Manufacturing  February 1, 2024

Trimble adds board members, OKs $800M stock buyback

WESTMINSTER — Industrial technology company Trimble Inc. (Nasdaq: TRMB) has added two new directors to its board, which recently approved a stock repurchase program for up to $800 million in common stock.

F5 Inc. chief product officer Kara Sprague and Keysight Technologies board chairman Ron Nersesian are the new members of the Trimble board.

Regarding the stock buyback, Trimble CEO Rob Painter said, “The prioritization of capital return and debt repayment reflects our near-term capital allocation priorities as well as our confidence in the value of Trimble’s long-term plan. We are excited to execute in our core business and to continue to drive growth in revenue, cash flow and returns on capital.”

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