Pool Corporation Announces Voting Results for Its 2021 Annual Meeting of Stockholders

Rhea-AI Summary

At its Annual Meeting on May 4, 2021, Pool Corporation (NASDAQ: POOL) elected eight directors to serve for the upcoming year, ensuring a robust governance structure. Stockholders also ratified Ernst & Young LLP as the independent auditor for the 2021 fiscal year and approved the compensation for named executive officers. Chairman Harlan F. Seymour expressed appreciation for retiring director Andrew W. Code's 28 years of service. Pool Corporation remains a leader in wholesale distribution of swimming pool and backyard products, operating 400 centers globally.

Positive

• Election of experienced directors ensures strong governance.
• Ratification of Ernst & Young LLP enhances credibility.
• Approval of executive compensation may boost management alignment.

Negative

• The company faces ongoing risks from the COVID-19 pandemic.
• Business sensitivity to weather conditions may impact performance.

COVINGTON, La., May 05, 2021 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) announced today that at POOLCORP’s Annual Meeting of Stockholders on May 4, 2021, stockholders elected Peter D. Arvan, Timothy M. Graven, Debra S. Oler, Manuel J. Perez de la Mesa, Harlan F. Seymour, Robert C. Sledd, John E. Stokely and David G. Whalen to serve as directors for the ensuing year.

The voting results on the other proposals for this year’s meeting are as follows:

• ratification of the retention of Ernst & Young LLP as independent registered public accounting firm of the company for the 2021 fiscal year; and
• approval of the compensation of the company’s named executive officers as disclosed in the Proxy Statement (the advisory say-on-pay vote).

At the annual meeting, Mr. Stokely, Chairman of the Board, commented, “The Board strives to ensure that there are no gaps in director skills and abilities. Our Board members are very experienced and have a successful track record of performance in many areas. On behalf of the Board and POOLCORP’s management team, I would also like to acknowledge the strength and resiliency of our employees. Through their dedication, perseverance and adaptability, they have delivered outstanding results to our customers and communities amidst numerous challenges. We are all looking forward to what 2021 holds and are thankful for our strong team.”

On the retirement of Andrew W. Code (“Andy”), Mr. Stokely commented, “I’d like to extend a heartfelt thanks to Andrew W. Code who is retiring as a director in connection with today’s annual meeting of shareholders. Andy has served as a director of Pool Corporation since 1993 and has been the company’s longest serving director. We wish Andy well in his retirement and express our sincerest appreciation for his contributions and guidance throughout his years of service.”

Pool Corporation is the world’s largest wholesale distributor of swimming pool and related backyard products. POOLCORP operates approximately 400 sales centers in North America, Europe and Australia through which it distributes more than 200,000 national brand and private label products to roughly 120,000 wholesale customers. For more information about POOLCORP, please visit www.poolcorp.com.

This news release may include “forward-looking” statements that involve risk and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including impacts on our business from the COVID-19 pandemic, the sensitivity of the swimming pool supply business to weather conditions and other risks detailed in POOLCORP’s 2020 Form 10-K, Quarterly Reports on Form 10-Q and other reports and filings with the Securities and Exchange Commission (SEC).

CONTACT:

Curtis J. Scheel
Director of Investor Relations
985.801.5341
curtis.scheel@poolcorp.com

FAQ

Who were elected as directors at Pool Corporation's annual meeting in 2021?

Eight directors were elected, including Peter D. Arvan and Timothy M. Graven.

What firm was ratified as Pool Corporation's independent auditor for 2021?

Ernst & Young LLP was ratified as the independent registered public accounting firm.

What was approved regarding executive compensation at Pool Corporation's meeting?

The compensation of the company’s named executive officers was approved.

What is Pool Corporation's primary business?

Pool Corporation is the world's largest wholesale distributor of swimming pool and related backyard products.

What risks does Pool Corporation face according to the press release?

The company faces risks related to COVID-19 and weather sensitivity affecting its business.