Two Board Members to Retire from Oshkosh Corp. (OSK); Board Size Cut to 12
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Oshkosh Corp. (NYSE: OSK) disclosed that on November 18, 2016, Richard G. Sim, a member of the Board of Directors of Oshkosh Corporation, notified the Company of his intention to retire from the Board by resigning effective as of November 22, 2016.
On November 22, 2016, Richard M. Donnelly, the current independent Chairman of the Board, notified the Company of his intention to retire from the Board effective as of the close of the Company’s 2017 annual meeting of shareholders.
After being advised of the intentions of Messrs. Sim and Donnelly to retire from the Board, the Board acted to approve a reduction in the size of the Board from thirteen directors to twelve directors effective November 22, 2016 and from twelve directors to eleven directors effective as of the date of the Company’s 2017 annual meeting of shareholders. As a result of the Board’s action, the retirements of Messrs. Sim and Donnelly will not result in any vacancy on the Board.
In light of the intention of Mr. Donnelly to retire from the Board, the Board has elected Craig P. Omtvedt, a member of the Board, to serve as independent Chairman of the Board effective at the close of the Company’s 2017 annual meeting of shareholders, assuming the shareholders elect him as a director at that meeting.
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