The Hanover Insurance Group Appoints Richard Lavey as Chief Operating Officer

The Hanover Insurance Group announced the appointment of Richard W. Lavey as Executive Vice President and Chief Operating Officer, effective immediately. In this newly created role, Lavey will be responsible for advancing the company’s business strategy, improving integration between business and technology teams, and continuing to oversee personal lines, small and middle market commercial businesses.

Lavey has been with the company since 2004 and most recently served as Executive Vice President and President of Hanover Agency Markets. His previous roles include Chief Growth Innovation Officer, President of Personal Lines, and Chief Marketing Officer. Prior to joining Hanover, he held leadership positions at The Hartford and The Travelers.

Louisiana-Pacific Appoints Jason Ringblom as President Amid Leadership Changes

On April 2, 2025, the Board of Directors of Louisiana-Pacific Corporation approved the promotion of Jason Ringblom to the newly created position of President, effective April 7, 2025. He will oversee all manufacturing and commercial operations. Ringblom currently serves as Executive Vice President, General Manager of the Siding division. His promotion includes a salary increase to $800,000, a target annual incentive of 90% of base salary, and long-term equity grants totaling $2.7 million.

In connection with an internal reorganization, LP will eliminate the Executive Vice President, General Manager of OSB position, resulting in Jimmy Mason’s departure effective April 7, 2025. Mason will receive severance benefits as outlined in his agreement.

The company also awarded a retention grant of restricted stock units valued at $2.25 million to CFO Alan J.M. Haughie, vesting fully in April 2028, contingent on continued employment.

Insight Enterprises Board Member Alexander Baum to Retire at 2025 Annual Meeting

Insight Enterprises announced that board member Alexander Baum will retire and not seek re-election at the company’s 2025 annual meeting.

Baum will continue to serve until that time.

His departure is not due to any disagreement with the company.

Following his retirement, the board will reduce its size from 12 to 10 members.

The company has also entered into an agreement with ValueAct Capital Management, continuing to share confidential information and collaborate on strategic matters.

Baum, who is associated with ValueAct, expressed appreciation for his time on the board and confidence in Insight’s transformation.

Insight Enterprises, Inc. (NASDAQ: NSIT) reported its financial results for the fourth quarter and full year ended December 31, 2024.

Key highlights include:

- **Fourth Quarter**: Gross profit increased 1% year-over-year to $439.6 million, with a gross margin expansion of 170 basis points to a record 21.2%. However, consolidated net earnings decreased by 59%, falling to $37.0 million, and diluted earnings per share decreased by 59% to $0.99.
- **Full Year**: Gross profit increased 6% to $1.8 billion, with gross margin expanding by 210 basis points to a record 20.3%. However, consolidated net earnings for the year decreased by 11% to $249.7 million, with diluted earnings per share decreasing by 13% to $6.55.
- **Adjusted Results**: Adjusted EBITDA for Q4 decreased by 11%, but increased by 4% for the full year. Adjusted diluted earnings per share for Q4 decreased by 11% to $2.66, while for the full year it remained flat at $9.68.
- **Sales Performance**: For the fourth quarter, net sales decreased 7% year-over-year to $2.1 billion, while net sales for the full year decreased by 5% to $8.7 billion.
- **Cash Flow**: Operating cash flow for the fourth quarter was $215.1 million, and for the full year it reached $632.8 million.

Despite the decline in earnings, the company achieved a record gross margin and strong cash flow, benefiting from growth in its cloud solutions and Insight Core services. CEO Joyce Mullen highlighted that the macroeconomic environment influenced client investment decisions but emphasized the company's progress in key growth areas.

Ingersoll Rand Appoints Michelle Swanenburg to Board of Directors

Ingersoll Rand has announced the appointment of Michelle Swanenburg to its Board of Directors, effective immediately. Swanenburg currently serves as the head of Human Resources at T. Rowe Price, where she is also part of several strategic and governance committees. With over two decades of experience in human capital management, she brings extensive expertise in organizational culture, talent development, and corporate governance.

