8-KLeadership Changes

CONSOLIDATED EDISON INC 8-K Report, Executive Changes (Jan 15, 2015)

Filed January 15, 2015For Securities:ED

Summary

Consolidated Edison, Inc. (Con Edison) filed an 8-K on January 15, 2015, to report a key board-level change. The company announced the election of Ms. Linda S. Sanford to its Board of Directors and the Board of Trustees of its subsidiary, Consolidated Edison Company of New York, Inc. This appointment is effective January 15, 2015. Ms. Sanford's background includes her role as the retired Senior Vice President, Enterprise Transformation at International Business Machines Corporation (IBM). Her election to the Board and appointment to three key committees – Environment, Health and Safety, Finance, and Planning – suggests an emphasis on strategic oversight and operational expertise. Investors should note that her compensation will align with the company's established director compensation policies as outlined in the 2014 proxy statement.

Key Highlights

  • 1Appointment of Ms. Linda S. Sanford to the Board of Directors of Consolidated Edison, Inc. and the Board of Trustees of Consolidated Edison Company of New York, Inc.
  • 2Ms. Sanford's appointment is effective January 15, 2015.
  • 3Ms. Sanford brings experience from her former role as Senior Vice President, Enterprise Transformation at IBM.
  • 4Ms. Sanford has been appointed to three key Board committees: Environment, Health and Safety; Finance; and Planning.
  • 5Director compensation for Ms. Sanford will follow existing arrangements detailed in Con Edison's 2014 proxy statement.

Frequently Asked Questions

Ms. Linda S. Sanford is a newly elected director for Consolidated Edison, Inc. and its subsidiary. Her most recent executive role was as the retired Senior Vice President, Enterprise Transformation at International Business Machines Corporation (IBM), indicating significant experience in corporate strategy and transformation initiatives.

Ms. Sanford has been appointed to serve on three important committees of the Board: the Environment, Health and Safety Committee, the Finance Committee, and the Planning Committee. These appointments suggest a focus on strategic financial oversight and operational planning, as well as environmental and safety matters.

Ms. Sanford's compensation will be determined in accordance with the 'Director Compensation' guidelines previously disclosed in Consolidated Edison's proxy statement for its 2014 annual meeting of stockholders, filed on April 8, 2014. This indicates a standard compensation structure for board members.