Summary by Moomoo AI
Zoom Video Communications, Inc. announced on August 23, 2024, a change to its Board of Directors. The company has increased the number of directors from nine to ten and appointed Mike Fenger as a new board member. Fenger, who currently serves as the Vice President of Worldwide Sales at Apple Inc., will serve as a Class III director until the 2025 annual meeting of stockholders and will also join the Nominating and Corporate Governance Committee. With a background that includes senior roles at General Electric Company and Motorola, Inc., Fenger brings extensive experience in sales, operations, marketing, and supply chain management. His son, Robert Fenger, is employed by Zoom as an Executive Briefing Manager since 2020, but is not an executive officer. The company clarified that Robert's compensation is in line with its standard practices for employees of similar qualifications and responsibilities. Mike Fenger has also entered into the company's standard indemnification agreement and will be compensated according to Zoom's Non-Employee Director Compensation Policy.
