In a move to strengthen its governance, Robinhood Markets Inc. (NASDAQ: NASDAQ:HOOD) has expanded its board of directors by appointing Susan Segal as an independent director. Effective this Thursday, Segal will join the board and serve on the Nominating and Corporate Governance Committee as well as the Safety, Risk and Regulatory Committee.
The decision, announced yesterday, increases the board's size from eight to nine members. Segal's term will extend until Robinhood's 2024 annual meeting of stockholders. Her experience is expected to bolster the board's expertise in critical areas as the company navigates a complex regulatory environment.
As part of her role, Segal will be compensated according to the Non-Employee Director Compensation Program, details of which were outlined in the company's 2023 Proxy Statement filed with the SEC on April 28, 2023. Moreover, Robinhood has provided Segal with an indemnification agreement as per Exhibit 10.1 to the company's Amendment No. 1 to Form S-1 Registration Statement filed on July 19, 2021.
The company has confirmed that there are no prior arrangements or understandings between Segal and any other individuals that influenced her selection as a director. Furthermore, she has no familial ties with any current directors or executive officers at Robinhood, nor does she have any material interest in transactions that would require disclosure under SEC regulations.
This appointment comes as Robinhood continues to navigate the financial technology landscape, with an emphasis on compliance and corporate governance. Segal's addition to the board is part of Robinhood's ongoing efforts to enhance its leadership and strategic direction.
The information for this article is based on a recent SEC filing by Robinhood.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.