Summary
This 8-K filing from Lowe's Companies, Inc. (LOW) announces a significant change in its Board of Directors. Effective January 29, 2016, Sandra B. Cochran, who currently serves as President and CEO of Cracker Barrel Old Country Store, Inc., has been elected to the Board. This appointment brings external leadership experience to Lowe's.
Key Highlights
- 1Lowe's Companies, Inc. elected Sandra B. Cochran to its Board of Directors on January 29, 2016.
- 2Ms. Cochran is currently the President and CEO of Cracker Barrel Old Country Store, Inc.
- 3Her term as director will expire at the Company's 2016 annual meeting of shareholders.
- 4Ms. Cochran has been appointed to both the Compensation Committee and the Governance Committee of the Board.
- 5There are no disclosed arrangements or understandings related to her selection, nor any reportable transactions under Item 404(a) of Regulation S-K.
- 6Ms. Cochran will receive standard compensation for non-employee directors.
- 7A press release announcing the election is furnished as an exhibit.
Frequently Asked Questions
Sandra B. Cochran is the President and CEO of Cracker Barrel Old Country Store, Inc. Her election to Lowe's Board of Directors brings valuable executive leadership and operational experience from another well-known retail company, potentially offering fresh perspectives on strategy and governance.
Ms. Cochran has been appointed to serve on both the Compensation Committee and the Governance Committee of Lowe's Board of Directors.
According to the filing, there are no arrangements or understandings related to Ms. Cochran's selection, and no transactions requiring disclosure under Item 404(a) of Regulation S-K, suggesting a standard and arm's-length appointment.
Ms. Cochran will be compensated in accordance with Lowe's standard compensation practices for its non-employee directors, as previously detailed in the company's proxy statement.