Business Context and Reporting Period
This Form 8-K Current Report from Applied Materials, Inc. covers events occurring on March 22, 2006, and was filed on March 29, 2006. The report details corporate governance changes following the company's 2006 Annual Meeting of Stockholders.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on board of director elections and committee appointments.
Material Changes
Significant changes to the Board of Directors and committee structures were reported:
- Retirements: Herbert M. Dwight, Jr., Dan Maydan, and Paul R. Low retired from the Board.
- Elections: Nine directors were elected, including James C. Morgan, Michael R. Splinter, Michael H. Armacost, Deborah A. Coleman, Philip V. Gerdine, Thomas J. Iannotti, Charles Y.S. Liu, Gerhard H. Parker, and Willem P. Roelandts.
- Leadership Appointments: Michael H. Armacost was named Lead Independent Director. Deborah A. Coleman was appointed Ethics Ombudsman.
Committee Structure and Governance
The Board finalized one-year committee chair and membership appointments:
- Audit Committee: Chaired by Dr. Philip V. Gerdine (designated as audit committee financial expert). Members include Ms. Coleman and Dr. Parker.
- Human Resources and Compensation Committee: Chaired by Mr. Roelandts. Members include Messrs. Armacost and Iannotti.
- Corporate Governance and Nominating Committee: Chaired by Mr. Armacost. Members include Messrs. Iannotti and Roelandts.
- Strategy Committee: Chaired by Dr. Parker. Members include Ms. Coleman and Mr. Liu.
- Investment Committee: Chaired by Mr. Liu. Members include Ms. Coleman and Dr. Gerdine.
- Stockholder Rights Plan Review Committee: Chaired by Ms. Coleman. Members include Dr. Gerdine and Mr. Iannotti.
Key Facts for Investor Verification
- Verify the effective date of the new board composition and committee assignments.
- Confirm the specific roles of the newly appointed Lead Independent Director and Ethics Ombudsman.
- Note that the information in this Form 8-K is not incorporated by reference into other filings unless expressly stated.