LyondellBasell Files 8K - Other Events
February 23 2017 - 4:58PM
Dow Jones News
LyondellBasell Industries N.V. (LYB) filed a Form 8K - Other
Events - with the U.S Securities and Exchange Commission on
February 16, 2017.
On February 16, 2017, the Board approved, upon the
recommendation of the Nominating & Governance Committee,
certain revisions to the Company's Corporate Governance Guidelines
and the Rules of the Supervisory Board. The changes to these
documents are a result of the Supervisory Board's decision that,
beginning with the 2017 annual meeting of shareholders, all members
of the Supervisory Board will be elected annually. Members of the
Supervisory Board have previously been elected in classes, with
each class of directors elected for a term of three years.
The amendments to the Corporate Governance Guidelines and the
Rules of the Supervisory Board specify that beginning with the
annual meeting in 2017, all directors will be elected for a term of
one year.
Additionally, the Rules of the Supervisory Board were amended to
state that the size of the Supervisory Board will be no less than
three and no more than twelve members. The Rules had previously
provided for a maximum size of eleven directors.
In connection with the decision to declassify the Supervisory
Board beginning with the 2017 annual meeting of shareholders,
certain members of our Supervisory Board have agreed to relinquish
the remaining length of their three-year terms at the annual
meeting scheduled for May 2017.
Robin Buchanan, Steve Cooper, Bob Gwin and Bella Goren are all
currently Class II directors and were elected by shareholders at
the annual meeting in 2015 for a term of three years, expiring at
the 2018 annual meeting. Jacques Aigrain, Bruce Smith, Nance
Dicciani and Lincoln Benet are all Class III directors that were
elected by shareholders in 2016 to serve until 2019. Because of the
Supervisory Board's decision to elect all directors for a term of
one year, these Class II and Class III directors agreed that they
will forego the remaining time left in their terms as of the 2017
annual meeting when they will be nominated for election for a term
of one year.
The Company's Corporate Governance Guidelines and the Rules of
the Supervisory Board can be found on the Company's website at
www.lyb.com.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/1489393/000119312517054011/d352272d8k.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/1489393/000119312517054011/0001193125-17-054011-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
(END) Dow Jones Newswires
February 23, 2017 16:43 ET (21:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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