Summary
Ross Stores, Inc. (ROST) announced the election of Mr. Stephen D. Milligan to its Board of Directors, effective January 21, 2015. Mr. Milligan fills a newly created directorship and is considered an independent director under Nasdaq listing rules. His initial term is set to expire at the 2015 Annual Stockholders Meeting, and he is expected to be appointed to board committees at that time. Mr. Milligan's appointment represents an expansion of the board, potentially indicating a focus on enhanced governance or strategic oversight. Investors can anticipate that he will receive standard compensation for his board service, including cash and restricted stock, as determined by the Compensation Committee. The company has attached the press release announcing this appointment as an exhibit to this filing.
Key Highlights
- 1Stephen D. Milligan appointed to the Board of Directors, effective January 21, 2015.
- 2Mr. Milligan's appointment fills a newly created seat on the Board.
- 3Mr. Milligan qualifies as an independent director under Nasdaq Marketplace Rules.
- 4His initial term as director expires at the 2015 Annual Stockholders Meeting.
- 5Mr. Milligan is expected to be appointed to board committees in May.
- 6Compensation for Mr. Milligan's services will include cash and restricted stock.
- 7The press release announcing the appointment is filed as an exhibit.