Trimble (NASDAQ:TRMB) has officially announced the expansion of its Board of Directors and the authorization of an $800 million stock repurchase program.
Reports state that the company has expanded its Board of Directors from nine to eleven members, appointing Kara Sprague and Ron Nersesian as directors, effective February 5, 2024.
In addition to the board expansion, the company revealed its plan to repurchase up to $800 million of its common stock, an increase from its previous authorization.
This repurchase program is set to replace the existing one and is designed to be flexible, allowing purchases through various methods without a set expiration date.