Butler National Corporation announced that its Board of Directors adopted new Corporate Governance Guidelines on July 17, 2025. These guidelines are designed to promote a sound Board structure and best practices in governance. The new policies codify existing practices such as director and officer stock ownership guidelines and annual performance reviews for the Board and CEO.
A significant new policy established is a mandatory retirement age for directors, requiring them to step down following their 75th birthday. Executive Chairman Jeffrey D. Yowell stated that this age limitation is a strategic move to cultivate fresh perspectives and support effective leadership succession, aligning with the corporation's evolving needs.
The adoption of these guidelines is part of a broader effort over the past year to strengthen corporate governance. This includes moving towards annual elections of all directors, removing the poison-pill (shareholder rights plan), electing a Lead Independent Director, separating the roles of the Chairman of the Board and the Chief Executive Officer, and adopting a majority vote standard for uncontested director elections.
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