Summary
This 8-K filing from McGraw Hill Financial, Inc. (now S&P Global Inc.) on February 25, 2015, primarily announces a significant leadership transition. Harold McGraw III, who had a long tenure with the company including serving as President, CEO, and most recently non-executive Chairman, will not seek re-election as a director at the upcoming Annual Meeting of Shareholders on April 29, 2015. This marks the end of his 27-year directorship and extensive leadership roles. The company's Board of Directors also intends to propose Charles E. Haldeman, Jr., an existing independent director since 2012, to succeed Mr. McGraw as the non-executive Chairman of the Board. This transition is presented as a planned succession and is not due to any disagreement. The company plans to honor Mr. McGraw's contributions by conferring the title of "Chairman Emeritus" upon his retirement.
Key Highlights
- 1Harold McGraw III will not stand for re-election as a director at the April 29, 2015 Annual Meeting.
- 2Mr. McGraw III has served in various leadership roles, including President, CEO, and non-executive Chairman, and has been a director for 27 years.
- 3The Board intends to nominate Charles E. Haldeman, Jr. for the position of non-executive Chairman of the Board.
- 4Mr. Haldeman, Jr. has been an independent director of the company since 2012.
- 5Mr. McGraw III's departure as director is not due to any disagreement with the company or its management.
- 6Harold McGraw III will be granted the honorary title of "Chairman Emeritus" upon his retirement.