http://www.implu.com/stories Latest stories from www.implu.com. en-us http://www.implu.com/story/19685 MICHAEL MACMILLAN, SEVP, GROUP PRESIDENT at TJX COMPANIES ($TJX) is now on implu http://www.implu.com/story/19685 http://www.implu.com/story/19689 On February 2, 2011, the Compensation and Management Development Committee of Hess Corporation ("the Company") approved target cash bonuses for the chief executive officer, chief financial officer and three most highly compensated executive officers (other than the chief executive officer and chief financial officer) of the Company for 2011. One-third of the bonus is payable based upon attainment of a specified target level of a corporate performance measure, one-third is based upon the attainment of specified business unit metrics, and one-third is discretionary based on individual performance and other qualitative factors. Payouts may range from 0% to 150% for each component of the target bonus, based on the percentage of attainment of the corporate and business unit performance measures and, with respect to the individual performance component, the Compensation and Management Development Committee's determination of an appropriate amount. http://www.implu.com/story/19689 http://www.implu.com/story/19688 On February 2, 2011, the Compensation Committee (the "Compensation Committee") of the Board of Directors of Advanced Micro Devices, Inc. (the "Company") approved a bonus award for each of the following Named Executive Officers (as defined in the Company's Proxy Statement for the Annual Meeting of Stockholders held on April 29, 2010): Mr. Thomas Seifert, the Company's Senior Vice President and Chief Financial Officer and Interim Chief Executive Officer, and Mr. Emilio Ghilardi, the Company's Senior Vice President and Chief Sales Officer, for fiscal year 2010, under the Executive Incentive Plan (the "Plan"). The bonus awards consist of cash payments in the amount of $1,050,000 for Mr. Seifert and $942,865 for Mr. Ghilardi and will be paid in March 2011. Pursuant to the Plan, the bonus opportunities were based on the achievement of a pre-established key company-wide corporate financial measure, the non-GAAP operating income. The Company intends to provide additional information regarding the bonus awarded to Mr. Seifert and Mr. Ghilardi for the 2010 fiscal year in the Company's proxy statement for the 2011 Annual Meeting of Stockholders of the Company, which is expected to be filed with the Securities and Exchange Commission in March 2011. http://www.implu.com/story/19688 http://www.implu.com/story/19687 WILLIAM THOMAS, SR. EXECUTIVE VP, EXPLOITATION at EOG RESOURCES ($EOG) is now on implu http://www.implu.com/story/19687 http://www.implu.com/story/19686 NAN STUTZ, SEVP, GROUP PRESIDENT at TJX COMPANIES ($TJX) is now on implu http://www.implu.com/story/19686 http://www.implu.com/story/19680 VAUGHN TUCKSON, EVP & CHIEF OF MEDICAL AFFAIRS at UNITEDHEALTH GROUP ($UNH), is now on implu http://www.implu.com/story/19680 http://www.implu.com/story/19679 JOSEPH ROBINSON, EXECUTIVE VICE PRESIDENT & CIO at FIFTH THIRD BANCORP ($FITB), is now on implu http://www.implu.com/story/19679 http://www.implu.com/story/19678 JAMES PETERSON, VP, MARKETING & CORP. AFFAIRS at BALL ($BLL), is now on implu http://www.implu.com/story/19678 http://www.implu.com/story/19677 ANNE FINUCANE, a Director at CVS CAREMARK ($CVS), is now on implu http://www.implu.com/story/19677 http://www.implu.com/story/19673 On January 20, 2011, the Board of Directors of The Williams Companies, Inc. ("Williams") elected Randall L. Barnard as Senior Vice President - Gas Pipeline of Williams effective February 24, 2011. On January 24, 2011, the Board of Directors of Williams Partners GP LLC (the "General Partner"), the general partner of Williams Partners L.P., elected Mr. Barnard as Senior Vice President -Gas Pipeline and director of the General Partner, in each case effective February 24, 2011. Mr. Barnard will assume positions currently held by Philip D. Wright, who was elected as Senior Vice President-Corporate Development of Williams on January 20, 2011, effective February 24, 2011. Mr. Wright will also resign from his positions as Senior Vice President - Gas Pipeline and director of the General Partner, in each case effective February 24, 2011. http://www.implu.com/story/19673 http://www.implu.com/story/19672 On December 10, 2010, VeriSign, Inc. (the "Company") announced that on December 9, 2010, its Board of Directors declared a special cash dividend (the "Dividend") of $3.00 per share of its common stock, par value $0.001 per share, to be paid on December 28, 2010 (the "Payment Date") to shareholders of record at the close of business on December 20, 2010 (the "Record Date"). The Company's stock declined by approximately $3.00 on the ex-dividend