Summary
Dominion Energy, Inc. (D) filed an 8-K on February 14, 2019, reporting changes to its Board of Directors. William P. Barr resigned from the Board effective February 12, 2019. His departure was not attributed to any disagreements with the company, which is a positive indicator for stability and governance. Concurrently, the company announced the election of two new directors, James A. Bennett and D. Maybank Hagood, who will serve until the next annual election. These appointments are effective February 15, 2019. Investors should note that while the departure of a director can sometimes signal underlying issues, Dominion Energy's statement indicates no such disagreements. The addition of new directors suggests the company is actively managing its board composition, potentially bringing in new perspectives or expertise. The compensation for the new directors will follow the company's standard Non-Employee Directors Compensation Plan, as previously disclosed.
Key Highlights
- 1William P. Barr resigned from the Board of Directors, effective February 12, 2019.
- 2Mr. Barr's resignation is stated to be unrelated to any disagreements with Dominion Energy.
- 3James A. Bennett and D. Maybank Hagood were elected to the Board of Directors.
- 4The new directors' terms will extend until the next annual election.
- 5Messrs. Bennett and Hagood will receive compensation in accordance with the company's Non-Employee Directors Compensation Plan.
- 6The company has standard agreements in place for advancement of expenses for directors.