8-KLeadership ChangesRegulation FDExhibits & Filings

CARDINAL HEALTH INC 8-K Report, Executive Changes (Aug 31, 2020)

Filed August 31, 2020For Securities:CAH

Summary

Cardinal Health, Inc. (CAH) announced a change to its Board of Directors via an 8-K filing on August 31, 2020. The company elected Sheri H. Edison as a new independent director, effective September 1, 2020. Ms. Edison brings extensive legal and executive experience, currently serving as Executive Vice President and General Counsel of Amcor plc. Her appointment is intended to enhance the board's expertise and governance. In addition to the new appointment, the filing also disclosed that director Colleen F. Arnold will not seek re-election at the upcoming 2020 annual shareholder meeting. Ms. Arnold, who has served on the board since 2007, is leaving her position voluntarily and without any stated disagreement with the company's operations or policies. These board changes are important for investors to monitor as they can signal shifts in strategic direction or governance focus.

Key Highlights

  • 1Sheri H. Edison elected to the Board of Directors, effective September 1, 2020.
  • 2Ms. Edison is currently Executive Vice President and General Counsel of Amcor plc, bringing significant legal and executive experience.
  • 3The Board has determined Ms. Edison meets independence standards per NYSE and Company guidelines.
  • 4Ms. Edison will participate in the company's standard non-management director compensation plan and receive a prorated restricted share unit grant of $33,959.
  • 5Director Colleen F. Arnold will not stand for re-election at the 2020 annual meeting of shareholders.
  • 6Ms. Arnold's decision not to seek re-election is voluntary and not due to any disagreement with the company.
  • 7The company issued a news release on August 31, 2020, announcing Ms. Edison's election, furnished as an exhibit.

Frequently Asked Questions

Sheri H. Edison has been elected to Cardinal Health's Board of Directors. She brings valuable experience as the Executive Vice President and General Counsel of Amcor plc, a global packaging company. Her appointment is expected to strengthen the board's governance and expertise.

Yes, the Board of Directors has determined that Ms. Edison is independent under the standards of the New York Stock Exchange and the Company's Corporate Governance Guidelines.

Ms. Edison will be compensated according to the non-management director compensation arrangements. She will also receive a prorated initial grant of $33,959 in restricted share units based on her start date.

Colleen F. Arnold has decided not to stand for re-election when her term expires at the 2020 annual shareholder meeting. She has indicated that this decision is not a result of any disagreement with the company regarding its operations, policies, or practices.