Summary
HCA Healthcare, Inc. (HCA) filed an 8-K on January 17, 2018, to announce a key change in its Board of Directors. The Board elected Michael W. Michelson as a new director, increasing the Board's size to 12 members. Mr. Michelson has been deemed independent and will serve on the Audit and Compliance Committee and the Finance and Investments Committee. This appointment brings additional expertise to HCA's governance structure, particularly within critical oversight committees. Investors should note that Mr. Michelson will participate in the existing non-management director compensation program. The company also attached the press release announcing this change as an exhibit to the filing.
Key Highlights
- 1HCA Healthcare appointed Michael W. Michelson as a new independent director to its Board.
- 2The Board size was increased from 11 to 12 members to accommodate the new director.
- 3Mr. Michelson will serve on the Audit and Compliance Committee and the Finance and Investments Committee.
- 4Mr. Michelson has been determined to be independent under NYSE, SEC, and company guidelines.
- 5The appointment is in accordance with HCA's Amended and Restated Certificate of Incorporation.
- 6Mr. Michelson will be compensated under the company's standard non-management director compensation program.
- 7The company issued a press release on January 17, 2018, detailing this board change.