Summary
Amgen Inc. (AMGN) announced a key change to its Board of Directors on February 1, 2017, with the appointment of Charles M. Holley Jr. Mr. Holley brings extensive financial leadership experience, having previously served as Executive Vice President and Chief Financial Officer for Wal-Mart Stores, Inc. His appointment strengthens the Board's financial expertise and governance capabilities. Following his addition, the Board will consist of 15 directors, with a strong majority of 14 being independent, underscoring Amgen's commitment to robust corporate governance. Mr. Holley's compensation structure as a director has also been detailed, including an annual retainer, meeting attendance fees, and equity awards. Specifically, he will receive an annual retainer of $100,000 and is eligible for committee meeting fees. He will also receive an annual grant of restricted stock units valued at $200,000, which vest immediately. These details provide transparency into the financial arrangements related to his directorship.
Key Highlights
- 1Amgen Inc. appointed Charles M. Holley Jr. to its Board of Directors, effective February 1, 2017.
- 2Mr. Holley's extensive financial background includes serving as EVP and CFO of Wal-Mart Stores, Inc.
- 3His appointment will increase the Board size to 15 directors.
- 4Following the appointment, 14 out of 15 directors will be independent, enhancing corporate governance.
- 5Mr. Holley will serve on the Audit Committee and the Corporate Responsibility and Compliance Committee.
- 6Director compensation includes an annual retainer of $100,000 and meeting attendance fees.
- 7Mr. Holley will receive an annual grant of restricted stock units valued at $200,000, which vest immediately.