date. On January 21, 2011, the Compensation Committee determined to grant restricted stock units ("RSUs") equal in value to the $3.00 Dividend, based on the price of the Company's common stock on the Payment Date, to holders of stock options outstanding under the Company's equity plans on the Record Date. For this purpose, the $32.94 stock closing price on the Payment Date was used to compute the number of RSUs to be issued, with rounding to the nearest whole share. Vested options priced below $41 received $3.00 worth of immediately vested RSUs per option share, reduced by the amount of RSUs withheld for tax withholding purposes. Unvested options priced below $41 received unvested RSUs vesting two years from the date of issuance, provided the holder continues to be employed by, or provide services to, the Company. No RSUs were issued with respect to options priced at $41 or above. The RSUs were granted under the Company's 2006 Equity Incentive Plan. The Compensation Committee granted RSUs to all 298 affected option holders, including employees and directors serving on the Board of Directors, as applicable in each case. The table below shows the number of RSUs issued to each of the named executive officers per applicable vesting schedule. http://www.implu.com/story/19672 http://www.implu.com/story/19671 On January 18, 2011, the Nomination, Compensation and Governance Committee (the "Committee") of M&T Bank Corporation's Board of Directors made various compensation decisions with respect to its senior executive officers that were designed to comply with the Interim Final Rule on TARP Standards for Compensation and Corporate Governance (the "TARP Interim Final Rule") issued by the U.S. Department of the Treasury ("Treasury") in June 2009. The TARP Interim Final Rule imposes certain restrictions on the compensation paid by M&T Bank Corporation and other TARP participants to its "senior executive officers" and the next twenty most highly compensated employees, including the payment or accrual of bonuses and most equity-based incentive compensation. M&T Bank Corporation's senior executive officers, who are also our named executive officers, for whom the Committee took action to adjust compensation for 2011 are: Robert G. Wilmers, Chairman and Chief Executive Officer; Ren F. Jones, Executive Vice President and Chief Financial Officer; Mark J. Czarnecki, President; Michael P. Pinto, Vice Chairman; and Kevin J. Pearson, Executive Vice President. For each of the named executive officers, the Committee determined not to award any cash bonuses, as required by the TARP Interim Final Rule, established base salaries consisting of a cash portion and a "stock salary" payable in M&T Bank Corporation common stock, par value $0.50 per share ("Common Stock"), and granted a "long-term restricted stock" award consistent with the provisions of the TARP Interim Final Rule ("TARP restricted stock award"). http://www.implu.com/story/19671 http://www.implu.com/story/19670 On January 20, 2011, the Compensation Committee (the Committee) of the Board of Directors (the Board) of Gilead Sciences, Inc. (the Company) set the base salaries for the 2011 fiscal year for the Company's current named executive officers (the Executive Officers). The Committee also determined their bonus awards for the completed 2010 fiscal year based on their individual performance and the Company's attained level of certain financial and non-financial objectives established for that year. The independent members of the Board ratified the 2010 bonus and 2011 base salary of John C. Martin, Ph.D., the Company's Chairman and Chief Executive Officer. The approved 2010 bonuses and 2011 base salaries for the Executive Officers are as follows: http://www.implu.com/story/19670 http://www.implu.com/story/19669 On January 24, 2011, CVS Caremark Corporation ("CVS Caremark" or the "Company") announced that, in furtherance of its previously announced CEO succession plan, Thomas M. Ryan is transitioning out of his position as the Company's Chief Executive Officer effective March 1, 2011. Larry J. Merlo, currently President and Chief Operating Officer, will become President and Chief Executive Officer of CVS Caremark on that date. Mr. Ryan is expected to remain non-executive Chairman of the CVS Caremark Board of Directors (the "Board") until the Company's May 2011 Annual Meeting of Stockholders, at which time he will retire from the Board and current Board member David W. Dorman will be named non-executive Chairman of the Board. CVS Caremark issued a press release on January 24, 2011 announcing Mr. Ryan's impending retirement and Mr. Merlo's promotion. The full text of the release is attached as Exhibit 99.1 to this Current Report on Form 8-K. http://www.implu.com/story/19669 http://www.implu.com/story/19665 On