Summary
Lowe's Companies, Inc. (LOW) filed an 8-K on February 3, 2015, reporting a significant change in its Board of Directors. On January 30, 2015, James H. Morgan, the Chairman of Krispy Kreme Doughnuts, Inc., was elected to the Lowe's Board. Mr. Morgan's appointment is effective immediately and his term will conclude at the company's 2015 annual shareholder meeting. Furthermore, Mr. Morgan has been appointed to serve on two key board committees: the Audit Committee and the Governance Committee. This addition brings new expertise to the board, particularly in areas crucial for financial oversight and corporate governance. Investors should note that there are no undisclosed arrangements or related-party transactions involving Mr. Morgan and the company, and he will be compensated according to the standard director compensation policy.
Key Highlights
- 1James H. Morgan, Chairman of Krispy Kreme Doughnuts, Inc., appointed to Lowe's Board of Directors.
- 2Mr. Morgan's appointment is effective January 30, 2015, with his term ending at the 2015 annual shareholder meeting.
- 3Mr. Morgan has been appointed to the Audit Committee of the Board.
- 4Mr. Morgan has also been appointed to the Governance Committee of the Board.
- 5There are no disclosed arrangements or understandings regarding Mr. Morgan's selection.
- 6No reportable transactions under Item 404(a) of Regulation S-K involving Mr. Morgan.
- 7Mr. Morgan will receive compensation consistent with Lowe's standard director compensation policies.