Summary
Emerson Electric Co. (EMR) filed an 8-K report on November 6, 2008, primarily to disclose an amendment to its corporate bylaws. The key change allows Vernon R. Loucks, Jr. to continue serving on the Board of Directors for an additional year, extending his tenure until the February 2010 Annual Meeting of Stockholders. This amendment specifically waives the previous bylaw which stipulated that directors could not stand for election or re-election after reaching the age of 72. The filing includes the amended bylaw provision as an exhibit.
Key Highlights
- 1Emerson Electric Co. amended its corporate bylaws on November 4, 2008.
- 2The amendment permits Vernon R. Loucks, Jr. to serve on the Board of Directors beyond the previous age limit.
- 3Mr. Loucks, Jr. will be eligible to serve until the February 2010 Annual Meeting of Stockholders.
- 4The previous bylaw restricted director service to age 72.
- 5This change represents a specific waiver for one director, Vernon R. Loucks, Jr.
- 6The filing includes the amended bylaws as exhibits.
Frequently Asked Questions
The main purpose of this 8-K filing is to report an amendment to Emerson Electric Co.'s corporate bylaws, specifically related to the age limit for directors.
The bylaw amendment specifically affects Vernon R. Loucks, Jr., allowing him to serve on the Board of Directors for an additional year beyond the previous age restriction.
The previous bylaw stated that no director could stand for election or re-election to the Board after reaching the age of 72.
The amended bylaw is effective as of November 4, 2008. Mr. Loucks, Jr. will be able to serve until the Annual Meeting of Stockholders in February 2010.