8-KOther Events

COHERENT CORP. 8-K Report (Nov 4, 2002)

Filed November 4, 2002For Securities:COHR

Summary

This Form 8-K filing by II-VI Incorporated (the "Company") on November 4, 2002, reports on the results of its Annual Meeting of Shareholders held on November 1, 2002. The primary focus is on the election of directors and the appointment of various board committees. This information is important for investors as it indicates changes in the company's governance structure and oversight. The press release attached as an exhibit details the individuals elected and their respective terms, as well as the composition of key committees like Audit, Compensation, and Nominating/Corporate Governance. Key outcomes from the shareholder meeting include the election of two new directors, Marc Y.E. Pelaez and Joseph J. Corasanti, to the Board. Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as the Company's auditors for the fiscal year ending June 30, 2003, a critical step for financial transparency and compliance. A shareholder proposal regarding the Shareholder Rights Plan was rejected. The subsequent board appointments to various committees signify the operationalization of the new board structure and provide insight into the individuals responsible for specific areas of corporate oversight.

Key Highlights

  • 1II-VI Incorporated held its Annual Meeting of Shareholders on November 1, 2002.
  • 2Two new directors, Marc Y.E. Pelaez and Joseph J. Corasanti, were elected to the Board of Directors.
  • 3Dr. Carl J. Johnson and Thomas E. Mistler were re-elected to the Board of Directors.
  • 4Deloitte & Touche LLP was ratified as the Company's auditor for the fiscal year ending June 30, 2003.
  • 5A shareholder proposal regarding the Shareholder Rights Plan was rejected by the shareholders.
  • 6The Board of Directors appointed members to key committees: Audit, Compensation, Nominating and Corporate Governance, and Option/Purchase Plans.

Frequently Asked Questions

The main outcomes included the election of two new directors, Marc Y.E. Pelaez and Joseph J. Corasanti, the re-election of directors Carl J. Johnson and Thomas E. Mistler, the ratification of Deloitte & Touche LLP as auditors for FY2003, and the rejection of a shareholder proposal concerning the Shareholder Rights Plan.

Marc Y.E. Pelaez, a retired Rear Admiral of the U.S. Navy, was elected to a one-year term expiring in 2003. Joseph J. Corasanti, President and COO of CONMED Corporation, was elected to a three-year term expiring in 2005.

The key committees are the Audit Committee (chaired by Duncan A.J. Morrison), the Compensation Committee (chaired by Peter W. Sognefest), the Nominating and Corporate Governance Committee (chaired by Thomas E. Mistler), and the Option Plan and Purchase Plan Committees (chaired by Peter W. Sognefest).

II-VI Incorporated designs, manufactures, and markets optical and opto-electronic components, devices, and materials for various instrumentation including infrared, near-infrared, visible light, and x-ray/gamma-ray applications. They also have a division developing silicon carbide growth capabilities.