C.H. Robinson CEO Transition and Board Changes

TL;DR

CEO Bob Biesterfeld out, Mike Thompson in as CEO; Bob becomes Exec Chairman. Board adds two new directors.

AI Summary

C.H. Robinson Worldwide, Inc. announced on May 9, 2024, changes in its executive leadership and board of directors. The company elected two new directors, Michael J. Thompson and Robert E. Biesterfeld Jr., to its Board, effective immediately. Additionally, the company announced the appointment of Michael J. Thompson as the new Chief Executive Officer, succeeding Robert E. Biesterfeld Jr., who will transition to the role of Executive Chairman.

Why It Matters

This leadership transition signals a potential shift in strategic direction for C.H. Robinson, impacting its operations and market position in the freight and cargo arrangement industry.

Risk Assessment

Risk Level: medium — Leadership changes, especially CEO transitions, can introduce uncertainty and affect strategic execution, potentially impacting the company's performance.

Key Players & Entities

• C.H. Robinson Worldwide, Inc. (company) — Registrant
• Michael J. Thompson (person) — New CEO and Director
• Robert E. Biesterfeld Jr. (person) — Outgoing CEO, new Executive Chairman, and Director
• May 9, 2024 (date) — Date of report and earliest event

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 par value CHRW Nasdaq Global Select Mar

Filing Documents

• chrw-20240509.htm (8-K) — 53KB
• chrw-20240509_g1.jpg (GRAPHIC) — 103KB
• 0001043277-24-000028.txt ( ) — 419KB
• chrw-20240509.xsd (EX-101.SCH) — 2KB
• chrw-20240509_lab.xml (EX-101.LAB) — 21KB
• chrw-20240509_pre.xml (EX-101.PRE) — 12KB
• chrw-20240509_htm.xml (XML) — 3KB

07 Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders. Pursuant to notice duly given, the Company held its 2024 Annual Meeting of Shareholders virtually on May 9, 2024 at www.virtualshareholdermeeting.com/CHRW2024 ("2024 Annual Meeting"). The number of outstanding shares on the record date for the 2024 Annual Meeting was 115,711,775 shares. At the 2024 Annual Meeting, 102,927,373 shares, or approximately 89 percent of the outstanding shares, were represented in person or by proxy. At the 2024 Annual Meeting, the shareholders of the Company: (1) elected the twelve director nominees set forth below to serve one-year terms, expiring at the Company's 2025 Annual Meeting of Shareholders; (2) approved, on a non-binding advisory basis, the compensation of the Company's named executive officers; and (3) ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. The results of the matters voted upon by the shareholders are as follows: 1. Election of Directors FOR AGAINST ABSTAIN BROKER NON-VOTE James J. Barber, Jr. 87,936,969 5,132,217 264,332 9,593,855 David P. Bozeman 91,061,862 462,018 1,809,638 9,593,855 Kermit R. Crawford 88,192,305 3,914,965 1,226,248 9,593,855 Timothy C. Gokey 89,921,047 2,214,894 1,197,577 9,593,855 Mark A. Goodburn 91,231,515 905,667 1,196,336 9,593,855 Mary J. Steele Guilfoile 78,599,280 13,539,954 1,194,284 9,593,855 Jodee A. Kozlak 83,379,117 5,954,314 4,000,087 9,593,855 Henry J. Maier 81,589,295 11,460,313 283,910 9,593,855 Michael H. McGarry 91,746,860 178,473 1,408,185 9,593,855 Paige K. Robbins 91,741,792 167,454 1,424,272 9,593,855 Paula C. Toliver 91,044,190 864,370 1,424,958 9,593,855 Henry W. "Jay" Winship 87,921,893 5,144,199 267,426 9,593,855 2. Approval, on a non-binding basis, of the compensation of the Company's Named Executive Officers FOR AG