Saks 8-K 2012
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January 16, 2012
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code: (212) 940-5305
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 16, 2012, the Board of Directors (Board) of Saks Incorporated (the Company) accepted the resignations of Ronald de Waal from the Board and the Finance Committee of the Board and Christopher J. Stadler from the Board, the Human Resources and Compensation Committee of the Board and the Finance Committee of the Board. There were no disagreements with management.
On January 16, 2012, the Board appointed Jack L. Stahl to the Board to serve a term expiring at the Companys next Annual Meeting of Shareholders, at which time he is expected to be nominated for approval by the Companys shareholders. Mr. Stahl has also been appointed to the Audit Committee of the Companys Board. Mr. Stahl will receive compensation for his Board service consistent with the compensation received by the Companys other non-employee directors, prorated from the commencement of his service on the Board and Audit Committee.
Mr. Stahl is an independent director as defined under the listing standards of the New York Stock Exchange and the Companys Director Independence Additional Standards. There are no arrangements or understandings between Mr. Stahl and any other persons pursuant to which Mr. Stahl was selected as a director. Since the beginning of the Companys last fiscal year, Mr. Stahl has had no direct or indirect interest in any transaction to which the Company was a party.
On January 17, 2012, the Company issued the attached press release, which is furnished as Exhibit 99.1 and incorporated herein by reference.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.