January 18, 2011, the Compensation and Human Resources Committee (the "Committee") of the Board of Directors of King Pharmaceuticals, Inc. ("King") undertook its annual review of, and approved, the performance goals for King's Executive Management Incentive Awards program (the "2011 EMIA"), which defines the parameters under which certain executives of King will be eligible to receive cash awards for achievement of certain accomplishments during 2011. Under the 2011 EMIA, adopted pursuant to the King Pharmaceuticals, Inc. Incentive Plan, awards to executive officers (as defined by the Securities Exchange Act of 1934 and referred to in this document as "Executive Officers") and other participating executives will be based upon achievement of a financial objective (the "Financial Objective"). Under the terms of the 2011 EMIA, the Committee has established and approved the Financial Objective and must approve any amendments to that objective. Potential EMIA awards for Executive Officers are based upon a prospective financial goal, the accomplishment of which is substantially uncertain at the time of its establishment. Payment of any 2011 EMIA award is contingent upon the Committee's determination that the Financial Objective has been met, and at what achievement level that objective has been met. In addition, in order to receive a 2011 EMIA award, the EMIA Participant must, except for certain circumstances, continue to be employed by King on December 31, 2011. The Committee, in its discretion, may reduce or eliminate any EMIA award if it determines such action to be in the best interests of King. The Committee may also amend or terminate the 2011 EMIA program. http://www.implu.com/story/19665 http://www.implu.com/story/19664 In connection with the management changes that Google Inc. announced on January 20, 2011, the members of the Leadership Development and Compensation Committee of Google's Board of Directors (LDCC) approved equity awards for Eric Schmidt in the aggregate amount of $100 million on January 21, 2011. Consistent with Google's equity-granting practice, stock options and Google Stock Units (GSUs) will be granted in the ratio of two stock options for each GSU, which will result in a GSU grant value of approximately $55.6 million and an option grant value of approximately $44.4 million. The equity awards will be granted on February 2, 2011 (the first Wednesday of the month following the date on which the LDCC approved the grant) and will vest over a four-year period. The exact number of GSUs comprising the equity award will be calculated by dividing the GSU grant value by the closing price of Google's Class A common stock on February 1, 2011. The exact number of stock options comprising the equity award will be calculated by dividing the option grant value by 40% of the closing price of Google's Class A common stock on February 1, 2011. Both equity awards will be rounded up to the nearest whole share. http://www.implu.com/story/19664 http://www.implu.com/story/19663 On January 18, 2011, the Compensation Committee of Coventry Health Care, Inc. (the "Company") approved the Company's 2011 Executive Management Incentive Plan (the "2011 EMIP"). The 2011 EMIP is administered by the Compensation Committee of the Company. Subject to the terms of the 2011 EMIP, the Compensation Committee of the Company has full power and authority to determine the eligible participants under the 2011 EMIP and the applicable performance thresholds and the performance measurements that apply to each award. The Compensation Committee of the Company determined that all named executive officers of the Company are eligible to participate in the 2011 EMIP. The 2011 EMIP provides that performance measurements for executive officers may be based on the achievement of one or more of the following six financial objectives: earnings per share, revenue, operating earnings, membership growth, SG&A and earnings growth. The Compensation Committee has determined that performance measurements for 2011 will be based on earnings per share, revenue and SG&A. The Compensation Committee will establish the specific target awards for each executive officer, which may be greater or less than 100% of each executive officer's base salary. The 2011 EMIP provides the Compensation Committee with full authority to amend, suspend or waive such rules and regulations it deems appropriate in administering the 2011 EMIP. http://www.implu.com/story/19663 http://www.implu.com/story/19662 WILLIAM GREEN, becomes a Director at MCGRAW-HILL COMPANIES($MHP) http://www.implu.com/story/19662 http://www.implu.com/story/19661 GRAHAM ATKINSON, becomes SENIOR VICE PRESIDENT at WALGREEN ($WAG) http://www.implu.com/story/19661 http://www.implu.com/story/19660 CHARLES SHAMIAH, SENIOR VICE PRESIDENT at AMERICAN