Summary
Curtiss-Wright Corporation (CW) filed an 8-K on May 18, 2015, reporting a key change to its corporate governance structure. On May 13, 2015, the company's Board of Directors adopted an amendment to its By-Laws. This amendment specifically alters the provisions related to the size of the Board of Directors. The primary impact of this change is the reduction in the maximum allowable number of directors from eleven to ten. The exact number of directors will now be determined solely by the Board of Directors itself. This move grants the Board more flexibility in managing its own composition and size, potentially streamlining decision-making and strategic oversight.
Key Highlights
- 1Curtiss-Wright's Board of Directors amended its By-Laws on May 13, 2015.
- 2The amendment caps the maximum number of Board members at ten, down from eleven.
- 3The Board of Directors now has exclusive authority to fix the exact number of directors.
- 4This change impacts the corporate governance structure of Curtiss-Wright.
- 5The amendment was effective immediately upon adoption by the Board.
- 6The filing was made on Form 8-K, indicating a significant corporate event.
Frequently Asked Questions
The main change reported is an amendment to Curtiss-Wright's By-Laws that reduces the maximum number of directors on the Board from eleven to ten.
The amendment was adopted by Curtiss-Wright's Board of Directors.
The new maximum size of the Board of Directors is ten members.
This filing pertains to a change in corporate governance regarding the Board's size and composition. It does not directly alter financial statements or day-to-day operations, but it does grant the Board more flexibility in managing its own structure.