Business Context and Reporting Period
This Form 8-K Current Report was filed by the Tennessee Valley Authority (TVA), a corporate agency of the United States, on July 11, 2007. The report addresses Item 8.01 (Other Events) regarding the nomination of three individuals to serve on the TVA Board of Directors by President George W. Bush.
Key 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 corporate governance changes and does not contain financial performance data.
Material Changes
The material change reported is the nomination of three individuals to the TVA Board of Directors:
- Bishop William H. Graves (Memphis, Tennessee): Current director nominated for a new term expiring in 2012.
- Susan Richardson Williams (Knoxville, Tennessee): Current director nominated for a new term expiring in 2012.
- Thomas C. Gilliland (Blairsville, Georgia): New nominee. He is the Executive Vice President, Secretary, General Counsel, and Director for United Community Banks, Inc. (a bank holding company with approximately $8.0 billion in assets). If confirmed, his term would expire in 2011.
Outlook, Risks, and Contingencies
The confirmation of these nominees is contingent upon Senate approval. As of the filing date, confirmation hearings have not yet been scheduled. No other risks, contingencies, or management commentary regarding financial outlook are provided in this document.
Investor Verification Checklist
- Verify the status of Senate confirmation hearings for the three nominees.
- Confirm the final appointment dates and term expiration years for Bishop Graves, Ms. Williams, and Mr. Gilliland.
- Review subsequent filings for any financial data, as this 8-K contains no financial metrics.