Eaton Appoints New CFO
Industrial giant Eaton Corporation has named David Foster its new Executive Vice President and Chief Financial Officer. The appointment is effective today, March 2, marking a key leadership change for the power management company.
David Foster is an Eaton veteran, rejoining the company after a 29-year career with the organization. Before a brief retirement in 2022, he held numerous roles across the finance organization in the U.S. and Asia Pacific, including positions in treasury, corporate development, and mergers and acquisitions. His last role before retiring was senior vice president, Finance and Planning, for the Industrial Sector. Foster's return comes as a planned transition, succeeding Olivier Leonetti, who will leave the company on March 13, 2026. In his new role, Foster's compensation includes an annual base salary of $815,000 and a target for his short-term annual incentive of 100% of his base salary. He will also be granted equity awards totaling over $3.5 million. The leadership change occurs while Eaton is experiencing significant growth, capitalizing on global trends of electrification and digitalization. The company reported record sales of $7.1 billion for the fourth quarter of 2025, a 13% increase from the previous year. Full-year 2025 sales were also a record at $27.4 billion. Looking ahead, Eaton anticipates organic growth of 7-9% for the full year 2026. The company's growth is being driven by strong performance in its Electrical and Aerospace segments, with a growing backlog and a book-to-bill ratio of 1.1, indicating that orders are outpacing sales.
