Summary
Morgan Stanley (MS) filed an 8-K on October 30, 2014, reporting a change in its Board of Directors. O. Griffith Sexton is retiring from the Board, effective November 1, 2014. This departure marks the end of Mr. Sexton's service to the company's board. In conjunction with Mr. Sexton's retirement, the Board elected Jami Miscik as a new director, also effective November 1, 2014. The company has confirmed that Ms. Miscik meets the independence standards set forth in Morgan Stanley's Corporate Governance Policies. Ms. Miscik will be compensated according to the company's standard practices for non-employee directors, as detailed in their most recent proxy statement.
Key Highlights
- 1O. Griffith Sexton is retiring from the Board of Directors, effective November 1, 2014.
- 2Jami Miscik has been elected to the Board of Directors, effective November 1, 2014.
- 3The company has determined that Jami Miscik is an independent director.
- 4Ms. Miscik will receive standard compensation for non-employee directors.
- 5Director changes are effective at the beginning of November 2014.
- 6The filing incorporates by reference a press release dated October 31, 2014, detailing these changes.
Frequently Asked Questions
O. Griffith Sexton is a member of Morgan Stanley's Board of Directors who has decided to retire, effective November 1, 2014. The filing does not provide further details on the reasons for his retirement beyond it being his decision.
Jami Miscik is a newly elected director to the Morgan Stanley Board, effective November 1, 2014. She has been determined to be an independent director.
Ms. Miscik will be compensated as a non-employee director in accordance with Morgan Stanley's established practices for non-employee director compensation, as outlined in the company's March 28, 2014, Annual Meeting Proxy Statement.
This 8-K filing primarily concerns changes in board composition. While director compensation is mentioned, there are no immediate significant financial statements or disclosures of material financial impact directly tied to these specific board appointments or departures in this filing.