Her addition is expected to support Ingersoll Rand’s talent-focused strategies as the company continues to scale globally. Prior to joining T. Rowe Price, Swanenburg was the head of HR at Oaktree Capital Management and has served on multiple nonprofit and academic boards.

CEO Vicente Reynal expressed confidence in Swanenburg’s ability to enhance workforce experiences and reinforce the company's commitment to its people.

Ingersoll Rand delivers mission-critical flow creation and industrial solutions worldwide and is listed on the NYSE under the symbol IR.

Ingersoll Rand announces resignation of Board member Julie A. Schertell

On March 27, 2025, Julie A. Schertell informed Ingersoll Rand Inc. of her decision to resign from the company’s Board of Directors, including her roles on the Nominating and Corporate Governance Committee and the Sustainability Committee. The resignation became effective the same day.

The company confirmed that Ms. Schertell’s decision was not due to any disagreement with Ingersoll Rand, its management, or other Board members.

Garmin Adds AIS Warning Messaging to Chartplotters for Enhanced Boating Safety

Garmin has introduced a new AIS (Automatic Identification System) warning messaging feature in its latest marine software update, now available for select GPSMAP and ECHOMAP chartplotters. This feature allows boaters to receive real-time text alerts from AIS-capable devices, enhancing situational awareness and helping prevent collisions.

The update enables chartplotters to display AIS Message Types 12 and 14, which are used to broadcast safety messages regarding floating hazards or protected areas, such as seasonal zones for North Atlantic right whales. These alerts appear directly on the chartplotter screen, supplementing existing AIS target data.

Compatible devices include various models in the GPSMAP and ECHOMAP Ultra/UHD2 touchscreen series, and require a connected AIS-capable device like the AIS 800 transceiver or VHF 215 AIS marine radio. The update is free and can be installed through the ActiveCaptain mobile app or Garmin Express.

This enhancement further strengthens Garmin’s commitment to marine safety and innovation, reinforcing its position as the top marine electronics manufacturer globally.

Garmin Launches vívoactive 6 Smartwatch with Enhanced Health, Fitness, and Connectivity Features

Garmin unveiled its latest smartwatch, the vívoactive® 6, on April 1, 2025, showcasing a brighter AMOLED display, extended battery life of up to 11 days, and a comprehensive suite of health, fitness, and smart features. Designed for everyday wellness and active lifestyles, vívoactive 6 aims to help users better understand their bodies through features such as Body Battery™, HRV status, Pulse Ox, stress tracking, and sleep coaching.

The new smartwatch includes over 80 built-in sports apps, guided workouts, and adaptive training plans via Garmin Coach. Additional tools like PacePro™, running power metrics, and workout recovery insights support performance optimization. Smart features include text and call notifications, Garmin Pay™, and downloadable music from Spotify, Amazon Music, and Deezer.

With safety features like incident detection and location sharing, vívoactive 6 is available in four color options and priced at $299.99. It will be available for purchase on Garmin.com starting April 4.

Garmin fēnix Smartwatches Assist Groundbreaking Human Spaceflight Research in Fram2 Mission

Garmin announced its fēnix® smartwatches are playing a central role in monitoring crew health aboard the Fram2 mission—the first human spaceflight launched into polar orbit. The all-civilian crew is wearing “space-ready” fēnix watches to help researchers understand the effects of space travel on physical and mental well-being.

Partnering with the Translational Research Institute for Space Health (TRISH) at Baylor College of Medicine, the mission leverages Garmin’s robust health-tracking features—heart rate, Pulse Ox, Body Battery™ and more—on a single long-lasting charge. These biometrics will be added to TRISH’s EXPAND database to support medical condition detection and behavioral health research during space missions.

Garmin Health’s API and SDK are also allowing real-time integration of wearable data into scientific applications, underscoring the company's growing role in digital health and space medicine innovation.

Fram2 marks the second private spaceflight utilizing Garmin wearable technology and the first to enter polar orbit.

