Federal Signal Corporation named Dennis J. Martin president and chief executive officer, following the resignation of William H. Osborne. Martin, 60, has served on Federal Signal's Board of Directors since 2008.

"Our Board of Directors and Bill Osborne agree that, following two years of important progress to improve Federal Signal's cost structure and position the company for long term growth, the time is right for new leadership to accelerate the company's strategic and financial goals," said James E. Goodwin, Chairman of the Board of Federal Signal.

"I am excited to be joining Federal Signal's management team," said Martin. "Federal Signal has great strengths including a strong portfolio of innovative products and solutions, a diverse global customer base and outstanding employees. I look forward to working with the Board, management team and all Federal Signal employees, to drive accelerated profitable growth and enhance shareholder value."

"On behalf of the Board of Directors, I would like to thank Bill Osborne for his time, commitment and valuable service to Federal Signal," concluded Goodwin. "We appreciate his numerous contributions and wish him the best in his future endeavors."

The company also said that Jennifer Sherman, the company's senior vice president, general counsel and secretary will assume the additional role of chief administrative officer. In her new role, she will be responsible for the company's administrative functions including legal, human resources, information technology, facilities, compliance and government affairs.

Martin has been a member of Federal Signal's board of directors since March 2008. Most recently, he served as Vice President of BD Martin Group LLC, a consulting firm, a position he has held since August 2005. From May 2001 to August 2005, Mr. Martin was the chairman, president and CEO of General Binding Corporation (GBC), a manufacturer and marketer of binding and laminating office equipment. He joined GBC from Illinois Tool Works, where he was corporate executive vice president and CEO of the Welding Products Group. Martin enjoyed a 10-year career at Illinois Tool Works after joining from Ingersoll-Rand Company.