8-KLeadership ChangesExhibits & Filings

Eaton Corp plc 8-K Report, Executive Changes (Jul 29, 2016)

Filed July 29, 2016For Securities:ETN

Summary

Eaton Corporation plc (ETN) filed an 8-K on July 28, 2016, reporting a significant change in its Board of Directors. Effective July 29, 2016, the Board size was expanded to fourteen members with the election of Dorothy C. Thompson. Ms. Thompson brings extensive experience as the current Chief Executive Officer of Drax Group plc, an electricity company based in the UK. Ms. Thompson has been appointed to the critical Audit and Finance Committees, indicating the Board's confidence in her financial acumen and oversight capabilities. Her compensation will follow the company's standard director arrangements. Additionally, the company and its subsidiary have entered into standard indemnification agreements with Ms. Thompson, aligning with agreements provided to other directors, and similar agreements were executed with existing directors Craig Arnold and Richard H. Fearon.

Key Highlights

  • 1Eaton Corporation plc expanded its Board of Directors to fourteen members.
  • 2Dorothy C. Thompson was elected as a new director, effective July 29, 2016.
  • 3Ms. Thompson currently serves as the CEO of Drax Group plc, an electricity company.
  • 4Ms. Thompson has been appointed to the Audit and Finance Committees of the Board.
  • 5Standard director compensation arrangements will apply to Ms. Thompson.
  • 6Indemnification Agreements were entered into with Ms. Thompson, aligning with those for other directors.
  • 7Indemnification Agreements were also updated for existing directors Craig Arnold and Richard H. Fearon.

Frequently Asked Questions

Dorothy C. Thompson is a newly elected director to Eaton Corporation plc's Board. She brings significant leadership experience as the current Chief Executive Officer of Drax Group plc, an electricity company domiciled in the United Kingdom.

Ms. Thompson has been appointed by the Board to serve on the Audit and Finance Committees.

Ms. Thompson will be compensated according to Eaton's standard arrangements for directors, as outlined in its Proxy Statement for the 2016 Annual General Meeting. She has also entered into standard indemnification agreements with Eaton Corporation plc and its subsidiary, Eaton Corporation, which are designed to protect directors against expenses incurred in connection with their service on the Board.

The filing explicitly states that there are no related party transactions involving Ms. Thompson that require disclosure under S-K Item 404(a), nor are there any specific arrangements or understandings between Ms. Thompson and other persons regarding her selection as a director.