WS News
24 May 2025, 15:33
EnerSys Appoints New CEO, Announces Executive Compensation Updates
EnerSys announced the retirement of CEO David M. Shaffer effective May 22, 2025. He is succeeded by Shawn M. O’Connell, who became CEO and a board member on May 23.
O’Connell’s new compensation includes:
• Annual base salary of $950,000
• Annual incentive target of 115% of salary
• Enhanced severance terms including two years' compensation and COBRA coverage
Shaffer entered into a retirement agreement granting continued vesting of equity awards, pro rata incentive payments, and transfer of his company vehicle, in exchange for restrictive covenants.
Additionally, CFO Andrea J. Funk received a $1.5 million equity award, vesting over four years, to support performance alignment and retention.
EnerSys announced the retirement of CEO David M. Shaffer effective May 22, 2025. He is succeeded by Shawn M. O’Connell, who became CEO and a board member on May 23.
O’Connell’s new compensation includes:
• Annual base salary of $950,000
• Annual incentive target of 115% of salary
• Enhanced severance terms including two years' compensation and COBRA coverage
Shaffer entered into a retirement agreement granting continued vesting of equity awards, pro rata incentive payments, and transfer of his company vehicle, in exchange for restrictive covenants.
Additionally, CFO Andrea J. Funk received a $1.5 million equity award, vesting over four years, to support performance alignment and retention.
