01—Abstract
Summary
Summary of the 8-K filed August 15, 2007. Cited figures are marked; the original filing is the authoritative source.
This 8-K filing from The Procter & Gamble Company (PG) reports on a significant change in its Board of Directors.
Joseph T. Gorman, a long-standing director since 1993, has announced his intention to retire from the Board. This retirement is in line with the company's standard retirement age policy for directors and will become effective at the October 2007 Board meeting, coinciding with his 70th birthday.
02—Key points
Key Highlights
- Joseph T. Gorman, a director since 1993, is retiring from the Board of Directors.
- Mr. Gorman's retirement is effective at the October 2007 Board of Directors meeting.
- The retirement is in accordance with Procter & Gamble's customary retirement age for directors.
- Mr. Gorman will reach the age of 70 on October 1, 2007.
- The company is filing this report under Item 5.02(b) concerning the departure of a director.
- An accompanying news release dated August 15, 2007, provides further details.
03—Questions
Frequently Asked Questions
Who is Joseph T. Gorman and why is he retiring?
Joseph T. Gorman has been a director of The Procter & Gamble Company since 1993. He is retiring from the Board of Directors because he will be turning 70, which aligns with the company's customary retirement age policy for its directors.
When will Mr. Gorman's retirement be effective?
Mr. Gorman's retirement from the Board of Directors will be effective at the Procter & Gamble Board of Directors meeting scheduled for October 2007.
Does this retirement signal any other changes or concerns for Procter & Gamble?
Based on the information provided in this 8-K filing, the retirement of Joseph T. Gorman is presented as a planned event due to the company's standard retirement age policy for directors. It does not indicate any immediate concerns or suggest broader changes within the company's operations or strategic direction.
04—Continue