8-KLeadership Changes

AMGEN INC 8-K Report, Executive Changes (Oct 24, 2017)

Filed October 24, 2017For Securities:AMGN

Summary

This 8-K filing from Amgen Inc. (AMGN) on October 24, 2017, announces a significant addition to its Board of Directors. The company has appointed Dr. Wanda M. Austin as a new director, effective following the December Board and committee meetings. Dr. Austin brings a wealth of experience, having served as the retired president and CEO of The Aerospace Corporation, a leader in national security space programs, and currently holds a director position at Chevron Corporation and serves as an adjunct professor. Her appointment strengthens the Board's expertise, particularly in areas relevant to technology and governance, and will see her serve on the Audit Committee and the Corporate Responsibility and Compliance Committee. This expansion brings the total number of directors to 14, with 13 deemed independent, reinforcing Amgen's commitment to robust oversight and governance.

Key Highlights

  • 1Amgen Inc. appointed Dr. Wanda M. Austin as a new director to its Board.
  • 2Dr. Austin's appointment is effective after the December 2017 Board and committee meetings.
  • 3She brings extensive leadership experience as the retired president and CEO of The Aerospace Corporation.
  • 4Dr. Austin currently serves as a director for Chevron Corporation.
  • 5She will contribute to the Board's Audit Committee and the Corporate Responsibility and Compliance Committee.
  • 6Following her appointment, the Board will consist of 14 directors, 13 of whom are independent.
  • 7Dr. Austin's compensation will be in line with Amgen's standard director compensation package, including retainers and equity grants.

Frequently Asked Questions

Wanda M. Austin is a retired president and chief executive officer of The Aerospace Corporation, a company focused on national security space programs. She has also served in various leadership roles within that organization and is currently a director at Chevron Corporation. Her appointment to Amgen's Board aims to enhance the Board's expertise, particularly in areas of technology, governance, and complex organizational management.

Dr. Austin will serve as a member of Amgen's Board of Directors' Audit Committee and the Corporate Responsibility and Compliance Committee. These committees play key roles in financial oversight and corporate governance.

Dr. Austin will receive standard director compensation, which includes a pro-rated annual retainer, compensation for committee meeting attendance, and a pro-rated annual grant of fully vested restricted stock units. She will also be reimbursed for expenses related to her Board duties.

After Dr. Austin joins the Board, Amgen's Board of Directors will comprise 14 members. The company emphasizes that 13 of these directors will be independent, highlighting a strong commitment to independent oversight.