UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 19, 2024, the Board of Directors (the “Board”) of Whirlpool Corporation (the “Company”) appointed Richard J. Kramer as a director of Whirlpool Corporation and a member of the Board’s Corporate Governance and Nominating Committee and Human Resources Committee, effective immediately.
Mr. Kramer’s compensation will be consistent with that of other non-employee directors, consisting of an annual cash retainer in the amount of $150,000, and annual equity compensation, to be paid in Whirlpool common stock, in the amount of $150,000.
Additionally, on February 19, 2024, Patricia K. Poppe communicated to the Board her decision not to stand for reelection at the Company’s 2024 Annual Meeting of Stockholders. Ms. Poppe’s decision was not related to any disagreement with the Company on any matter relating to its operations, policies or practices. Michael D. White will also not stand for reelection at the 2024 Annual Meeting of Stockholders having reached the director retirement age provided for by the Corporate Governance Guidelines for Operation of the Board of Directors.
The press release announcing the appointment of Mr. Kramer is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) | Exhibits. |
Exhibit No. | Exhibit | |
Exhibit 99.1 | Press Release dated February 19, 2024 | |
Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Website Disclosure
We routinely post important information for investors on our website, whirlpoolcorp.com, in the “Investors” section. We also intend to update the Hot Topics Q&A portion of this webpage as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our webpage is not incorporated by reference into, and is not a part of, this document.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 8-K Report to be signed on its behalf by the undersigned hereunto duly authorized.
WHIRLPOOL CORPORATION | ||
By: | /s/ Bridget K. Quinn | |
Name: | Bridget K. Quinn | |
Title: | Deputy General Counsel and Corporate Secretary | |
Date: | February 20, 2024 |
Exhibit 99.1
Contact: Whirlpool Corporation Media: 269-923-7405 Media@Whirlpool.com | ||
Whirlpool Corporation Welcomes Richard J. Kramer to Board of Directors
BENTON HARBOR, Mich., Feb. 19, 2024 The Whirlpool Corporation board of directors has appointed Richard J. Kramer, former chairman, chief executive officer and president of The Goodyear Tire & Rubber Company, to the board, effective February 19, 2024. Kramer will serve on the corporate governance and nominating committee and the human resources committee.
As a former CEO with tangible experience driving corporate strategy, we believe Rich Kramer is an excellent addition to our board, said Marc Bitzer, chairman and CEO of Whirlpool Corporation. His significant experience in accounting, finance and capital structure, as well as mergers and acquisitions makes him an invaluable resource for Whirlpool Corporation.
Kramer, 60, was tapped to lead The Goodyear Tire & Rubber Company in 2010 and held the role until his retirement in January 2024. Kramer had been with Goodyear since 2000, where he held various positions including chief operating officer and president, North American Tire. Previously, Kramer was with PricewaterhouseCoopers LLP where he was a partner.
Mr. Kramer is also a director of CNH Industrials N.V.
About Whirlpool Corporation
Whirlpool Corporation (NYSE: WHR) is committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home. In an increasingly digital world, the company is driving purposeful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and InSinkErator. In 2023, the company reported approximately $19 billion in annual sales, 59,000 employees and 55 manufacturing and technology research centers. Additional information about the company can be found at WhirlpoolCorp.com.
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