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.
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.