Summary
This Adobe Inc. (ADBE) 8-K filing from February 2016 announces the upcoming departure of three long-serving directors: Kelly Barlow, Michael Cannon, and Robert Sedgewick. These directors have decided not to stand for re-election at the company's 2016 Annual Meeting of Stockholders. They will continue to serve in their current capacities until that meeting, ensuring a smooth transition. The company's Board of Directors will also be reduced in size to ten members, effective following the Annual Meeting.
Key Highlights
- 1Three directors (Kelly Barlow, Michael Cannon, Robert Sedgewick) will not seek re-election at the 2016 Annual Meeting.
- 2The departing directors will remain on the board until the 2016 Annual Meeting.
- 3The company's Board of Directors size will be reduced to ten members.
- 4The reduction in board size is effective upon the commencement of the 2016 Annual Meeting.
- 5This announcement pertains to board composition changes and not operational or financial performance.