Kimball International Announces Changes to its Board of Directors

Strategic Insights -

Kimball International, a leading commercial furnishings company, recently announced the appointment of Valerie R. Love as an independent member of its Board of Directors, effective April 1, 2021. Love, who joined The Coca-Cola Company in August 2019 as Chief of Human Resources for the North America operating unit, brings a wealth of experience in organizational design and people-related strategies. She will also serve on the Compensation and Governance Committee and stand for election at the Company's 2021 annual meeting of shareholders.

Key Takeaways:

  • Valerie R. Love was appointed as an independent member of Kimball International's Board of Directors, effective April 1, 2021.
  • Love joined The Coca-Cola Company in August 2019 as Chief of Human Resources for the North America operating unit, with primary responsibilities in leading organizational design and people-related strategies.
  • She has extensive experience in human resources, serving in various roles at General Motors, Tyco International, and Johnson & Johnson, including international assignments in Argentina and Germany.
  • Love's appointment comes with annual cash compensation of $75,000 and unrestricted shares of Common Stock valued at an aggregate of approximately $75,000, for a total annual compensation of approximately $150,000.
  • Director Tim Jahnke has decided to step down from the Board to focus on other interests, effective April 1, 2021, after seven years of dedicated service to Kimball International.
  • Jahnke's resignation was not the result of any disagreement with the Company on any matter relating to operations, policies, or practices.

Statistics:

  • 20 years of experience in human resources at General Motors
  • 2 international assignments in Argentina and Germany at General Motors
  • 7 years of dedicated service on the Kimball International Board
  • Annual compensation for independent directors: $150,000
  • Approximate holding period for shares: not specified
  • Number of employees in the global organization: not specified

Sources:

  • [Kimball International Announces Changes to its Board of Directors (Form 8-K filed March 30, 2021)]
  • [Press Release dated March 30, 2021: Kimball International Announces Changes to its Board of Directors]