Summary
Duke Energy Corporation (DUK) announced the appointment of Robert M. Davis to its Board of Directors, effective January 8, 2018. Mr. Davis brings extensive financial and executive experience, having served as CFO and Executive Vice President for Merck & Co., Inc. and holding various senior finance and operational roles at Baxter International, Inc. His appointment adds significant financial acumen to the Board, particularly with his placements on the Audit Committee and the Finance and Risk Management Committee. Mr. Davis has been deemed an independent director, meeting the New York Stock Exchange and SEC standards. As a non-employee director, his compensation will align with Duke Energy's established Director Compensation Program, including a pro-rated annual retainer and eligibility for other benefits. He is also subject to the company's stock ownership guidelines, requiring directors to hold a significant amount of Duke Energy stock, ensuring alignment with shareholder interests.
Key Highlights
- 1Robert M. Davis appointed to Duke Energy's Board of Directors, effective January 8, 2018.
- 2Mr. Davis is appointed to the Board's Audit Committee and Finance and Risk Management Committee.
- 3Mr. Davis has substantial financial experience, including CFO roles at Merck & Co., Inc. and Baxter International, Inc.
- 4The Board has determined Mr. Davis meets independence standards for the NYSE and SEC.
- 5As a non-employee director, Mr. Davis will receive compensation per Duke Energy's Director Compensation Program.
- 6Mr. Davis is subject to Duke Energy's stock ownership guidelines for outside directors.