K-C stockholders re-elect 3 directors to three-year terms
27 Apr '07
3 min read
At Kimberly-Clark's annual meeting Chairman and CEO Thomas J. Falk described how the company is further improving three capabilities--innovation, marketing and customer development--that are critical to its growth plans.
In voting matters at the meeting, K-C stockholders re-elected three directors to three-year terms expiring in 2010. Directors who were re-elected are James M. Jenness, Chairman of the Board, Kellogg Company; Linda Johnson Rice, President and Chief Executive Officer, Johnson Publishing Company Inc and Marc J. Shapiro, retired Vice Chairman, J.P. Morgan Chase & Co.
Two directors had previously announced their intention not to stand for re-election when their current terms expired. Pastora San Juan Cafferty, Professor Emerita, University of Chicago, and Claudio X. Gonzalez, Chairman of the Board, Kimberly-Clark de Mexico, S.A.B. de C.V, completed their service as directors effective with annual meeting. Each served as a Kimberly-Clark director for more than 30 years.
Shareholders approved management proposals to select Deloitte & Touche LLP as the independent registered public accounting firm for Kimberly-Clark and to amend the company's Certificate of Incorporation to elect each director annually as the current director's term expires. Last September, Kimberly-Clark's board voted to recommend that shareholders approve amendments that would eliminate the company's classified board structure.
Shareholders also approved ashareholder proposal regarding supermajority voting. They defeated other shareholder proposals calling for adoption of global human rights standards based on International Labor Conventions and requesting K-C to prepare a report assessing the feasibility of phasing out the use of non-FSC certified fiber within 10 years.
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