In a recent development at Oppenheimer Holdings (NYSE: OPY), two long-standing members of the Board of Directors, William J. Ehrhardt and A. Winn Oughtred, have announced their retirement. Both directors conveyed their decision not to seek re-election at the upcoming 2024 Annual Meeting of Stockholders scheduled for May.
Ehrhardt, who has been part of the Board since 2008, currently chairs the Audit Committee and serves on the Compensation and Compliance Committees. Oughtred, with a tenure beginning in 1979, is the chair of the Nominating and Corporate Governance Committee and also serves on the Compensation and Compliance Committees.
The company has stated that there are no disagreements between the retiring members and the company regarding its operations, policies, or practices. Furthermore, there has been no written correspondence concerning their retirement.
In conjunction with these departures, the Board has temporarily increased its size and elected Suzanne Spaulding as a director, effective today. With a distinguished background in national security and cybersecurity, Spaulding brings a wealth of experience to the Board.
Her resume includes a tenure as Senior Adviser at the Center for Strategic and International Studies and a significant role at the Department of Homeland Security as under secretary for the National Protection and Programs Directorate.
Spaulding's involvement extends to various boards and advisory roles, including at George Washington University's Center for Cyber & Homeland Security, Harvard University's Defending Digital Democracy project, and the National Association of Corporate Directors.
She has also served on the boards of several organizations, such as American Megatrends Inc., Hidden Level, Inc., Texas Reliability Entity, Inc., Defending Digital Campaigns, and Girl Security.
Her leadership experience is complemented by her academic credentials, with both a BA and a JD (NASDAQ:JD) from the University of Virginia. Spaulding is expected to contribute to the Nominating and Corporate Governance Committee and the Audit Committee and will participate in the Company's 2024 Incentive Plan alongside other directors.
This announcement, sourced from an 8K SEC filing, marks a significant transition in the governance of Oppenheimer Holdings as it continues to navigate the financial sector.
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