Summary
Danaher Corporation (DHR) filed an 8-K on September 13, 2011, reporting an expansion of its Board of Directors and the appointment of a new member. The Board increased its size from ten to eleven members and appointed Teri List-Stoll to fill the newly created vacancy. Ms. List-Stoll's term will extend until Danaher's 2012 annual meeting of shareholders. This appointment is significant as it adds a new perspective to the Board's oversight and governance. As a non-employee director, her compensation will align with that of other non-employee directors, as previously disclosed in Danaher's filings. Additionally, she has entered into a standard director indemnification agreement with the company, providing a layer of protection for her services. Investors should note that the company has confirmed there are no undisclosed arrangements or transactions between Ms. List-Stoll and Danaher requiring further disclosure. This signals a straightforward appointment with no apparent conflicts of interest. The addition of a director typically aims to strengthen the board's expertise and oversight, which can be viewed positively by investors looking for robust corporate governance.
Key Highlights
- 1Danaher Corporation expanded its Board of Directors from ten to eleven members.
- 2Teri List-Stoll was appointed as a new member to the Board of Directors.
- 3Ms. List-Stoll's appointment fills a newly created vacancy.
- 4Her term as a director will expire at the 2012 annual meeting of shareholders.
- 5Ms. List-Stoll has also been appointed to the Audit Committee of the Board.
- 6As a non-employee director, her compensation will be consistent with existing non-employee director compensation.
- 7Ms. List-Stoll entered into a standard director indemnification agreement with Danaher.