend of US$0.15 per share

President of Fire & Security recently sold Mex$11m worth of stock

Third quarter 2021 earnings released: EPS US$0.54 (vs US$0.85 in 3Q 2020)

Upcoming dividend of US$0.12 per share

Carrier Global Corporation (NYSE:CARR) signed an agreement to acquire nlyte Software Inc.

Carrier Global Corporation (NYSE:CARR) acquired remaining 30% of stake in Guangdong Giwee Group Co., Ltd.

President of HVAC recently sold Mex$106m worth of stock

President of Refrigeration Segment David Appel has left the company

Second quarter 2021 earnings released: EPS US$0.56 (vs US$0.30 in 2Q 2020)

Carrier Launches Its New Wi-Fi-Enabled Smart Air Purifier

Upcoming dividend of US$0.12 per share

Carrier Global Corporation (NYSE:CARR) completed the acquisition of unknown majority stake in Guangdong Giwee Group Co., Ltd. from Quan Zhang and others.

First quarter 2021 earnings released: EPS US$0.44 (vs US$0.11 in 1Q 2020)

Carrier Global Corporation Updates Earnings Outlook for the Full Year 2021

Carrier Global Corporation Launches Abound by Carrier, New Cloud-Native Platform

Watsco, Inc. (NYSE:WSO) and Carrier Global Corporation (NYSE:CARR) signed an agreement to acquire Temperature Equipment Corporation.

President of Fire & Security recently sold Mex$22m worth of stock

Carrier Global Corporation and International WELL Building Institute Agree to Collaborate to Strengthen Global Healthy Buildings Movement

Insider recently sold Mex$2.6m worth of stock

CFO & Senior VP has left the company

Full year 2020 earnings released: EPS US$2.29

Revenue beats expectations

Carrier Global Corporation Announces Chairman Changes

Carrier Global Corporation(NYSE:CARR) dropped from S&P 100

Carrier Global Corporation and Syracuse University Co-Develops an Assessment Tool to Evaluate Buildings for Airborne Pathogen Transmission Risk and Provide Custom Strategies

Carrier Global Corporation Announces Koura Fluorochemicals Joins the Carrier Alliance Program

Carrier Global Corporation to Report Q4, 2020 Results on Feb 09, 2021

Broad-Ocean Motor Joins the Carrier Alliance Supplier Program