Summary
Amphenol Corporation (APH) has announced a change to its Board of Directors through an 8-K filing on December 5, 2018. The company's Board size has been increased from ten to eleven directors, with the immediate appointment of Robert A. Livingston as a new board member. Mr. Livingston brings significant experience, having previously served as President and Chief Executive Officer of Dover Corporation. His appointment is intended to bolster the board's expertise and governance. Mr. Livingston will be compensated as a non-employee director in line with Amphenol's established policies, including a prorated grant of restricted shares. The company has affirmed that Mr. Livingston meets the independence requirements set by the New York Stock Exchange, and there are no related-party transactions to report. This move signals a strategic enhancement of the company's leadership structure.
Key Highlights
- 1Amphenol Corporation increased its Board of Directors size from ten to eleven members.
- 2Robert A. Livingston was appointed as a new independent director to the Board, effective immediately.
- 3Mr. Livingston is the former President and Chief Executive Officer of Dover Corporation, bringing executive leadership experience.
- 4The company has confirmed Mr. Livingston's independence based on NYSE listing standards.
- 5Mr. Livingston will receive standard compensation for non-employee directors, including an interim restricted stock grant.
- 6There are no reportable related-party transactions between Mr. Livingston and Amphenol.
- 7A press release announcing the appointment is attached as an exhibit.