Vermeer Corporation was honored with the 2019 Private Board of the Year Award at the 2019 Private Company Governance Summit on June 6 in Washington, D.C.
The summit recognizes private company boards that best serve their stakeholders – owners, shareholders, employees and community – with best practices in their structure and performance. The company was selected for going above and beyond by committing to the highest level of governance.
The company was noted for their outstanding practices, including a majority independent board, attention to enterprise risk management that predicts and plans for challenges, mandatory retirement from the board at age 70, chair leadership that is encouraged to challenge the agenda and a detailed, written shareholder director qualification and development process for potential interested shareholders.
Chair of the Board Mary Andringa accepted the award on the company’s behalf.
“This award represents the decades of leadership and dedication the board of directors – both independent and Vermeer family shareholders – have worked so hard for,” said Adringa. “The vision to work together and make tough decisions for the sake of a successful future for the business is evident. We are honored by this award and proud to lead the way for decades to come.”