On July 11, 2017, Dr. H. Kirk Downey retired from his position as a member of the Board of AZZ Inc. Also on July 11, 2017, Mr. J. Drew Byelick, age 60, was appointed to serve as the company’s Vice President and Chief Accounting Officer, effective immediately. Mr. Byelick has been employed with the Company since January 2015, having served most recently as Director of Finance - Energy from March 2016 until the present. In his position as Vice President and Chief Accounting Officer, Mr. Byelick will participate in the Company’s Senior Management Bonus Plan (the “STI Plan”), which will provide for an annual cash incentive target based on 45% of Mr. Byelick’s annual base salary pursuant to the achievement of certain individual and company-wide goals, which will be prorated for the remainder of the Company's fiscal year.