Summary
Danaher Corporation (DHR) filed an 8-K on February 21, 2017, announcing a change to its Board of Directors. The Board's size was increased from eleven to twelve members, and Dr. Raymond C. Stevens was appointed to fill this new vacancy. Dr. Stevens's term will extend until the 2017 annual shareholder meeting. He has been deemed independent under NYSE listing standards and will receive standard compensation for non-employee directors, as previously disclosed in their Form 10-K. This appointment signifies an expansion of the Board, potentially to accommodate new strategic directions or governance needs. Investors should note that Dr. Stevens has no disclosed related-party transactions or prior arrangements influencing his selection, indicating a straightforward addition to the directorial team.
Key Highlights
- 1Danaher Corporation increased its Board of Directors size from 11 to 12 members.
- 2Dr. Raymond C. Stevens was appointed to the newly created vacancy on the Board.
- 3Dr. Stevens's term on the Board will expire at the 2017 annual shareholder meeting.
- 4Dr. Stevens has been classified as independent under New York Stock Exchange listing standards.
- 5As a non-employee director, Dr. Stevens will receive compensation consistent with other independent directors.
- 6There are no disclosed understandings or arrangements between Dr. Stevens and other parties regarding his appointment.
- 7Dr. Stevens has no transactions requiring disclosure under Item 404(a) of Regulation S-K.