Maplebear Inc., operating under the trade name 07 Trade & Services, announced on Monday the expansion of its Board of Directors and the appointment of Mary Beth Laughton as a Class I director with immediate effect. The decision was made by the Board on Thursday, following a recommendation from the Nominating and Corporate Governance Committee.
Laughton, with over two decades of experience in leading consumer brands, joined the Maplebear board with a wealth of expertise from her current role as Head of Nike (NYSE:NKE) Global Direct to Consumer since August 2023 and her former position as President and CEO of Athleta LLC, a Gap Inc (NYSE:GPS). brand, from October 2019 to March 2023. Her previous tenure at Sephora USA Inc. and Nike in various capacities adds to her strong background in strategy, merchandising, and e-commerce.
The term of Ms. Laughton's directorship will extend until the 2027 Annual Meeting of Stockholders, unless she leaves her position earlier due to death, resignation, or removal. Maplebear Inc. clarified that there are no undisclosed arrangements or relevant transactions between the company and Laughton that would necessitate disclosure under SEC regulations.
As per Maplebear's policy for non-employee director compensation, detailed in the proxy statement filed on April 17, 2024, Laughton will receive remuneration in line with the company’s established guidelines.
Additionally, she has signed the standard indemnification agreement with the company, which provides directors with certain rights in the event of legal proceedings arising from their service to the company.
Maplebear Inc., which is incorporated in Delaware and headquartered in San Francisco, CA, is listed on the Nasdaq Global Select Market under the ticker symbol CART.
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