Tenneco has announced that its Board of Directors has appointed Dennis J. Letham, formerly lead independent director, as its new chairman. Letham succeeds Gregg M. Sherrill, who served as non-executive chairman of the board since 2018, and as chairman for over 10 years after joining Tenneco in January of 2007 as the Company’s CEO. The appointment is effective immediately. Sherrill will remain a member of the board and announced that he intends to retire prior to next year’s annual meeting of stockholders.
“It’s been an honor to serve as Tenneco’s Board chair for the last 13 years,” said Sherrill. “I’m confident in our future and in Dennis’ leadership as we continue our commitment to the best governance practices by refreshing our Board leadership positions with highly qualified individuals. Dennis has been a member of the Board since 2007 and for many of those years has served as the chair of our audit committee. That experience, along with his appointment earlier this year as Lead Independent Director, marks a natural progression for Dennis to serve as fully independent Board Chairman. We are confident that he will help ensure that our actions and decisions remain focused on the best interests of shareholders in his new role.”
Letham previously served as executive vice president and chief financial officer of Anixter International from 1995 until his retirement in 2011. He currently serves as a director of Extra Space Storage.
“For the last 13 years, Tenneco has been and will continue to be very fortunate to have Gregg’s steady hand and strong voice in the Board room,” said Letham. “I look forward to continuing to work with Gregg and the other directors as we continue to oversee the successful execution of Tenneco’s strategic and financial objectives.”