Summary
ConocoPhillips (COP) announced a change to its Board of Directors on October 5, 2018. The company's Board size was increased from 11 to 12 members with the election of Admiral William H. McRaven, USN, Retired. Admiral McRaven will serve as a director until his successor is elected and will be a member of both the Audit and Finance Committee and the Human Resources and Compensation Committee. His appointment is in line with the company's standard compensation policies for non-employee directors.
Key Highlights
- 1Board size increased from 11 to 12 members.
- 2Admiral William H. McRaven, USN, Retired, was elected to the Board of Directors.
- 3Admiral McRaven will serve until his successor is duly elected or until his earlier resignation or removal.
- 4Admiral McRaven will serve as a member of the Audit and Finance Committee.
- 5Admiral McRaven will serve as a member of the Human Resources and Compensation Committee.
- 6Admiral McRaven's appointment is not based on any specific arrangement or understanding with other parties.
- 7Admiral McRaven has no direct or indirect material interest in any transactions requiring disclosure.