Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 28, 2024, the Board of Directors (the “Board”) of Camping World Holdings, Inc. (the “Company”) elected Kathleen S. Lane as a Class II director of the Board, effective immediately. Ms. Lane has also been appointed to the Board’s Audit Committee, effective following the Company’s 2024 Annual Meeting of Stockholders.
Ms. Lane served as the Chief Information Officer at TJX Companies, a multinational off-price department store corporation, from 2008 to 2013. She also served as Chief Information Officer at National Grid, a multi-national electricity and gas provider for commercial and residential applications from 2006 to 2008. She has also had a breadth of experience within the consumer products industry, having started her career at The Proctor & Gamble Company. Ms. Lane then served as Chief Information Officer at Gillette and as director, technology services of Pepsi Cola International. She has served on the Board of Directors of Hanover Insurance Group, Inc., an insurance company, since September 2018. Ms. Lane previously served as a director of Bob Evans Farms, Inc., a publicly traded operator of over 500 restaurants and a producer and distributer of food products, from 2014 to 2018, Armstrong Flooring, Inc., a formerly publicly traded leading global producer of flooring products, from 2016 to 2023, and EarthLink Holdings, LLC, a managed network, security and cloud services provider, from 2013 to 2017. Ms. Lane’s experience in retail industries and as a Chief Information Officer provides the Company’s Board of Directors with valuable expertise in key focus areas and makes Ms. Lane well qualified to serve on the Company’s Board of Directors.
Ms. Lane will be compensated pursuant to the Company’s Non-Employee Director Compensation Policy, which provides for: an annual cash retainer of $100,000 for service on the Board, an annual cash retainer for service on the Audit Committee of $17,500 and an annual award of restricted stock units to be awarded on and that have an aggregate fair value of $150,000 on the date of the 2024 Annual Meeting of Stockholders. In addition, Ms. Lane will receive an initial grant of restricted stock units having an aggregate fair value of $20,524, which is calculated as $150,000 pro-rated to exclude the number of days in the period beginning on the date of the 2023 Annual Meeting of Stockholders through the date of her election from 365 days, rounded down to the nearest whole share.