GARMIN INTRODUCES GARMIN CONNECT+ WITH PERSONALIZED AI HEALTH AND FITNESS INSIGHTS

Garmin has launched Garmin Connect+, a premium subscription service within its Garmin Connect app, aimed at offering more personalized health and fitness features. Announced on March 27, 2025, the new plan includes advanced tools such as AI-powered Active Intelligence insights, expert coaching, live workout feedback, expanded safety tracking, and exclusive challenges.

The platform’s new AI system delivers tailored suggestions based on real-time user data, becoming more customized over time. Additional features include a performance dashboard for tracking long-term trends, enhanced LiveTrack options for real-time location sharing during activities, and unique social challenges.

Garmin Connect+ is available with a 30-day free trial, followed by a $6.99 monthly or $69.99 annual subscription. All existing features in Garmin Connect remain free to users. The launch reflects Garmin’s continued focus on innovation and supporting users in achieving their health and fitness goals through deeper data insights and coaching.

Garmin Ltd. reported strong financial results for the fourth quarter and full year of 2024, achieving record consolidated revenue of $6.3 billion, a 20% increase from the prior year. Gross margin expanded to 58.7%, while operating income rose 46% to $1.59 billion. Fourth-quarter revenue grew 23% year-over-year to $1.82 billion, with significant growth in the fitness and outdoor segments. The company shipped over 300 million units since inception and launched innovative new products, including the Approach R50 golf launch monitor and Descent X50i dive computer. Garmin enters 2025 with strong momentum and plans multiple product launches.

FIS Partners with Bilt to Launch Premium Payback Rewards at Checkout

FIS has announced that its Premium Payback solution will be integrated with Bilt's rewards program to allow Bilt Mastercard holders to redeem their Bilt Points directly at participating merchants' checkouts. This integration marks a new step in real-time rewards redemption, with a broader rollout planned for all eligible Bilt Members in Q3 2025.

The Premium Payback system enables cardholders to instantly use loyalty points during a transaction, offering immediate savings and eliminating the need for app downloads or delays. According to FIS, this can enhance the payment experience and deepen customer loyalty by connecting card issuers and merchants through a streamlined redemption process.

Bilt, launched in 2021, converts everyday neighborhood and housing-related spending into rewards. Through this partnership, Bilt members can expect expanded options to use their points for in-store purchases.

FIS notes that loyalty programs are increasingly important in today’s economic climate. According to a 2024 survey from Snappy, 76% of Americans are willing to spend more with brands that offer effective loyalty programs. FIS’s Premium Payback aims to meet these expectations by delivering seamless, point-of-sale rewards.

This new collaboration with Bilt adds to a series of recent wins for FIS’s Loyalty division and highlights its broader goal to innovate how the world pays, banks, and invests.

FIS Launches Securities Matching Platform to Boost U.S. Market Efficiency

FIS officially launched its Securities Finance Matching Platform in the U.S., following completion of its SEC filing process. This cloud-native, smart automation solution is designed to streamline the matching process for broker-dealers by identifying optimal matches between securities lenders and borrowers—prioritizing efficiency, cost-effectiveness, and risk management.

Originally introduced in the U.K. in 2024, the platform now provides U.S. broker-dealers with an alternative to existing systems, reducing single-point-of-failure risk in a vital sector of the capital markets. The system evaluates variables such as rebate rates, capital requirements, and counter-party patterns to deliver fast, low-cost match outcomes.

FIS Capital Markets head Nasser Khodri emphasized the platform's potential to reduce operational friction and support scaling trade volumes in the face of tighter margins. The platform is part of the broader FIS Securities Finance Suite and will be operated in the U.S. through FIS Brokerage & Securities Services LLC, a FINRA and SIPC member.

