QVC Group Announces Board Restructuring Following Exit of Two Class III Directors

QVC Group, Inc. announced significant changes to its board composition in a recent SEC Form 8-K filing dated February 19, 2025. Andrea L. Wong notified the company that she will not stand for reelection as a board member. Wong, who serves as a Class III director, will continue to serve until the conclusion of her current term at the 2025 annual meeting of stockholders scheduled for May 12, 2025. The company stated that her decision was not the result of any dispute or disagreement with the company.

This announcement follows an earlier disclosure concerning John C. Malone, another Class III director, who also indicated that he would not seek reelection and will conclude his term at the upcoming annual meeting.

In connection with these departures, the board has approved a reduction in its size from nine to seven directors. The restructuring will take effect immediately following the 2025 annual meeting, once the current terms of both Malone and Wong have expired. Additionally, the board approved the redesignation of Richard N. Barton to a Class III director. Previously elected as a Class II director in the 2024 annual meeting, Barton will now stand for election at the 2025 annual meeting. This move is designed to ensure that, as stipulated in the company’s Restated Certificate of Incorporation, each director class will consist, as nearly as possible, of one-third of the total authorized board membership after the reduction.

Following the reduction, the board composition will be reconfigured so that Class I will include three directors, while Classes II and III will each consist of two directors.

The company’s board and management expressed confidence that the restructuring would streamline the governance process and better align the board’s composition with corporate objectives moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Qurate Retail’s 8K filing here.

Qurate Retail Company Profile

Qurate Retail, Inc, together with its subsidiaries, engages in the video and online commerce industries in North America, Europe, and Asia. The company markets and sells various consumer products primarily through merchandise-focused televised shopping programs, Internet, and mobile applications. It also operates as an online retailer offering women's, children's, and men's apparel; and other products, such as home, accessories, and beauty products through its app, mobile, and desktop applications.