Kimball board appoints new chairOctober 31, 2018
From Local Sources
JASPER — Kimball International Inc. announced Tuesday that its Board of Directors has appointed Kim Ryan as its new chair of the board, effective Nov. 1. Ryan replaces Bob Schneider, who is retiring after serving four years as both chair and CEO of the company.
Ryan has served as a member of the Kimball International board since being appointed in 2014 and has participated as a member of the Audit Committee during the past four years. She will work closely with Kimball International’s newly announced CEO, Kristie Juster, to lead and oversee the company’s next chapter as it focuses on elevating growth and strategic initiatives to continue its success in increasing long-term shareholder value.
Additionally, the board discontinued the position of lead independent director. Pat Connolly will continue to serve on the Audit Committee, assuming the role as its chair, while Susan Frampton will assume the role of chair of the Compensation and Governance Committee, on which she has served as a member for the past 2 1/2 years. The board also determined that it will commence a search for a new director to be added to the board in the next several months to replace the director position held by Schneider.
As of Nov. 1, the board will decrease from eight members to seven, until such time as a new director is selected and appointed by the board.
At the 2018 Annual Meeting of Shareowners of Kimball International Inc., the following nominees were elected to serve on the board of directors: Juster, Timothy J. Jahnke and Thomas J. Tischhauser. Each received a majority of the votes cast, and each will serve a term of three years until the 2021 meeting of shareowners, or until their respective successors have been duly elected and qualified.
The board declared a quarterly dividend of 8 cents per share for all outstanding shares of common stock payable Jan. 15, 2019, to shareowners of record on Dec. 21, 2018.
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