FIS WINS TWO AWARDS FOR INNOVATION IN TREASURY MANAGEMENT AT 2025 TMI AWARDS

FIS has earned two major honors at the 2025 Treasury Management International Innovation & Excellence Awards. The company received the "Best Cash & Treasury Management Solution" award for its Integrity Edition of Treasury and Risk Manager, and the "Solution Innovation in AI" award for its newly launched Treasury GPT tool.

The Integrity platform offers cloud-native technology that provides treasurers with real-time cash visibility and robust risk mitigation through integration with banking, trading, and business systems. Treasury GPT, developed in collaboration with Microsoft using Azure OpenAI Service, is the first generative AI tool specifically for treasury management, offering insights on system configuration, product use, and best practices.

The awards recognize FIS’ continued innovation in financial technology to help businesses effectively manage liquidity and adapt to modern challenges. According to PwC’s 2023 Global Treasury Survey, real-time visibility and accurate forecasting remain top priorities for treasurers and CFOs globally.

FIS is a Fortune 500 financial technology company based in Jacksonville, Florida, offering solutions that help clients manage payments, banking, and investment needs.

Prudential Appoints John Cai as Regional CEO as Solmaz Altin Prepares to Depart

Prudential plc announced the appointment of John Cai as Regional CEO for Malaysia, Indonesia and Vietnam, as well as Agency, effective 7 April 2025. The change follows the planned departure of Solmaz Altin, Regional CEO for Growth Markets, Health and Agency, who is returning to Europe for family reasons.

John Cai will be based in Hong Kong and report to Prudential CEO Anil Wadhwani. He joins with over 20 years of leadership experience across Asia, including senior roles at AIA and AXA Hong Kong.

Solmaz Altin, who will stay on as an advisor until the second half of 2025, played a key role in driving Prudential’s growth strategy and business transformation. His contributions included strengthening operations in Indonesia, leading the technology transformation, and launching the Health business.

With Solmaz’s departure, the regional structure has been adjusted:
- John Cai will lead Malaysia, Indonesia and Vietnam and oversee Agency.
- A new Regional CEO covering India, Africa, the Philippines, Cambodia, Laos and Myanmar, with responsibility for Health, will be named later.
- Dennis Tan will continue as Regional CEO for Singapore and Thailand, with a focus on Partnership Distribution.
- Angel Ng remains Regional CEO for Greater China, overseeing Customer and Wealth.

Prudential plc operates in 24 markets across Asia and Africa, offering life and health insurance and asset management services. It is listed on the stock exchanges of Hong Kong, London, Singapore and New York.

PRUDENTIAL PLC ANNOUNCES JOINT VENTURE WITH HCL GROUP FOR HEALTH INSURANCE IN INDIA

Prudential plc has announced a new joint venture with Vama Sundari Investments, an HCL Group company, to establish a standalone health insurance business in India. Prudential's UK-based subsidiary will hold a 70% stake, while Vama will hold 30%, pending regulatory approval.

The partnership aims to support India’s growing healthcare sector and contribute to the government’s “Insurance for All by 2047” vision. Anil Wadhwani, CEO of Prudential, emphasized India’s strategic importance and the opportunity to expand health coverage amid a growing middle class. Shikhar Malhotra, Executive Director at Vama, highlighted the joint mission to improve healthcare access and drive insurance penetration.

Amar Joshi has been named CEO designate of the joint venture, subject to regulatory approval.

The new venture will build on Prudential’s longstanding presence in India through its partnerships in life insurance and asset management, including ICICI Prudential Life and ICICI Prudential Asset Management. HCL Group, known for pioneering modern computing in India, brings experience from its diverse businesses, including healthcare.

The collaboration aims to provide accessible, high-quality health insurance across India, especially in underserved areas.

CVS Health® (NYSE: CVS) will hold a conference call with analysts and investors on Thursday, May 1st, 2025, at 8:00 a.m. ET to discuss first quarter 2025 financial results.

Cintas Ends Acquisition Discussions with UniFirst

Cintas Corporation announced it has terminated discussions with UniFirst Corporation regarding its proposal to acquire all outstanding common and class B shares of UniFirst for $275.00 per share in cash. The offer represented a 46% premium over UniFirst’s ninety-day average closing price as of January 6, 2025, the last trading day before the proposal became public.

