Summary
This 8-K filing from Lowe's Companies, Inc. (LOW) announces the upcoming departure of a long-serving Board member, Robert A. Ingram. Mr. Ingram, who has been on the Board since 2001, has decided not to seek re-election at the upcoming 2011 annual meeting of shareholders. His decision is driven by a desire to allocate more time to other professional responsibilities and is explicitly stated as not being due to any disagreements with the company or its management.
Key Highlights
- 1Robert A. Ingram, a Director since 2001, will not stand for re-election at the 2011 Annual Meeting.
- 2Mr. Ingram's departure is voluntary, citing a need to focus on other professional commitments.
- 3The decision is not a result of any disagreement with Lowe's management or the Board.
- 4The Board of Directors plans to reduce its size from 11 to 10 members.
- 5The reduction in Board size will be effective on the date of the 2011 Annual Meeting, scheduled for May 27, 2011.