Regal Beloit Corporation has announced that Jonathan J. Schlemmer, Chief Operating Officer of the Company, will retire effective January 31, 2020, consistent with a reorganization of the Company's leadership team that will result in the elimination of the Chief Operating Officer position. The company and Mr. Schlemmer have entered into a Retirement Agreement, dated December 27, 2019, which contains financial and other terms relating to Mr. Schlemmer's impending retirement. Mr. Schlemmer will retire from the role of Chief Operating Officer of the Company upon the Retirement Date. At that time he will also resign from all remaining officer and director positions that he holds with any of the Company's subsidiaries or affiliates.
Regal Rexnord Corporation is engaged in the engineering and manufacturing of factory automation sub-systems, industrial powertrain solutions, automation and mechanical power transmission components, electric motors and electronic controls, air-moving products, and specialty electrical components and systems. Its segments consists of Industrial Powertrain Solutions (IPS), Power Efficiency Solutions (PES), and Automation & Motion Control (AMC). Its IPS segment designs, produces and services mounted and unmounted bearings, couplings, mechanical power transmission drives, gearboxes and gear motors, clutches, brakes, and industrial powertrain components. Its PES segment designs and produces fractional to approximately five horsepower alternating current and direct current motors, electronic variable speed controls, and more. Its AMC segment designs, produces and services conveyor products, conveying automation subsystems, aerospace components, rotary precision motion solution, and more.
REGAL REXNORD CORPORATION 