Todd Schneider, President and CEO of Cintas, stated that despite efforts to engage with UniFirst and its advisors over recent weeks, there was no substantive engagement regarding key transaction terms. As a result, Cintas has decided to end discussions.

Schneider reiterated the company’s confidence in its current growth strategy, emphasizing a continued focus on disciplined mergers and acquisitions and investments in technology initiatives. He expressed confidence in the company’s ability to create long-term value through its strong culture, team, and service offerings.

Cintas serves more than one million businesses across a range of industries by providing uniforms, facility services, safety products, and training. The company is headquartered in Cincinnati and is listed on the Nasdaq under the ticker symbol CTAS.

Cintas Posts Strong Q3 Results and Raises FY2025 Guidance Amid Organic Growth Momentum

Cintas Corporation delivered robust results for the fiscal third quarter ended February 28, 2025, with revenue rising 8.4% year-over-year to $2.61 billion. Organic revenue growth, which adjusts for acquisitions and currency effects, came in at a solid 7.9%. Net income grew 16.6% to $463.5 million, and diluted EPS rose 17.7% to $1.13, reflecting the September 2024 four-for-one stock split.

Gross margin improved to 50.6% from 49.4% last year, driven by better efficiency across business lines. Operating income jumped 17.1% to $609.9 million, aided by a $15 million gain from the sale of property and equipment. The company also generated $1.53 billion in operating cash flow over the nine-month period, translating into $1.24 billion in free cash flow.

Cintas raised its full-year guidance. Revenue is now projected to range between $10.28 billion and $10.305 billion, up from the previous $10.255–$10.320 billion range. EPS guidance increased from $4.28–$4.34 to $4.36–$4.40, representing 15–16.1% growth over FY2024.

CEO Todd Schneider attributed the strong performance to execution across the business and highlighted Cintas' differentiated value proposition in image, safety, cleanliness, and compliance. He reaffirmed confidence in continued value delivery through FY2025 despite fewer workdays and foreign exchange headwinds.

The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of $1.60 per share. The dividend will be payable May 5, 2025, to shareholders of record at the close of business April 16, 2025.

The board also declared a cash dividend on the following series of preferred stocks:

Series B: a quarterly dividend of 45 cents per share will be payable June 10, 2025, to shareholders of record at the close of business May 16, 2025.
Series S: a semi-annual dividend of $2,500.00 per share ($25.00 per each depositary share, 100 of which represent one share of Series S preferred stock) will be payable May 1, 2025, to shareholders of record at the close of business April 16, 2025.
Series T: a quarterly dividend of $850.00 per share ($8.50 per each depositary share, 100 of which represent one share of Series T preferred stock) with a payment date of June 15, 2025, will be payable the next business day to shareholders of record at the close of business May 30, 2025.
Series U: a quarterly dividend of $1,500.00 per share ($15.00 per each depositary share, 100 of which represent one share of Series U preferred stock) will be payable May 15, 2025, to shareholders of record at the close of business April 30, 2025.
Series V: a quarterly dividend of $1,550.00 per share ($15.50 per each depositary share, 100 of which represent one share of Series V preferred stock) with a payment date of June 15, 2025, will be payable the next business day to shareholders of record at the close of business May 30, 2025.
Series W: a quarterly dividend of $1,562.50 per share ($15.6250 per each depositary share, 100 of which represent one share of Series W preferred stock) with a payment date of June 15, 2025, will be payable the next business day to shareholders of record at the close of business May 30, 2025.

PNC Financial Services Adopts Executive Severance Plan

On March 21, 2025, the Human Resources Committee of The PNC Financial Services Group, Inc. approved a new Executive Severance Plan designed to provide standardized severance benefits to certain executives, including all currently serving named executive officers (NEOs), in the event of specified terminations of employment unrelated to a change in control.

