8-KLeadership ChangesExhibits & Filings

Bank of New York Mellon Corp 8-K Report, Executive Changes (Feb 2, 2015)

Filed February 2, 2015For Securities:BKBK-PKBNYBNY-PK

Summary

This Form 8-K filing from The Bank of New York Mellon Corporation (BK), filed on February 2, 2015, reports a significant change in its board composition. Effective January 30, 2015, Joseph Echevarria was elected as an independent member of the Company’s Board of Directors. This appointment expands the board to 15 directors and brings additional expertise, as Mr. Echevarria will also serve on the Audit and Corporate Social Responsibility Committees. Investors should note that this addition to the board is intended to strengthen governance and oversight. Mr. Echevarria's compensation will be in line with the company's existing non-management director compensation program, as detailed in their prior proxy statement. The filing also confirms the attachment of a press release related to this appointment as an exhibit.

Key Highlights

  • 1The Bank of New York Mellon Corporation (BK) elected Joseph Echevarria as a new independent director to its Board, effective January 30, 2015.
  • 2Mr. Echevarria's appointment increases the total number of directors on the Board to 15.
  • 3He has been appointed to serve on the Audit Committee and the Corporate Social Responsibility Committee.
  • 4The company confirmed that Mr. Echevarria will receive standard compensation for non-management directors.
  • 5This filing is a Current Report on Form 8-K, indicating a material event for the company.
  • 6A press release detailing Mr. Echevarria's election is attached as Exhibit 99.1.
  • 7The filing date is February 2, 2015, with the earliest reported event on January 30, 2015.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce the appointment of a new independent director, Joseph Echevarria, to The Bank of New York Mellon Corporation's Board of Directors and to confirm his committee assignments.

With the election of Joseph Echevarria, the Board of Directors for The Bank of New York Mellon Corporation will now consist of 15 members.

Mr. Echevarria has been elected to serve on the Company's Audit Committee and the Corporate Social Responsibility Committee.

Mr. Echevarria will receive compensation in accordance with the company's established non-management director compensation program. This is a standard practice and the details of the compensation can be found in the company's March 7, 2014 Definitive Proxy Statement.