SAN DIEGO, Oct. 12, 2020 /PRNewswire/ -- WD-40 Company
(NASDAQ:WDFC) announced today that Neal E.
Schmale and Daniel E. Pittard
will retire from its board of directors as of the date of its next
annual meeting of stockholders, which is scheduled for Tuesday, December 8, 2020. In addition, the
Company announced that Lara L. Lee
has been nominated for election as a director.
In connection with Mr. Schmale's retirement, the board has
appointed Gregory A. Sandfort to
serve as lead independent director, effective immediately.
"We look forward to having Lara join our board and benefiting
from her diverse international management and marketing
experience," said Garry Ridge, chairman and chief executive
officer of WD-40 Company. "Moreover, we are delighted that Greg has
agreed to take on the additional responsibilities of lead
director. Greg has served on our board for over nine years
and has consistently demonstrated commitment to the highest
standards of governance practices."
"I'd like to also acknowledge our two board members who will not
stand for reelection this year, Neal and Dan. I
want to extend my thanks on behalf of the entire
board of directors for their many contributions to the
Company's success," concluded Ridge.
Ms. Lee most recently served as business unit president of
Lowe's Home Improvement for Lowe's Companies, Inc. Additional
details regarding Ms. Lee's experience will be included in the
Company's 2020 proxy statement for the annual meeting of
stockholders, expected to be filed with the Securities Exchange
Commission and first mailed to stockholders on or about
October 29, 2020.
Mr. Pittard has served as a director for 5 years. Mr.
Schmale has served as a director for 20 years, having previously
served as chairman of the board from 2004 to 2016. He was
designated to serve as lead independent director in December
WD-40 Company's board will be composed of 10 directors, six men
and four women, effective as of the annual meeting of stockholders
which is scheduled to take place virtually on December 8, 2020.
About WD-40 Company
WD-40 Company is a global
marketing organization dedicated to creating positive lasting
memories by developing and selling products that solve problems in
workshops, factories and homes around the world. The Company
markets its maintenance products and homecare and cleaning products
under the following well-known brands: WD-40®,
3-IN-ONE®, GT85®, X-14®, 2000
Flushes®, Carpet Fresh®, no vac®,
1001®, Lava® and
Headquartered in San Diego,
WD-40 Company recorded net sales of $423.4
million in fiscal year 2019 and its products are currently
available in more than 176 countries and territories worldwide.
WD-40 Company is traded on the NASDAQ Global Select market under
the ticker symbol "WDFC." For additional information about WD-40
Company please visit http://www.wd40company.com.
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SOURCE WD-40 Company