Under the plan, eligible executives involuntarily terminated without cause or who resign for good reason will receive:

- Continued base salary payments for 52 weeks
- A prorated annual cash incentive at target for the termination year
- Continued vesting of outstanding annual equity awards granted before February 1, 2025 (if not otherwise retirement-eligible)
- A 70% contribution toward COBRA premiums for 52 weeks
- Talent transition benefits

Executives must sign a participation notice and provide 60 days’ notice before resigning to receive benefits. The plan does not replace existing change-in-control agreements.

The full Executive Severance Plan is filed as Exhibit 10.1 to PNC’s Form 8-K submitted to the SEC.

PNC’s latest survey of small and mid-sized business owners indicates sustained optimism about their businesses and the economy. Seventy-eight percent of business owners are optimistic about their own business prospects, near the survey’s all-time high. Half of respondents are optimistic about the national economy, slightly below last fall’s 56%, while 56% feel positive about their local economy, down from 62% six months ago.

Higher revenue businesses are more likely to express optimism and expect increased sales and profits. Demand from consumers and businesses continues to drive revenue growth, with the economy projected to expand into 2026. Manufacturing and construction businesses are among the most likely to anticipate sales increases, while service sector businesses are the least likely.

Inflation remains a major concern, with 43% of respondents extremely worried, more than double the level from last spring. Fifty-three percent plan to raise prices in the next six months, down from 61% last fall. Hiring expectations remain low, with only 15% planning to add full-time employees, compared to 21% a year ago. Inventory growth expectations are at a survey high of 42%, while 26% anticipate lower cash reserves next year, a sharp increase from 7% a year ago.

The PNC Financial Services Group, Inc. announced changes to its restricted share unit (RSU) and performance share unit (PSU) awards for Section 16 officers under its 2016 Incentive Award Plan. Effective February 14, 2025, these awards will continue to vest and be paid out under the original terms even if the recipient experiences a qualifying termination without cause or for good reason, provided they comply with award conditions. The awards will follow the same vesting and performance conditions as if the recipient had remained employed for the full performance or service period.

On January 23, 2025, The PNC Financial Services Group, Inc. (“PNC”) issued a press release announcing that Michael P. Lyons, President of PNC, resigned from PNC effective January 23, 2025, to pursue a position at another company.

The PNC Financial Services Group, Inc. reported a net income of $6.0 billion for 2024, equivalent to $13.74 diluted earnings per share (EPS). This represents a significant achievement, with fourth-quarter net income reaching $1.6 billion, or $3.77 diluted EPS. The company saw growth in net interest income (NII) and net interest margin (NIM), alongside an increase in deposits and a strengthened capital position. For the full year, total revenue amounted to $21.6 billion, reflecting steady performance compared to $21.5 billion in 2023.

Fourth-quarter highlights included a 3% growth in NII to $3.5 billion and an 11 basis point increase in NIM to 2.75%. Noninterest income for the quarter was $2.0 billion, a slight increase from the prior quarter. However, fee income declined by 4%, influenced by elevated third-quarter residential mortgage and capital markets activity. Total noninterest expense rose by 5% due to asset impairments and other operational factors, offset partially by a reduction in FDIC special assessments.

PNC maintained a strong balance sheet with stable average loans and a $3.1 billion increase in deposits during the fourth quarter. Net loan charge-offs were $250 million, representing 0.31% annualized of average loans. Credit quality improved, with a reduction in nonperforming loans to $2.3 billion and a slight decrease in the allowance for credit losses to $5.2 billion.

Capital ratios remained robust, with the Common Equity Tier 1 (CET1) ratio estimated at 10.5% as of December 31, 2024. The company returned $0.9 billion to shareholders in the fourth quarter, including dividends and share repurchases. PNC also announced a quarterly cash dividend of $1.60 per share, payable on February 5, 2025.

Looking ahead, PNC plans to leverage its strong position to drive further growth and operational efficiency while continuing to focus on customer engagement and capital returns to shareholders.