Summary
This 8-K filing from Intel Corporation announces a change in its Board of Directors composition and updates to its corporate bylaws. Specifically, Director Andrew Wilson will not seek re-election at the upcoming 2021 Annual Stockholders' Meeting, a decision not attributed to any disagreements with the company. Mr. Wilson's tenure on the board, which began in 2017, will conclude at the end of his current term. Furthermore, Intel's Board has approved amendments to its bylaws. These changes grant the Board more flexibility in determining its size by removing a specified range for the number of directors. Additionally, provisions for a default order of succession for corporate officers have been removed, empowering the Board to define such succession as needed. These amendments aim to streamline governance and provide the Board with greater adaptability.
Key Highlights
- 1Director Andrew Wilson will not stand for re-election at the 2021 Annual Stockholders' Meeting.
- 2Mr. Wilson's decision to not seek re-election is amicable and not due to any disagreement with Intel.
- 3Mr. Wilson has served on Intel's Board of Directors since 2017.
- 4The Board approved amendments to Intel's Bylaws, effective March 10, 2021.
- 5Bylaw amendments remove provisions for a specified range in the number of directors, allowing the Board to fix its size.
- 6Bylaw amendments remove a default order of succession for corporate officers, enabling the Board to specify succession arrangements.
- 7The filing includes the amended and restated Intel Corporation Bylaws as an exhibit.