Summary
Cintas Corporation (CTAS) announced a change in its Board of Directors, with Robert J. Herbold resigning effective January 24, 2006. This departure is due to his wife's appointment as U.S. Ambassador to Singapore, necessitating his presence in Asia and inability to regularly attend board meetings in Cincinnati. While the company is actively seeking a replacement independent director, investors should note that Mr. Herbold's resignation is based on personal circumstances rather than any performance-related issues with Cintas. The Nominating and Governance Committee is managing the search for a suitable candidate to fill the vacancy.
Key Highlights
- 1Robert J. Herbold resigned from the Cintas Corporation Board of Directors on January 24, 2006.
- 2The reason for resignation is Mr. Herbold's wife's appointment as U.S. Ambassador to Singapore, requiring his significant time in Asia.
- 3Mr. Herbold's relocation will prevent him from attending Cintas Board meetings regularly.
- 4The company's Nominating and Governance Committee is actively searching for a replacement independent director.
- 5The resignation is attributed to personal and logistical reasons, not company performance.
Frequently Asked Questions
Mr. Herbold resigned due to his wife's appointment as U.S. Ambassador to Singapore, which requires him to spend a significant amount of time in Asia and makes regular attendance at Cintas Board meetings in Cincinnati impractical.
Yes, the Nominating and Governance Committee is currently engaged in a search for an independent director to replace Mr. Herbold.
The filing explicitly states that the resignation is due to Mr. Herbold's personal circumstances and the resulting travel demands, not due to any performance or governance concerns related to Cintas Corporation.