Business Context and Reporting Period
This Form 8-K Current Report was filed by The Clorox Company on September 11, 2012. The filing addresses corporate governance changes regarding the Board of Directors, specifically the resignation of a director and the appointment of a new lead director.
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 personnel changes and does not contain financial performance data.
Material Changes
- Director Resignation: Gary G. Michael resigned from the Board of Directors, effective November 14, 2012. Mr. Michael, who served as Lead Director since 2001, tendered his resignation in accordance with Corporate Governance Guidelines requiring non-management directors to step down prior to the Annual Meeting where they turn 72.
- Lead Director Appointment: Robert W. Matschullat was elected to the role of Lead Director, effective November 14, 2012. Mr. Matschullat has been a director since 1999.
- Reason for Change: The filing explicitly states that Mr. Michael's decision not to stand for re-election is not a result of any disagreement with the Company.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, outlook, management commentary on operations, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Confirm the effective date of the leadership transition (November 14, 2012).
- Verify the tenure of the incoming Lead Director, Robert W. Matschullat (since 1999).
- Note that the departure of Gary G. Michael is a planned succession event based on age guidelines, not a dispute.