CenturyLink, Inc. (NYSE: CTL) has announced that Glen F. Post, III has decided not to stand for re-election at the Company´s 2020 Annual Shareholder Meeting, the company said.
In addition to Post´s retirement from the Board, current non-executive Board Chairman Harvey Perry will retire effective May 2020 under the Company´s director retirement policy.
Upon Perry´s retirement, T. Michael Glenn will assume the position of Chairman of the Board. Current Vice Chairman Bruce Hanks will continue to serve in that role.
Glenn served as a director since Nov. 1, 2017 and is a member of the Audit and Human Resources and Compensation Committees.
The company also announced that it has appointed Hal Jones to its Board of Directors, effective Jan. 1, 2020.
In addition to changes in Board Composition, the CenturyLink Board approved the following changes to its Corporate Governance Guidelines:
Targeting average Board tenure of no more than 10 years;
Targeting to have all non-CEO Board members be independent;
Targeting a Board size of between 10 and 12 directors; and
Rotating Board committee and Board chairs approximately every five years.
CenturyLink is a technology leader delivering hybrid networking, cloud connectivity and security solutions to customers around the world. Through its extensive global fiber network, CenturyLink provides secure and reliable services to meet the growing digital demands of businesses and consumers. Learn more at http://news.centurylink.com/.
