Summary
Rockwell Automation, Inc. (ROK) announced a change to its Board of Directors composition. The Board has been expanded from ten to eleven directors, effective February 7, 2024. This strategic expansion aims to enhance board oversight and governance capabilities. Timothy M. Knavish has been elected as the new director, with his term set to expire at the 2027 Annual Meeting of Shareowners. Mr. Knavish has also been appointed to key committees, including the Audit Committee and the Compensation and Talent Management Committee. These appointments signal a commitment to leveraging experienced leadership in critical areas of corporate governance and financial oversight.
Key Highlights
- 1Board size increased from 10 to 11 directors.
- 2Timothy M. Knavish elected as a new director.
- 3Mr. Knavish's term as director expires at the 2027 Annual Meeting of Shareowners.
- 4Mr. Knavish appointed to the Audit Committee.
- 5Mr. Knavish appointed to the Compensation and Talent Management Committee.
- 6New director compensation includes standard equity and cash payments.
- 7No undisclosed arrangements or transactions involving Mr. Knavish were reported.
Frequently Asked Questions
The company increased the size of its Board from ten to eleven directors to enhance its governance and oversight capabilities.
Timothy M. Knavish was elected as the new director.
Mr. Knavish has been appointed as a member of the Audit Committee and the Compensation and Talent Management Committee.
Mr. Knavish will receive standard equity and cash compensation for non-employee directors, including shares of common stock valued at $129,508, as per the company's 2020 Long-Term Incentives Plan.