METHODE ELECTRONICS, INC. (NYSE:MEI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
METHODE ELECTRONICS, INC. (NYSE:MEI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective June 13, 2019, the Board of Directors (the “Board”) of Methode Electronics, Inc. (the “Company”) increased the size of the Board from nine to eleven members. The Board elected Bruce Crowther and Mark Schwabero as directors of the Company to fill the vacancies. Messrs. Crowther and Schwabero will each serve as a director until their respective successor is elected and qualified or until his earlier resignation or removal.
Mr. Crowther served as President and Chief Executive Officer of Northwest Community Healthcare from 1991 until his retirement in 2013. Prior to that time, Mr. Crowther served as Executive Vice President and Chief Operating Officer of Northwest Community Healthcare from 1989 to 1991. Mr. Crowther serves as a director of NeoGenomics, Inc., Wintrust Financial Corporation and Barrington Bank.
Mr. Schwabero served as Chairman, Chief Executive Officer and Director of Brunswick Corporation from 2016 until his retirement in December, 2018. Prior to that time, Mr. Schwabero served as President and Chief Operating Officer of Brunswick Corporation from 2014 to 2016 and as President of its Mercury Marine subsidiary from 2008 to 2014. Mr. Schwabero serves as a director of 1st Source Corporation.
Messrs. Crowther and Schwabero will be compensated in a manner consistent with the Company’s other non-employee directors, as most recently described in the Company’s Proxy Statement dated July 30, 2018.
A copy of the press release announcing the appointment of Messrs. Crowther and Schwabero to the Board is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements And Exhibits.
(d) Exhibits.
99.1 Press Release dated June 14, 2019
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METHODE ELECTRONICS INC Exhibit
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About METHODE ELECTRONICS, INC. (NYSE:MEI)
Methode Electronics, Inc. (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other. The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile original equipment manufacturers (OEMs). The Interface segment provides a range of copper and fiber-optic interface and interface solutions. The Power Products segment manufactures braided flexible cables, current-carrying laminated bus devices, custom power-product assemblies, such as PowerRail solution, high-current low voltage flexible power cabling systems and powder coated bus bars. The Other segment includes medical devices, inverters and battery systems, and insulated gate bipolar transistor solutions.