Under the amended and restated bylaws, the Ducommun Board of Directors now permits a range of directors from six to ten until further adjustments are made through a bylaw amendment. Details of these changes are available in Exhibit 3.1 of the current report filed with the Securities and Exchange Commission (SEC).
In an effort to strengthen its board, on the same date, Ducommun appointed Daniel G. Korte as a Class I Director and Daniel L. Boehle as a Class III Director. Korte is set to serve until the 2025 annual stockholders’ meeting, while Boehle’s term extends until the 2027 annual stockholders’ meeting. These appointments bring valuable operational and financial expertise to Ducommun’s leadership team. Korte is allocated to the Corporate Governance and Nominating Committee, whereas Boehle will serve on the Audit Committee.
Ducommun further disclosed this information in a press release issued on November 7, 2024, regarding the recent board appointments. The press release is accessible as Exhibit 99.1 of the current report.
These strategic moves reflect Ducommun’s commitment to enhancing its corporate governance and leveraging the expertise of Korte and Boehle to drive value for shareholders. The additions come as part of the company’s VISION 2027 Strategy, aimed at achieving revenue and EBITDA margin growth targets.
The board refreshment process at Ducommun aligns with its overarching goal of maintaining a diverse and skilled board capable of guiding the company toward its strategic objectives. The appointment of Korte and Boehle follows a thorough search process conducted by the Corporate Governance and Nominating Committee in partnership with an external search firm.
This recent shift in directorship also marks the upcoming departure of Robert C. Ducommun and Dean M. Flatt, in line with Ducommun’s director retirement age policy. Their contributions to the company have been noted, with both directors overseeing significant organizational transformations that have positioned Ducommun for continued success.
Ducommun Incorporated is steadfast in its pursuit of sustained shareholder value and has complied with all necessary regulatory disclosures concerning these recent developments.
For more information about Ducommun Incorporated and its operations, visit Ducommun.com.
This press release may include forward-looking statements. Investors should remain mindful of the risks and uncertainties associated with such statements, as outlined in the company’s reports filed with the SEC.
CONTACTS:
Suman Mookerji, Senior Vice President, Chief Financial Officer, 657.335.3665
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ducommun’s 8K filing here.
Ducommun Company Profile
Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.
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