Business Context and Reporting Period
This Form 8-K is a current report filed by the Tennessee Valley Authority, a corporate agency of the United States, on January 3, 2017. The report addresses corporate governance changes specifically regarding the departure of Board of Directors members.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to Item 5.02 regarding officer departures and contains no financial data.
Material Changes
The primary material change reported is the conclusion of the terms for three members of the TVA Board of Directors:
- C. Peter Mahurin
- Michael R. McWherter
- Joe H. Ritch
Their terms, which began in 2013 and originally expired on May 18, 2016, were extended under the TVA Act to serve until the adjournment of the second session of the 114th Congress. Their service officially ended on January 3, 2017.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The document is strictly a notification of the Board members' departure.
Key Facts for Investor Verification
- Verify the appointment of new Board members to replace the three departing directors.
- Confirm the effective date of the new Board composition following the January 3, 2017 adjournment.
- Note that this filing does not impact the company's financial statements or operational outlook directly.