Buckle Inc to rotate independent Directors at quarterly meeting
14 Oct '05
2 min read
Leading apparel retailer Buckle Inc reported in its Proxy Statement for the annual meeting of stockholders held on June 2, 2005, that its independent Directors meet separately in executive session without employee Directors or representatives of management at each regularly scheduled quarterly meeting of the Board. However, the Company failed to indicate which Director presides at such meetings.
Until the annual meeting of the Board of Directors of the Company held on June 2, 2005, both the Compensation Committee and the Audit Committee of the Company were comprised of all of the independent Directors, and only the independent Directors of the Company. William Orr, Chair of the Compensation Committee, and Bill Fairfield, Chair of the Audit Committee, presided at meetings of these Committees, which meetings also constituted executive sessions of the independent Directors.
As of June 2, 2005, all of the independent Directors do not serve on any one committee. It is expected that no one Director will preside at all executive sessions of the independent Directors. Rather each Director will preside on a rotating basis in alphabetical order starting with the meeting to be held on December 12, 2005 at which Director Robert E. Campbell will preside.
Headquartered in Kearney, Nebraska, Buckle Inc is a retailer of casual apparel, footwear and accessories for young men and women. It currently operates 336 retail stores in 38 states compared to 327 stores in 38 states at this same time a year ago. The Company will open one new store later this month in Collierville, Tennessee.
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