Panduit Board Names Shannon McDaniel as Next CEO
Press Release by Panduit Data Centre Infrastructure Tue 18 Jan 2022
- Dennis Renaud to retire effective December 31, 2021
- Shannon McDaniel has been appointed next CEO for Panduit effective January 1, 2022
Panduit has announced that its Board of Directors has appointed Shannon McDaniel as its next Chief Executive Officer (CEO) and President effective January 1, 2022. McDaniel, who currently serves as the company’s chief financial officer, will succeed current CEO and President Dennis Renaud, who will retire at the end of 2021.
“As a results-focused leader, Shannon brings his collaborative mindset to the role, drawing from his commercial and financial background, while leveraging the power of Panduit to move the company forward,” said Panduit Executive Chair Andrew Caveney. “Shannon has also built the trust of our employees, and the Board is confident that he will apply his deep industry knowledge and keen business acumen to lead Panduit.”
Caveney added that McDaniel is taking over the role of CEO at an ideal time. “Our long-term investment horizon, outstanding employees, and agile business processes have allowed us to build business momentum through the downturn,” he explained. “The digital economy, the drive for zero carbon emissions, and electrification trends are having a profound impact on our markets. Panduit is well positioned to apply our problem-solving mindset to solve technical challenges as new technologies transform our data centre, enterprise, and industrial businesses.”
“I am thrilled for the opportunity to serve as Panduit’s CEO and lead the company into its next phase of growth,” said McDaniel. “We have a great strategy, an incredibly talented and dedicated workforce, and an innovative culture that is continually looking to create value for our customers. I am very excited about our future and the opportunities in front of us.”
McDaniel has served in a variety of leadership positions over his 30-year career. Prior to joining Panduit as CFO, he excelled in global financial leadership roles during his 14 years with Eaton Corporation, including serving as the company’s Director of Finance for its EMEA electrical business and Vice President of Finance for the Americas systems and services group.
Following his planned retirement, Renaud will continue supporting the transition in an advisory capacity through the first quarter of 2022.