O'Reilly Automotive, Inc. (ORLY, Financial) recently held its 2025 Annual Meeting of Shareholders on May 15, 2025, where several significant corporate governance and structural changes were announced. The shareholders elected Greg Henslee, David O’Reilly, Thomas T. Hendrickson, Kimberly A. deBeers, Gregory D. Johnson, John R. Murphy, Dana M. Perlman, Maria A. Sastre, and Fred Whitfield to the Board of Directors. These members will serve until the next annual meeting in 2026.
Following the meeting, Larry O’Reilly resigned from the Board in accordance with the company's mandatory retirement age policy. His resignation was accepted after his successor was duly elected.
In a notable development, shareholders approved an amendment to the company's Articles of Incorporation to increase the number of authorized shares of common stock from 245 million to 1.25 billion. This change facilitates a 15-for-1 stock split in the form of a special stock dividend. Shareholders of record as of June 2, 2025, will receive 14 additional shares for each share held, with distribution scheduled after market close on June 9, 2025. The company's common stock is expected to trade on a post-split basis starting June 10, 2025.
Additionally, the shareholders ratified the appointment of Ernst & Young LLP as the independent auditors for the fiscal year ending December 31, 2025.
These strategic decisions reflect O'Reilly Automotive's commitment to enhancing shareholder value and ensuring robust corporate governance. For more detailed insights and implications of these changes, visit GuruFocus.com.
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