Business Context and Reporting Period
This Form 8-K filing by Commerce Bancshares, Inc. (Missouri) covers the reporting period of January 26, 2018. The report addresses a corporate governance event involving the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding personnel changes and does not contain financial statements or performance metrics.
Material Changes
The material change reported is the appointment of a new director to the Board of Commerce Bancshares, Inc. to fill a vacancy created by the resignation of Mr. James B. Hebenstreit.
Management Commentary and Governance
- Appointment: Ms. Karen L. Daniel was appointed to the Board on January 26, 2018.
- Term: Ms. Daniel will serve the remainder of Mr. Hebenstreit's term through 2020.
- Committee Assignment: Ms. Daniel will serve on the Audit and Risk Committee.
- Background: Ms. Daniel is the Chief Financial Officer and President of the Global Finance & Technology Solutions Division at Black & Veatch. She previously served as Senior Audit Manager at Peat Marwick (KPMG) and holds a master's degree in accounting from the University of Missouri-Kansas City.
Key Facts for Investor Verification
- Verify the effective date of Mr. James B. Hebenstreit's resignation.
- Confirm Ms. Karen L. Daniel's tenure on the Audit and Risk Committee.
- Review the full Board composition to assess the impact of this change on committee quorums.