8-KLeadership Changes

GLOBAL PAYMENTS INC 8-K Report, Executive Changes (Mar 2, 2017)

Filed March 2, 2017For Securities:GPN

Summary

This 8-K filing from Global Payments Inc. (GPN) announces a significant addition to its Board of Directors. Effective March 6, 2017, William B. Plummer has been appointed as a Class II director and a member of the Audit Committee. Mr. Plummer brings extensive financial leadership experience, having served as Executive Vice President and Chief Financial Officer of United Rentals, Inc. since December 2008. His appointment is effective and he will stand for reelection at the 2017 annual meeting. Investors should note Mr. Plummer's substantial financial and corporate governance background, as indicated by his current role and prior directorships, including at John Wiley & Sons, Inc. This appointment signals a potential strengthening of the company's financial oversight and strategic direction. Mr. Plummer will be compensated according to the company's standard non-employee director compensation plan, involving stock grants and a cash retainer.

Key Highlights

  • 1William B. Plummer appointed as a Class II director to the Board, effective March 6, 2017.
  • 2Mr. Plummer also appointed as a member of the Company's Audit Committee, effective March 6, 2017.
  • 3Mr. Plummer's extensive financial expertise includes his role as EVP and CFO of United Rentals, Inc. since December 2008.
  • 4He currently serves as a director and audit committee member of John Wiley & Sons, Inc.
  • 5Mr. Plummer's directorship is subject to reelection at the 2017 annual shareholder meeting.
  • 6Compensation for Mr. Plummer will follow the standard non-employee director plan, including stock grants and cash retainer.
  • 7There are no disclosed family relationships or material interests in transactions with the company for Mr. Plummer.

Frequently Asked Questions

William B. Plummer has been appointed as a new Class II director to Global Payments Inc.'s Board of Directors and as a member of the Audit Committee, effective March 6, 2017. He brings significant financial leadership experience from his role as Executive Vice President and Chief Financial Officer of United Rentals, Inc.

Mr. Plummer has served as the Executive Vice President and Chief Financial Officer of United Rentals, Inc. since December 2008, indicating substantial experience in financial management and corporate strategy. He also has experience on the audit committee of another public company, John Wiley & Sons, Inc.

As a non-employee director, Mr. Plummer will receive compensation according to the company's established plan. This includes an annual grant of common stock and an annual cash retainer.

The filing states that there are no family relationships between Mr. Plummer and any director or officer of the Company, and he has no direct or indirect material interests in any transactions requiring disclosure. This suggests no immediate conflicts of interest have been identified.