Summary
Dominion Energy, Inc. (D) filed an 8-K on December 17, 2009, primarily announcing changes to its Board of Directors. The Board approved the election of William P. Barr and Robert H. Spilman, Jr. as Directors, effective December 18, 2009. This move is part of the company's ongoing governance and oversight activities, bringing new perspectives to the Board's strategic direction and operational supervision.
Key Highlights
- 1William P. Barr and Robert H. Spilman, Jr. elected as new Directors to the Board.
- 2Effective date of director appointments is December 18, 2009.
- 3Both new directors will serve until the next annual election.
- 4Mr. Barr appointed to the Finance and Risk Oversight Committee.
- 5Mr. Spilman appointed to the Audit Committee.
- 6Director compensation will follow the Non-Employee Directors Compensation Plan.
- 7The filing includes a press release dated December 17, 2009, as an exhibit.
Frequently Asked Questions
William P. Barr and Robert H. Spilman, Jr. have been elected as new Directors to the Board of Dominion Energy, effective December 18, 2009.
Mr. William P. Barr has been appointed to the Finance and Risk Oversight Committee, and Mr. Robert H. Spilman, Jr. has been appointed to the Audit Committee.
The new directors will receive compensation in accordance with the Dominion Resources, Inc. Non-Employee Directors Compensation Plan, as amended and restated, and will enter into an Advancement of Expenses agreement.
The addition of new directors, particularly those appointed to key committees like Audit and Finance and Risk Oversight, can signal a commitment to strong corporate governance and enhanced oversight, which are generally viewed positively by investors.