INTERNATIONAL GROUP ($AIG) is now on implu http://www.implu.com/story/19660 http://www.implu.com/story/19659 GRACE COWAN, SR. VP CUSTOMER EXPERIENCE at WASTE MANAGEMENT($WM) is now on implu http://www.implu.com/story/19659 http://www.implu.com/story/19654 On January 18, 2011, the Personnel and Compensation Committee of the Board of Directors of Citigroup Inc. approved an increase in the annual rate of base salary for CEO Vikram Pandit from $1 per year to $1,750,000 per year, effective immediately. Richard Parsons, Chairman of the Board of Citigroup Inc., said that "the Board is very pleased with the progress that the company has made under Vikram's leadership. Vikram has worked tirelessly to put Citi back on the right track, spearheading a restructuring that has returned the company to profitability and positioning the company for future growth. In light of these highly positive accomplishments, the base salary established for Vikram is merited." http://www.implu.com/story/19654 http://www.implu.com/story/19653 CIT Group Inc., (the "Company") has revised the compensation structure for its chief executive officer, John A. Thain. For 2010, Mr. Thain received bi-monthly grants of restricted stock units with an annualized value of $5.5 million (often referred to as "stock salary"). For 2011, the Company has eliminated the stock salary component of Mr. Thain's compensation and in its place has approved a one-time grant of $5.5 million of restricted stock units, the terms of which will be consistent with restricted stock units granted to other employees. Additionally, for 2011, Mr. Thain will be eligible for a discretionary cash incentive award based on 2011 performance with a target value of $1.5 million. Mr. Thain's 2011 annual cash salary of $500,000 and total target compensation remains consistent with 2010. http://www.implu.com/story/19653 http://www.implu.com/story/19652 On January 18, 2011, the Compensation Committee (the "Committee") of the Board of Directors of Broadcom Corporation (the "Company") adopted a Restricted Stock Units Incentive Award Program (the "Program"). Certain of the Company's executives will be designated as participants in the Program, in the sole discretion of the Committee. The Program was adopted under, and all awards and grants of the Program shall be pursuant to, the Broadcom Corporation 1998 Stock Incentive Plan, as amended and restated. The Committee has designated the first performance cycle under the Program to be January 1, 2010 through December 31, 2010. http://www.implu.com/story/19652 http://www.implu.com/story/19651 On January 20, 2011, the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Boston Properties, Inc. (the "Company") approved outperformance awards under the Plan to officers and key employees of the Company. These awards (the "2011 OPP Awards") are part of a broad-based, long-term incentive compensation program, generally referred to as an "outperformance plan," designed to provide the Company's management team at several levels within the organization with the potential to earn equity awards subject to the Company creating shareholder value in a pay-for-performance structure. In 2008, the Committee implemented a similar program whereby recipients of 2008 outperformance awards would share in an outperformance pool if the Company's total return to shareholders ("TRS"), including both share appreciation and dividends, exceeds absolute and relative hurdles over the period from February 5, 2008 to February 5, 2011. Recipients of 2008 outperformance awards are not expected to earn any rewards under the 2008 program. http://www.implu.com/story/19651 http://www.implu.com/story/19650 On January 19, 2011, the Board of Directors (the "Board") of Akamai Technologies, Inc. ("Akamai" or the "Company") elected Pamela L. Craig as a director to fill a newly-created vacancy on the Board, effective on April 1, 2011 (the "Effective Date"). Ms. Craig was designated as a Class II member of the Board and was elected to serve until the 2013 Annual Meeting of Stockholders or until her successor is duly appointed and qualified. Ms. Craig is the Chief Financial Officer of Accenture, a publicly-traded global management consulting, technology services and outsourcing company. Ms. Craig was recommended to the Board by its Nominating and Corporate Governance Committee in accordance with the provisions of the Nominating and Corporate Governance Committee Charter. There are no arrangements or understandings between Ms. Craig and any other person pursuant to which she was elected as a director. Ms. Craig has not yet been designated to serve on any committees of the Board. There are no transactions in which Ms. Craig has an interest requiring disclosure under Item 404(a) of Regulation S-K of the Securities Act of 1933, as