KANSAS CITY SOUTHERN (NYSE:KSU) 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
KANSAS CITY SOUTHERN (NYSE:KSU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 26, 2017, the Board of Directors (“Board”) of Kansas City Southern (the “Company”) elected Mitchell J. Krebs, Lydia I. Beebe, Janet H. Kennedy and Henry J. Maier as members of the Board. The size of the Board was expanded to 12 members.
Mitchell J. Krebs is currently President and Chief Executive Officer of Coeur Mining, Inc., a leading producer of silver and gold with mines in North and South America, including Mexico. The Board appointed Mr. Krebs to serve on the Audit Committee and Finance Committee of the Board.
Lydia E. Beebe currently serves as Senior Of Counsel with the law firm of Wilson Sonsini Goodrich & Rosati. Ms. Beebee has experience serving in various executive roles at Chevron Corporation. The Board appointed Ms. Beebee to serve on the Nominating and Corporate Governance Committee of the Board.
Janet H. Kennedy is currently President of Microsoft Canada, a subsidiary of Microsoft Corporation. The Board appointed Ms. Kennedy to serve on the Compensation and Organization Committee of the Board.
Henry J. Maier is currently President and Chief Executive Officer of FedEx Ground, a subsidiary of FedEx Corp. The Board appointed Mr. Maier to serve on the Compensation and Organization Committee of the Board.
Each of the directors listed above will receive an annual cash retainer of $75,000 and an annual stock award, under the Company’s equity incentive plan in effect on the grant date, with a value of $105,000. Additionally, each of the directors will receive an annual cash retainer of $10,000 for being a member of each of the committees listed above. Each director will enter into the Company’s standard indemnification agreement for officers and directors as described on the Company’s definitive proxy statement filed on April 4, 2017, which description is incorporated herein by reference.
On May 30, 2017, the Company issued a press release announcing the new directors. The press release is attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d)
Press Release issued by Kansas City Southern, dated May 30, 2017, entitled “KCS Adds Four Directors to Board; Strengthens Key Areas on Board”
About KANSAS CITY SOUTHERN (NYSE:KSU)
Kansas City Southern (KCS) is a transportation holding company with domestic and international rail operations in North America that are focused on the north/south freight corridor connecting commercial and industrial markets in the central United States with industrial cities in Mexico. The Company controls and owns The Kansas City Southern Railway Company (KCSR), a United States Class I railroad that serves a 10-state region in the midwest and southeast regions of the United States and has the shortest north/south rail route between Kansas City, Missouri and several key ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi and Texas. The Company controls and owns Kansas City Southern de Mexico, S.A. de C.V. (KCSM), which serves Mexico’s principal industrial cities and three of its seaports. KCSM has the right to control and operate the southern half of the rail bridge at Laredo, Texas, which spans the Rio Grande River between the United States and Mexico. KANSAS CITY SOUTHERN (NYSE:KSU) Recent Trading Information
KANSAS CITY SOUTHERN (NYSE:KSU) closed its last trading session down -0.44 at 95.36 with 1,048,722 shares trading hands.
Kansas City Southern (KCS) is a transportation holding company with domestic and international rail operations in North America that are focused on the north/south freight corridor connecting commercial and industrial markets in the central United States with industrial cities in Mexico. The Company controls and owns The Kansas City Southern Railway Company (KCSR), a United States Class I railroad that serves a 10-state region in the midwest and southeast regions of the United States and has the shortest north/south rail route between Kansas City, Missouri and several key ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi and Texas. The Company controls and owns Kansas City Southern de Mexico, S.A. de C.V. (KCSM), which serves Mexico’s principal industrial cities and three of its seaports. KCSM has the right to control and operate the southern half of the rail bridge at Laredo, Texas, which spans the Rio Grande River between the United States and Mexico. KANSAS CITY SOUTHERN (NYSE:KSU) Recent Trading Information
KANSAS CITY SOUTHERN (NYSE:KSU) closed its last trading session down -0.44 at 95.36 with 1,048,722 shares trading hands.