COLUMBUS MCKINNON CORPORATION (NASDAQ:CMCO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
On October 24, 2017, the Board of Directors (the “Board”) of Columbus McKinnon Corporation (the “Company”) appointed Kathryn V Roedel to its Board.
Ms. Roedel, 57 years old, was most recently Executive Vice President at Select Comfort Corporation (NASDAQ: SCSS), a vertically integrated retailer and manufacturer of the Sleep Number Bed in the U.S., where she served since 2005 in a variety of leadership positions. Prior to her tenure at Select Comfort, Ms. Roedel held VP and General Management positions with General Electric spanning 22 years.
Ms. Roedel is a Director for Generac Power Systems (NYSE: GNRC), where she is a member of the Nominating and Governance Committee. She is also a member of the Board of Directors for The Jones Family of Companies, a private, family-owned manufacturer serving the mattress and packaging industries.
Ms. Roedel will stand for election at the Company’s annual shareholder meeting on July 23, 2018. She will serve on the Audit Committee and the Compensation and Succession Committee.
The Board has determined that Ms. Roedel satisfies the definition of “independent director” and the requirements for service on the Board’s Audit Committee under the NASDAQ listing standards. The Audit Committee consists solely of independent directors.
Ms. Roedel will participate in the Company’s standard outside director compensation program. to this program, each member of the Board, who is not an employee of the Company, receives an annual retainer of $125,000, payable $65,000 in cash and the remainder in stock. In addition to the annual retainer, directors who are not employees of the Company receive 1,500 restricted stock units annually which vest over 3 years. The Chairman and Committee Chairs receive additional fees, which are not applicable to Ms. Roedel. Also, the directors receive reimbursement for the expenses they incur in attending all board and committee meetings.
On October 24, 2017, the Company issued a press release announcing the appointment of Ms. Roedel to the Board. A copy of the press release is filed with this Form 8-K as Exhibit 99.1.
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Item 9.01 |
FINANCIAL STATEMENTS AND EXHIBITS. |
(d)Exhibits.
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EXHIBIT NUMBER |
DESCRIPTION |
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99.1 |
Press Release dated October 24, 2017 |
COLUMBUS MCKINNON CORP ExhibitEX-99.1 2 exhibit991102417.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1 News Release 205 Crosspoint ParkwayGetzville,…To view the full exhibit click here
About COLUMBUS MCKINNON CORPORATION (NASDAQ:CMCO)
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
