8-KLeadership ChangesExhibits & Filings

MICROSOFT CORP 8-K Report, Executive Changes (Sep 19, 2017)

Filed September 19, 2017For Securities:MSFT

Summary

Microsoft Corporation has filed an 8-K report detailing changes to its Board of Directors. Mason Morfit, a director since 2014, has decided to retire and will not seek re-election at the upcoming annual shareholders meeting. This departure marks the end of his tenure on the board. In conjunction with Mr. Morfit's retirement, the Board has appointed Hugh Johnston as a new director, effective immediately. Mr. Johnston, a seasoned executive serving as Vice Chairman and CFO of PepsiCo, Inc., brings significant financial expertise to the board. He will also serve on the Audit Committee, further strengthening the board's oversight capabilities. Mr. Johnston will receive standard compensation for non-employee directors.

Key Highlights

  • 1Mason Morfit is retiring from the Microsoft Board of Directors.
  • 2Mr. Morfit, who has served since 2014, will not seek re-election at the 2017 annual shareholders meeting.
  • 3Hugh Johnston has been appointed as a new director to the Microsoft Board, effective immediately.
  • 4Mr. Johnston is the Vice Chairman and Chief Financial Officer of PepsiCo, Inc.
  • 5Mr. Johnston will serve on the Audit Committee of the Board.
  • 6Mr. Johnston's appointment is effective September 19, 2017.
  • 7Mr. Johnston will receive standard compensation for non-employee directors.

Frequently Asked Questions

The filing states that Mason Morfit has informed the Company of his decision to retire and will not seek re-election at the 2017 annual shareholders meeting. The specific reasons for his retirement are not detailed in this 8-K filing.

Hugh Johnston, age 56, is a highly experienced executive. He currently serves as Vice Chairman and Chief Financial Officer of PepsiCo, Inc., bringing extensive financial and operational expertise to Microsoft's board.

Hugh Johnston has been appointed as a director and will serve on the Audit Committee of the Microsoft Board. This role is crucial for corporate governance and financial oversight.

No, Hugh Johnston will receive the same compensation as other non-employee Microsoft directors, as outlined in the company's 2016 Proxy Statement. There are no special arrangements mentioned.