What changed
Kim R. Cocklin, Chairman of the Board, will retire from the Board and as Chairman effective as of the Company's 2027 annual meeting of shareholders after reaching mandatory retirement age under the Corporate Governance Guidelines. He will not stand for re-election and intends to serve as Chairman through the 2027 Annual Meeting. The Board approved combining the roles of Chairman and Chief Executive Officer effective upon Cocklin's retirement; J. Kevin Akers, President and Chief Executive Officer, will assume the Chairman role as of the 2027 Annual Meeting, subject to his re-election as a director. Nancy K. Quinn, current Lead Director, will continue as Lead Director effective as of the 2027 Annual Meeting, subject to her re-election.
Why it matters
Kim R. Cocklin, Chairman of the Board, will retire from the Board and as Chairman effective as of the Company's 2027 annual meeting of shareholders after reaching mandatory retirement age under the Co