Allegion plc has elected Kirk S. Hachigian as its next chairman, effective Jan. 1, 2023. Hachigian has served as a member of the board since Allegion became a standalone company in 2013, and will succeed David D. Petratis, who is retiring from the role as of Dec.

31, 2022. Currently, Hachigian serves as the board's lead director – a position he's held for the majority of his nine-year tenure. He also chairs the board's Corporate Governance and Nominating Committee, a role he will keep as chairman of the board.

In addition to Allegion, Hachigian serves on the board of directors at Paccar Inc. and NextEra Energy Inc. He previously served as chairman of the board at JELD-WEN and was a board member at Cooper Industries Plc. as well as Trane Inc. At JELD-WEN and Cooper Industries, Hachigian also held the roles of president and CEO, lending to his successful track record of creating value for shareholders. With Hachigian's appointment, Allegion has an independent chairman, and all board committees and their chairs are independent.

John H. Stone, who became president and CEO of Allegion in July 2022, is a member of the eight-member board and the only director who is not independent.