CARTHAGE, Mo., May 4, 2023
/PRNewswire/ --
- Annual meeting addressed four items of business; voting aligned
with Board recommendations
- Karl Glassman retired as an
executive officer of the Company and continues to serve as Chairman
of the Board
- Lead Independent Director Judy
Odom retired; Robert Brunner
appointed Lead Independent Director
Leggett & Platt's annual meeting of shareholders was held
this morning. Shareholders elected as directors the 11 nominees
proposed by the Board; ratified the selection of
PricewaterhouseCoopers as the Company's independent registered
public accountant for 2023; endorsed the compensation of the
Company's named executive officers; and approved the recommended
advisory vote on executive compensation every year. No other
proposals were voted upon.
As previously announced, Karl
Glassman retired as an executive officer of the Company,
effective today, and will continue to serve as Chairman of the
Board of Directors. Karl was appointed Executive Chairman of the
Board following his retirement as the Company's CEO on December 31, 2021, a position he held since 2016.
Karl was first appointed Chairman of the Board in 2020.
President & CEO Mitch Dolloff
commented, "On behalf of the Company, I would like to thank Karl
for his many significant contributions to Leggett & Platt over
the past 41 years. Karl's experience, insight, and dedication moved
our company forward fostering an environment of mutual respect,
collaboration, and continuous improvement. I am grateful for the
tremendous leadership and mentorship Karl provided to me and many
other employees throughout his career. I look forward to Karl's
continued service as Chairman of the Board."
In addition, Judy Odom retired
from the Board of Directors, effective today, at the conclusion of
her current term. Judy has been a director since 2002 and served on
the Human Resources and Compensation Committee and Nominating,
Governance and Sustainability Committee and as the Lead Independent
Director.
Chairman Karl Glassman commented,
"On behalf of the entire Board of Directors, we express our sincere
gratitude to Judy for her many years of outstanding service to the
Company and its shareholders. The Company greatly benefited from
Judy's guidance, leadership, and long-standing commitment."
Robert Brunner will succeed Judy
as Lead Independent Director, effective today. Bob has been a
director since 2009 and serves on the Human Resources and
Compensation Committee and Nominating, Governance and
Sustainability Committee. "Bob's leadership and board experience
with global diversified manufacturers has provided valuable insight
over the years," said Karl. "I'm confident that he will provide
exceptional guidance and oversight of the Board."
FOR MORE INFORMATION: Visit Leggett's website at
www.leggett.com.
COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a
diversified manufacturer that designs and produces a broad variety
of engineered components and products that can be found in many
homes and automobiles. The 140-year-old Company is comprised of 15
business units, approximately 20,000 employees, and 135
manufacturing facilities located in 18 countries.
Leggett & Platt is the leading U.S.-based manufacturer of:
a) bedding components; b) automotive seat support and lumbar
systems; c) specialty bedding foams and private label finished
mattresses; d) components for home furniture and work furniture; e)
flooring underlayment; f) adjustable beds; and g) bedding industry
machinery.
CONTACT: Investor Relations,
(417) 358-8131 or invest@leggett.com
Susan R. McCoy, Senior Vice
President of Investor Relations
Cassie J. Branscum, Senior Director
of Investor Relations
Kolina A. Talbert, Manager of
Investor Relations
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SOURCE Leggett & Platt