8-KLeadership ChangesExhibits & Filings

Mondelez International, Inc. 8-K Report, Executive Changes (Jul 20, 2023)

Filed July 20, 2023For Securities:MDLZ

Summary

Mondelez International, Inc. (MDLZ) has announced a change to its Board of Directors, increasing its size by one member to ten and appointing Cees ‘t Hart as a new director. Mr. ‘t Hart brings significant executive experience as the current CEO of the Carlsberg Group, a prominent global beverage company. His appointment is effective immediately and he will serve on the Audit and Finance Committees of the Board. This strategic addition to the Board aims to leverage Mr. ‘t Hart's expertise, particularly given his designation as an independent director and an Audit Committee Financial Expert. Investors can view this as a move to strengthen the Board's oversight and financial acumen. The company has confirmed there are no related-party transactions with Mr. ‘t Hart, ensuring a clear and independent addition to the leadership.

Key Highlights

  • 1Mondelēz International increased its Board of Directors size from 9 to 10 members.
  • 2Cees ‘t Hart, CEO of Carlsberg Group, was appointed as a new director.
  • 3Mr. ‘t Hart's appointment is effective July 20, 2023.
  • 4He has been appointed to serve on the Audit Committee and the Finance Committee.
  • 5Mr. ‘t Hart has been deemed an independent director by Nasdaq standards.
  • 6He also qualifies as an Audit Committee Financial Expert according to SEC rules.
  • 7There are no reportable transactions or arrangements between Mr. ‘t Hart and Mondelēz.

Frequently Asked Questions

Cees ‘t Hart's appointment brings extensive leadership experience as the CEO of Carlsberg Group. His roles on the Audit and Finance Committees, along with his designation as an independent director and Audit Committee Financial Expert, are expected to enhance the Board's oversight and financial governance.

The Board of Directors size has been increased from 9 to 10 members to accommodate the new appointment. Mr. ‘t Hart's addition contributes to the Board's overall expertise and diversity.

The filing explicitly states that there are no transactions between Mr. ‘t Hart and Mondelēz International that would require reporting under SEC regulations. He has also been determined to be an independent director, suggesting no conflicts of interest.

Mr. ‘t Hart will receive the standard compensation and indemnification provided to all other non-employee directors of Mondelēz International. Details of this compensation structure are available in the company's Proxy Statement filed on April 6, 2023.