amended. http://www.implu.com/story/19650 http://www.implu.com/story/19649 KATHERINE RAMUNDO, VP DEP GEN COUNSEL & ASST SEC at COLGATE PALMOLIVE ($CL) is now on implu http://www.implu.com/story/19649 http://www.implu.com/story/19648 VICKY GREGG, a Director at FIRST HORIZON NATIONAL ($FHN), is now on implu http://www.implu.com/story/19648 http://www.implu.com/story/19647 On January 20, 2011, the Company announced that lead Director Warren E. Buffett will not stand for re-election at the Company's 2011 Annual Meeting of Shareholders. Mr. Buffett will continue to serve until the expiration of his current term on May 12, 2011. http://www.implu.com/story/19647 http://www.implu.com/story/19646 On January 20, 2011, the Board of Directors of Hewlett-Packard Company ("HP") elected Shumeet Banerji, Chief Executive Officer of Booz & Company; Gary M. Reiner, former Chief Information Officer of General Electric Company and current Special Advisor to private equity firm General Atlantic; Patricia F. Russo, former Chief Executive Officer of Alcatel-Lucent; Dominique Senequier, Chief Executive Officer of AXA Private Equity; and Margaret C. Whitman, former President and Chief Executive Officer of eBay Inc., to serve as directors of HP effective on January 21, 2011 (the "Effective Date"). The five new directors will stand for re-election at HP's next annual meeting of stockholders, which is scheduled to be held on March 23, 2011 (the "Stockholder Meeting"). None of the new directors has been named to serve on any committee of the Board, and the information about whether any of the new directors is expected to be named to serve on any committees of the Board has not been determined or is unavailable at the time of this filing. http://www.implu.com/story/19646 http://www.implu.com/story/19645 On January 20, 2011, Google Inc. ("Google") is issuing a press release and holding a conference call regarding its financial results for the quarter and the fiscal year ended December 31, 2010. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K. This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Google is making reference to non-GAAP financial information in both the press release and the conference call. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached press release. http://www.implu.com/story/19645 http://www.implu.com/story/19644 On January 18, 2011, the Board of Directors ("Board") of First Horizon National Corporation (the "Company") elected Vicky B. Gregg to the Board, effective immediately. Ms. Gregg also has been elected to the Board of Directors of First Tennessee Bank National Association (the "Bank"). Ms. Gregg will stand for election to the Board of the Company by the shareholders at the April 2011 annual meeting. Ms. Gregg is the Chief Executive Officer of BlueCross BlueShield of Tennessee (BCBST), a provider of group and individual health insurance plans, products, and services headquartered in Chattanooga, Tennessee. Ms. Gregg has been with BCBST since 2003. Prior to joining BCBST, Ms. Gregg served as Regional Vice President of Humana Inc. in Kentucky and Ohio. http://www.implu.com/story/19644 http://www.implu.com/story/19643 At its meeting on January 13, 2011, the Board of Directors of Colgate-Palmolive Company (the "Company") elected Victoria Dolan, currently Vice President, Finance and Strategic Planning for the Company's European Division, as Vice President and Corporate Controller of the Company effective February 1, 2011. Ms. Dolan, 51, joined the Company in 2008 from Marriott International, Inc. ("Marriott"), where she served as Executive Vice President, Finance and Chief Financial Officer of its vacation ownership division, responsible for the division's global finance and accounting as well as its asset management organization. Ms. Dolan joined Marriott in 2000 as Senior Vice President of Finance for Marriott's international lodging division. Prior to joining Marriott, Ms. Dolan spent nine years at The Coca-Cola Company in numerous leadership positions that included Chief Financial Officer and Executive Vice President for the Japan division. In connection with her election as Vice President and Corporate Controller, the Board of Directors of the Company granted an award of 5,000 shares of restricted stock to Ms. Dolan under the Company's stockholder-approved 2009 Executive Incentive Compensation Plan. http://www.implu.com/story/19643 http://www.implu.com/story/19640 TADATAKA YAMADA, becomes Director at AGILENT TECHNOLOGIES ($A) http://www.implu.com/story/19640 http://www.implu.com/story/19639 REX JACKSON, becomes SVP, BUSINESS SERVICES at JDS UNIPHASE ($JDSU) http://www.implu.com/story/19639 http://www.implu.com/story/19638 ANDREW POLLACK, VP, GENERAL COUNSEL at JDS UNIPHASE ($JDSU) is now on implu http://www.implu.com/story/19638 