Summary
Moody's Corporation is announcing changes to its Board of Directors. Two long-serving directors, Ewald Kist and Darrell Duffie, will retire and not seek re-election at the upcoming 2018 annual meeting of stockholders. This move is part of the company's ongoing succession and refreshment planning for its Board. In conjunction with these retirements, Moody's plans to nominate two new independent director candidates: Vincent A. Forlenza and Gerrit Zalm. Mr. Forlenza brings extensive experience from a 37-year tenure at BD (Becton, Dickinson and Company), where he served as Chairman and CEO, along with other board memberships. Mr. Zalm has a distinguished career, including roles as Chairman and CEO of ABN AMRO, former Minister of Finance of the Netherlands, and Chairman of the International Accounting Standards Board, along with a current directorship at Royal Dutch Shell. These appointments aim to enhance the Board's expertise and strategic oversight.
Key Highlights
- 1Ewald Kist and Darrell Duffie, long-time board members since 2004 and 2008 respectively, will retire.
- 2The retirements are effective at the 2018 annual meeting of stockholders, scheduled for April.
- 3Moody's will nominate Vincent A. Forlenza and Gerrit Zalm as new director candidates.
- 4Vincent A. Forlenza has significant executive experience as Chairman and CEO of BD (Becton, Dickinson and Company).
- 5Gerrit Zalm brings international financial and governmental experience, having served as CEO of ABN AMRO and Minister of Finance of the Netherlands.
- 6These director changes are framed as part of the Board's succession and refreshment planning.