Summary
Workday, Inc. (WDAY) filed an 8-K on April 2, 2019, announcing a change in its Board of Directors. George "Skip" Battle, a current director, has decided not to stand for re-election at the upcoming 2019 annual meeting, with his term expiring on June 18, 2019. The company stated that Mr. Battle's decision is not due to any disagreements. In a related development, the Board has elected Ann-Marie Campbell as a new Class III director, effective April 2, 2019. Ms. Campbell brings significant operational and strategic expertise from her executive role at The Home Depot, Inc., where she currently serves as Executive Vice President – U.S. Stores. Her appointment is intended to enhance the Board's capabilities, and she will receive a restricted stock unit grant valued at $1,000,000, with a staggered vesting schedule.
Key Highlights
- 1Director George "Skip" Battle will not seek re-election at the 2019 Annual Meeting.
- 2Mr. Battle's departure is not related to any disagreements with the company or its management.
- 3Ann-Marie Campbell elected as a new Class III director, effective April 2, 2019.
- 4Ms. Campbell is Executive Vice President – U.S. Stores at The Home Depot, Inc.
- 5Ms. Campbell brings extensive operational experience and strategic planning expertise to the Board.
- 6Ms. Campbell will receive a $1,000,000 restricted stock unit grant upon her appointment.
- 7The Home Depot, Inc. is a customer of Workday, with significant fiscal year 2019 payments.