Milwaukee-based Rexnord Corp. has signed president and chief executive officer Todd Adams to a deal keeping him with the company through at least December 2021, according to securities filings.
The company and Adams entered into an agreement last week that includes a three-year employment term running through Dec. 13, 2021. The deal includes automatic one-year terms after the initial period unless either side decides to end it at least 90 days before the end of the current term.
Adams’ base salary remains the same under the letter agreement at $965,000.
He has been president and CEO of Rexnord since 2009. In 2012 and 2015, he entered into similar agreements with the company that called for an initial three-year term with automatically renewing one-year terms afterwards. Adams first joined the company in 2004 as vice president, treasurer and controller.