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Michael Larson Appointed to Ecolab’s Board

Ecolab Press Release

ST. PAUL, Minn.--(BUSINESS WIRE)-- The Board of Directors of Ecolab Inc. announced that it has appointed Michael Larson to the Ecolab board.

Mr. Larson is Chief Investment Officer to William H. Gates III and the Business Manager of Cascade Investment, L.L.C., in Kirkland, WA. He has been responsible for Mr. Gates' non-Microsoft investments as well as the assets of the Bill and Melinda Gates Foundation Trust since 1995. Previously, Larson was with Harris Investment Management, Putnam Investment Management and ARCO. He also serves as a director of AutoNation, Inc.; Republic Services, Inc.; Grupo Televisa, S.A.B.; and Fomento Mexicano Economico, S.A.B. de C.V.

Douglas M. Baker, Jr., Ecolab's Chairman and Chief Executive Officer commented on Larson's appointment, saying, "We are very pleased to have Michael join Ecolab's board. He adds valued public company board experience as well as a long-term shareholder perspective to our board. We look forward to his counsel as we further develop our aggressive growth plans."

Larson's appointment increases the size of Ecolab's Board to 15 from 14 members.

About Ecolab

With 2011 pro forma sales of $11 billion and more than 40,000 employees, Ecolab Inc. is the global leader in water, hygiene and energy technologies and services that provide and protect clean water, safe food, abundant energy and healthy environments. Ecolab delivers comprehensive programs and services to the food, energy, healthcare, industrial and hospitality markets in more than 160 countries.

Captured from 27 May, 2020

Michael Larson

Director Ecolab

Biography – Chief investment officer to William H. Gates III. Director of Ecolab since 2012. Chair of the Finance Committee and member of the Safety, Health and Environment Committee.

Mr. Larson has been chief investment officer for Mr. Gates and the Business Manager of Cascade Investment, L.L.C. since 1994. He is responsible for Mr. Gates’ non-Microsoft investments as well as the investment assets of the Bill & Melinda Gates Foundation Trust. Previously, Mr. Larson was at Harris Investment Management, Putnam Management Company and ARCO.

Qualifications – With more than 30 years of portfolio management experience, Mr. Larson has deep investment expertise and broad understanding of the capital markets, business cycles and capital efficiency and allocation practices. He also has served on several other public company boards providing him relevant corporate governance experience. In addition, as a professional investor and as the investment officer of Ecolab’s largest shareholder, Mr. Larson brings a long-term shareholder perspective to the Board.

Other directorships held during the past five years – Director of Republic Services, Inc. and Fomento Economico Mexicano, S.A.B. de C.V. In addition, he is Chairman of the Board of Trustees of two funds in the Western Asset Management fund complex. Formerly a director of AutoNation, Inc.



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