Summary
Exelon Corporation (EXC) announced a change in its board of directors via an 8-K filing on July 28, 2020. The size of the board was increased to thirteen members, and Ms. Marjorie Rodgers Cheshire was elected as a new director. Ms. Cheshire will serve until the 2021 annual meeting of shareholders and will receive the standard compensation for directors. Her committee assignments are still to be determined by the board. This appointment represents a governance update for Exelon, bringing new expertise to its board.
Key Highlights
- 1Board size increased to 13 directors.
- 2Ms. Marjorie Rodgers Cheshire was elected as a new director.
- 3Ms. Cheshire's term as director extends until the 2021 annual shareholder meeting.
- 4Ms. Cheshire will receive standard director compensation.
- 5Committee assignments for Ms. Cheshire are pending board determination.
Frequently Asked Questions
The filing does not provide details on Ms. Marjorie Rodgers Cheshire's background or qualifications, only her election to the board.
Ms. Cheshire's directorship is effective as of July 28, 2020, and she will serve until the 2021 annual meeting of shareholders.
No, the filing states Ms. Cheshire will receive Exelon's standard compensation for its directors, as disclosed in its proxy statement. This indicates no immediate change to the overall director compensation structure.
The filing explicitly states that the Exelon board has not yet determined which committees Ms. Cheshire will be appointed to serve on.