http://www.implu.com/story/19637 On January 12, 2011, the Board of Directors of Tesoro Corporation (the "Company") approved and adopted a new Severance and Change-in-Control Plan (the "Plan") effective January 12, 2011. The Plan reduces uncertainty to select executives of the Company and its subsidiaries in the event of certain fundamental events involving the control or existence of the Company as well as provides a benefit in the event of the termination of employment of certain executives, including G. Scott Spendlove, Senior Vice President, Chief Financial Officer and Treasurer, under certain conditions that are beyond the executive's control. The Plan does not impact employees who are covered by a separate change-in-control agreement. The Plan is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. http://www.implu.com/story/19637 http://www.implu.com/story/19636 On January 14, 2011, SLM Corporation (the "Company") and the related parties to the Company's asset-backed commercial paper ("ABCP") facility entered into an amendment to the existing agreement expanding the size and extending the multi-year ABCP facilities (the "Facility") which will continue to provide funding for the Company's federally-guaranteed student loans. The Facility amount is $7.5 billion reflecting an increase of $2.5 billion over the previously scheduled facility reduction. The scheduled maturity date of the facility is January 10, 2014. The company paid fees of $2 million. The usage fee for the Facility remains unchanged at 0.50 percent over the applicable funding rate. The amended facility features two contractual reductions over the term. The first reduction is on January 13, 2012, to $5.0 billion. The second reduction is on January 11, 2013, to $2.5 billion. If the company fails to reduce the facility at either trigger point, the usage fee increases to a maximum of 2.00% over the applicable funding rate. If liquidity agreements are not renewed on the trigger dates the usage fee increases to 1.00 percent over the applicable funding rate on January 13, 2012 and 1.50 percent over the applicable funding rate on January 11, 2013. http://www.implu.com/story/19636 http://www.implu.com/story/19635 On January 12, 2011, the Board of Directors (Board) of EOG Resources, Inc. (EOG) promoted William R. Thomas to the position of Senior Executive Vice President, Exploitation, effective as of February 1, 2011. Mr. Thomas, 58, has served as Executive Vice President and General Manager of EOG's Fort Worth, Texas office since February 2007 and, from June 2004 to February 2007, served as Senior Vice President and General Manager of EOG's Fort Worth, Texas office. http://www.implu.com/story/19635 http://www.implu.com/story/19633 On January 17, 2011, Apple Inc. ("Apple") issued a media advisory announcing Chief Executive Officer Steve Jobs's medical leave of absence. As CEO, Mr. Jobs will remain involved in major strategic decisions during this leave of absence, and Chief Operating Officer Tim Cook will be responsible for Apple's day to day operations. The media advisory is attached hereto as Exhibit 99.1 and is incorporated by reference herein in its entirety. In satisfaction of the disclosure required pursuant to Sections 401(b) and 401(e) of Regulation S-K, the section of the Company's 2011 Proxy Statement, filed with the SEC on January 7, 2011, entitled "Executive Officers" is incorporated by reference herein. With respect to the disclosure required pursuant to Section 401(d) of Regulation S-K, there are no family relationships between Mr. Cook and any director or executive officer of Apple. With respect to Section 404(a) of Regulation S-K, there are no relationships or related transactions between Mr. Cook and Apple that would be required to be reported. http://www.implu.com/story/19633 http://www.implu.com/story/19632 On January 12, 2011, the Board of Directors of Agilent Technologies, Inc. (the "Company"), upon the recommendation of its Nominating/Corporate Governance Committee, increased the size of the Board of Directors from 8 to 9 members and elected Dr. Tadataka Yamada to the vacancy created. Dr. Yamada was elected to serve in the class of directors that will stand for re-election at the 2013 Annual Meeting of Stockholders. Dr. Yamada will serve on the Compensation Committee and Nominating/Corporate Governance Committee of the Company's Board of Directors. http://www.implu.com/story/19632 http://www.implu.com/story/19631 On January 13, 2011, the Board of Directors (the "Board") of The AES Corporation (the "Company") appointed Dr. Kristina Johnson to the Board and its Compensation Committee. Dr. Johnson, who was a member of the Board from April of 2004 until April of 2009, will participate in the non-employee director compensation arrangements described in the Company's 2010 annual proxy statement filed with the Securities and Exchange Commission on March 10, 2010. For the 2010-2011 Board year, Dr. Johnson will receive pro rata compensation based on 98 days served during the Board calendar year. On January 18, 2011, the Company issued a press release announcing the appointment of Dr. Johnson. