BlackRock, Inc.'s independent directors have made a request to Murry S. Gerber, the Lead Independent Director of the company, to stand for re-election at the upcoming Annual Meeting of Shareholders on May 15, 2024, and, if elected, to remain the Lead Independent Director for one additional year during the close and initial integration of BlackRock’s acquisition of Global Infrastructure Partners (GIP). Mr. Gerber has agreed to the request and will not stand for re-election in 2025.
The transaction to acquire GIP was announced on January 12, 2024, and is expected to close in the third quarter of the year, subject to customary closing conditions and regulatory approvals. In light of this transaction, the independent directors asked Mr. Gerber to stand for re-election and remain Lead Independent Director for an additional year during the close and initial integration of the GIP transaction.
Murry S. Gerber has been serving as Lead Independent Director since 2017 and has extensive knowledge and expertise in the energy and industrial sectors, with a 40-year career that included being the Chairman and CEO of integrated energy producer EQT Corporation. He also played a role in creating Coral Energy (now Shell Trading North America) and was the Treasurer of Shell Oil.
As a result of these announcements, the company's shares have moved -0.2% on the market, and are now trading at a price of $833.7. Check out the company's full 8-K submission here.
