Otter Tail board to lose two directors ahead of 2027 annual meeting
Two Otter Tail Corporation (OTTR) directors notified the company of their planned retirements within days of each other, with both seats set to turn over at the 2027 Annual Meeting of Shareholders. Thomas J. Webb submitted his notice on August 28, 2026. Kathryn O. Johnson followed on August 31.
Key takeaways
- Two Otter Tail Corporation directors, Thomas J. Webb and Kathryn O. Johnson, have notified the company of planned retirements, with both seats turning over at the 2027 Annual Meeting of Shareholders.
- Webb submitted his retirement notice on August 28, 2026, and Johnson followed on August 31, 2026.
- Neither departure stems from any disagreement with the company's operations, policies, or procedures, according to the 8-K filed September 1, 2026.
- Johnson has reached retirement age under the corporation's director retirement policy, the mechanism setting the exit timeline for both directors.
- Both directors remain on the Fergus Falls, Minnesota board until their terms expire at the 2027 annual meeting, leaving two seats open simultaneously.
Two Otter Tail Corporation (OTTR) directors notified the company of their planned retirements within days of each other, with both seats set to turn over at the 2027 Annual Meeting of Shareholders. Thomas J. Webb submitted his notice on August 28, 2026. Kathryn O. Johnson followed on August 31.
The disclosures, consolidated in an 8-K signed by Senior Vice President and General Counsel Jennifer O. Smestad and filed September 1, 2026, state that neither departure stems from any disagreement with the company's operations, policies, or procedures. Johnson's notice carries one detail Webb's did not: she has reached retirement age under the corporation's director retirement policy, the mechanism that sets the exit timeline for both directors.
Each director remains on the Fergus Falls, Minnesota board until the 2027 annual meeting, when their current terms expire. Otter Tail's common shares, which trade on the Nasdaq Stock Market with a par value of $5.00, carry the governance question into that meeting with two seats coming open simultaneously.
What to watch is the proxy statement ahead of the 2027 vote, which will name any nominees for those vacated positions.
Filed by the newsroom of MarketPR on September 1, 2026. Source: sec.gov. Indicative figures are not investment advice.