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. http://www.implu.com/story/19631 http://www.implu.com/story/19614 STEVEN ELLIOTT, becomes a Director at HUNTINGTON BANCSHARES ($HBAN) http://www.implu.com/story/19614 http://www.implu.com/story/19613 HEATH MONESMITH, VICE PRESIDENT HUMAN RESOURCES at COOPER INDUSTRIES ($CBE) is now on implu http://www.implu.com/story/19613 http://www.implu.com/story/19612 RICHARD EUBANKS, PRESIDENT, COOPER LIGHTING at COOPER INDUSTRIES ($CBE) is now on implu http://www.implu.com/story/19612 http://www.implu.com/story/19611 DENIS CASHMAN, CHIEF ACCTG OFF & COO, FINANCE at EMC CORP ($EMC) is now on implu http://www.implu.com/story/19611 http://www.implu.com/story/19610 On January 11, 2011, Charles F. Farrell, Jr., informed Sealed Air Corporation (the Company) and the Nominating and Corporate Governance Committee of the Company's Board of Directors that he will retire and not stand for re-election as a director at the next Annual Meeting of Stockholders. He will continue to serve as a director for the remainder of his current term. The Company plans to hold its next Annual Meeting of Stockholders on Wednesday, May 18, 2011 http://www.implu.com/story/19610 http://www.implu.com/story/19609 On January 7, 2011, Troy H. Risch's role as Executive Vice President - Stores terminated, and his employment with Target will terminate on January 15, 2011. In connection with this event, Mr. Risch is entitled to Target's standard officer severance arrangement pursuant to the Target Corporation Officer Income Continuance Policy Statement (ICP). In addition to the terms of the ICP, Mr. Risch is entitled to receive up to an additional $1 million if he complies with certain post-termination agreements, including an agreement not to become employed by specified competitors of Target, which amount will be paid over a period of two years subject to continued compliance with the post-termination agreements. http://www.implu.com/story/19609 http://www.implu.com/story/19608 On January 13, 2011, Morgan Stanley announced that Kenneth M. deRegt, currently Chief Risk Officer, will become the Global Head of Fixed Income Sales and Trading (ex Commodities), and will no longer be the Chief Risk Officer. Keishi Hotsuki, currently Head of the Market Risk Department, will become Interim Chief Risk Officer. http://www.implu.com/story/19608 http://www.implu.com/story/19607 (b) and (c) On January 10, 2011, Dell Inc. ("Dell") named Steve Schuckenbrock as President, Dell Services, to succeed Peter Altabef in that position effective on such date. Mr Altabef will remain employed with Dell as an executive leader in Dell Services until March 31, 2011 while he assists in the transition. Mr. Schuckenbrock, age 50, joined Dell in January 2007 as Senior Vice President and President, Global Services. In September 2007, he assumed the additional role of Chief Information Officer, and served in those roles until January 2009, when he assumed his position as President, Large Enterprise. In those roles, Mr. Shuckenbrock was responsible for all aspects of our services business, with worldwide responsibility for Dell enterprise service offerings, and was also responsible for Dell's global information systems and technology structure. Prior to joining Dell in 2007, Mr. Schuckenbrock served as Co-Chief Operating Officer and Executive Vice President of Global Sales and Services for Electronic Data Systems Corporation ("EDS"). Before joining EDS in 2003, he was Chief Operating Officer of The Feld Group, an information technology consulting organization. Mr. Schuckenbrock served as Global Chief Information Officer at PepsiCo from 1995 to 2000. Mr. Schuckenbrock earned a Bachelor's degree in Business Administration from Elon University. (e) On January 12, 2011, Mr. Altabef and Dell entered into a Separation Agreement and Release (the "Separation Agreement"), dated as of such date, in connection with Mr. Altabef's departure from Dell as described in Item 5.02(b) of this report. On or after March 31, 2011, under the terms of the Separation Agreement and consistent with Dell's standard executive severance package, Mr. Altabef will receive a lump-sum severance payment of $1.35 million, an incentive plan payment of 455,470 shares of Dell common stock and a payment of $10,000 related to health insurance costs. Mr. Altabef also will receive his vested balances in any Dell benefit plan consistent with the provisions of each such plan. http://www.implu.com/story/19607