American Standard Companies Inc., the parent company of HVAC equipment maker Trane, announced that its Board of Directors has voted to extend the employment agreement of Chairman and CEO Fred Poses for 1 year through December 2007.
On Oct. 7, 1999, the Board elected Poses as chairman and CEO and, in 2002, extended his tenure to December 2006. Mr. Poses will reach the company's mandatory retirement age in September 2007.
