8-KLeadership Changes

SOUTHERN COPPER CORP/ 8-K Report, Executive Changes (Apr 29, 2016)

Filed April 29, 2016For Securities:SCCO

Summary

Southern Copper Corporation (SCCO) filed an 8-K on April 29, 2016, detailing significant executive and board-level changes and the outcomes of its 2016 Annual Meeting of Stockholders. The report announces the election of new officers, including Oscar Gonzalez Rocha as President and Chief Executive Officer and Daniel Muñiz Quintanilla as Executive Vice President. Notably, Julián Jorge Lazalde replaces Hans A. Flury as Secretary, with Mr. Flury receiving a separation payment of $288,052. The company also reported the outcomes of its annual meeting held on April 28, 2016, where all proposed items passed with substantial shareholder support. Key shareholder approvals included the election of eleven directors, the extension of the Directors' Stock Award Plan, and the ratification of Galaz, Yamazaki, Ruiz Urquiza S.C. (a Deloitte member firm) as the independent accountants for 2016. Furthermore, shareholders provided a non-binding advisory vote of approval for the company's executive compensation. The report indicates strong shareholder engagement, with over 96% of outstanding shares represented at the meeting, suggesting confidence in the company's governance and strategic direction.

Key Highlights

  • 1Effective April 28, 2016, Southern Copper Corporation announced a series of executive officer elections, including Oscar Gonzalez Rocha as President and CEO, and Daniel Muñiz Quintanilla as Executive Vice President.
  • 2Julián Jorge Lazalde was appointed as the new Secretary, replacing Hans A. Flury, who received a separation payment of $288,052.
  • 3The company held its 2016 Annual Meeting of Stockholders on April 28, 2016, with over 96.37% of outstanding shares represented.
  • 4Shareholders overwhelmingly elected all eleven proposed directors to serve until the 2017 annual meeting.
  • 5The extension of the Directors' Stock Award Plan was approved by a significant majority of shareholders.
  • 6Galaz, Yamazaki, Ruiz Urquiza S.C., a member firm of Deloitte Touche Tohmatsu Limited, was ratified as the independent accountants for calendar year 2016.
  • 7Shareholders provided a non-binding advisory vote in favor of the company's executive compensation.

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