Kimberly-Clark Corporation (KMB) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Stockholders of Kimberly-Clark Corporation. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Mike Hsu, Chairman and CEO of Kimberly-Clark. Mr. Shu, the floor is yours.

Okay. Thank you. Good morning, everyone, and welcome to Kimberly-Clark's Annual Meeting. This meeting is now called to order. I'd like to introduce Alison Rhoten, our Corporate Secretary, who will serve as the Secretary for today's meeting.

Thanks, Mike. I will first go over a few housekeeping matters. Today's virtual-only meeting is a live webcast. Through the meeting portal, you will find our agenda and rules of conduct. The portal also has links to our annual report and proxy materials for the meeting. A representative from our Inspector of Election is in attendance and has confirmed that a quorum is present today. If you have not voted or wish to change your vote, you may do so during the meeting by clicking the link provided online. Any stockholder who has already voted and does not want to change his or her vote, need not take any further action. We will accept votes until the polls close later in the meeting. Feel free to ask a question at any time during the meeting by clicking the message icon in the upper right-hand corner of the screen. We will respond to questions and comments later in the meeting after we close the polls. We have 3 proposals for today's meeting: number one, the election of 13 directors; number two, ratification of our independent auditors; and number three, approval of the compensation of our named executive officers. Each proposal is described in our 2022 proxy statement. I will now ask for a motion, Mr. Chairman, that the 3 proposals listed on the agenda be approved.

Moved.

I second the motion. Thank you, Mike. If you wish to vote at today's meeting, remember, you may do so by clicking on the link provided online. The polls are now open. [Voting]

I would now like to introduce our director nominees who are all in attendance on today's call, Sylvia Burwell; John Culver; Robert Decherd; Mike Shu, who is our Chairman; Mae Jemison; Todd Maclin; Deirdre Mahlan; Sherry McCoy; Christa Quarles; Jaime Ramirez; Dunia Shive; Mark Smucker; and Mike White. We would now like to take a moment to acknowledge Ian Read who will be retiring from our Board at the conclusion of this meeting. Ian has served on the Board for a number of years and has made many significant and long-lasting contributions to the Board, Kimberly-Clark and our shareholders. Also joining today's meeting are representatives of Deloitte, our independent auditor. Bill McFarland, who is the partner in charge of our 2022 audit, is in attendance. The polls are now closed. The inspectors have advised based on preliminary results that all 13 nominees have been elected to the Board and our stockholders have approved the proposals to ratify our independent auditors and approve our executive compensation. We will announce the final results in a Form 8-K filing with the SEC within 4 business days. It looks like we have not received any questions or comments during today's meeting. With that, I will thank you for your continuing support of Kimberly-Clark. The meeting is adjourned.

This concludes the meeting. You may now disconnect.