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.
Frequently Asked Questions
Robert A. Ingram is not standing for re-election to the Board of Directors to devote more time to other professional commitments.
No, the filing explicitly states that Mr. Ingram's decision was not the result of any disagreement with the Company or its management.
Yes, the Board of Directors intends to reduce its size from 11 to 10 members, effective on the date of the 2011 Annual Meeting.
The 2011 Annual Meeting of Shareholders is scheduled to be held on May 27, 2011.