Summary
Cardinal Health Inc. (CAH) filed an 8-K on September 3, 2013, reporting a change in its Board of Directors. Dr. Jean G. Spaulding, a long-serving director since 2002, has decided not to seek re-election at the upcoming 2013 annual meeting. Her departure is amicable and not due to any disagreements with the company. In a related development, the Board has elected Patricia A. Hemingway Hall as a new director, effective September 12, 2013. Ms. Hemingway Hall, currently the CEO of Health Care Service Corporation, has been nominated for election at the 2013 Annual Meeting. Her appointment brings new leadership experience to the Board, which will be beneficial for the company's strategic direction. Investors should note that her committee assignments are yet to be determined.
Key Highlights
- 1Director Jean G. Spaulding will not stand for re-election at the 2013 Annual Meeting, concluding her tenure since 2002.
- 2Dr. Spaulding's decision to not seek re-election is not attributed to any disagreements with Cardinal Health.
- 3Patricia A. Hemingway Hall has been elected to the Board of Directors, effective September 12, 2013.
- 4Ms. Hemingway Hall is nominated for election at the 2013 Annual Meeting.
- 5Ms. Hemingway Hall brings executive leadership experience as President and CEO of Health Care Service Corporation.
- 6Ms. Hemingway Hall will receive standard compensation for non-management directors.