Business Context and Reporting Period
This Form 8-K filing by Avery Dennison Corporation covers the Annual Stockholder Meeting held on April 25, 2013. The report details corporate governance changes, including director elections, retirements, and the ratification of the independent auditor.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and voting results rather than financial performance data.
Material Changes
- Director Retirement: Peter W. Mullin retired from the Board of Directors effective April 25, 2013, in accordance with the mandatory director retirement policy.
- Director Elections: Stockholders elected nine new directors to the Board: Bradley A. Alford, Anthony K. Anderson, Rolf L. Borjesson, John T. Cardis, David E. I. Pyott, Dean A. Scarborough, Patrick T. Siewert, Julia A. Stewart, and Martha N. Sullivan.
- Auditor Ratification: Stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the 2013 fiscal year.
Guidance, Outlook, and Management Commentary
The filing contains no management commentary regarding future guidance, outlook, risks, contingencies, or unusual items. It is a procedural report of the stockholder meeting outcomes.
Key Facts for Investor Verification
- Verify the successful election of all nine director nominees, noting that Martha N. Sullivan received the highest "For" vote count (84,059,247) and David E. I. Pyott received the highest "Against" vote count (3,998,074).
- Confirm the advisory approval of 2012 executive compensation, which received 77,321,503 "For" votes against 6,927,959 "Against" votes.
- Note the significant number of broker non-votes (5,208,825) recorded for all director elections and the executive compensation proposal.
- Confirm the ratification of PricewaterhouseCoopers LLP as the auditor for the 2013 fiscal year.