Otter Tail Corporation filed a Form 8-K on September 1, 2026, disclosing that two members of its Board of Directors, Thomas J. Webb and Kathryn O. Johnson, have each separately notified the company of their intention to retire from the board at the conclusion of their current terms, which expire at the 2027 Annual Meeting of Shareholders.

Key Highlights

  • Thomas J. Webb retirement notice: Webb notified Otter Tail Corporation on August 28, 2026, of his intention to not stand for reelection and retire from the Board of Directors.
  • Kathryn O. Johnson retirement notice: Johnson notified the company on August 31, 2026, of her intention to not stand for reelection, having reached retirement age in accordance with the corporation's director retirement policy.
  • Effective date for both: Each director's retirement takes effect at the conclusion of their current term, which expires at the time of the 2027 Annual Meeting of Shareholders.
  • No disagreements cited: The filing states that neither Webb's nor Johnson's decision is "the result of any disagreement with the Company's operations, policies or procedures."
  • Policy basis: Both retirements are stated to be in accordance with the corporation's director retirement policy.

Board Transition Details for Otter Tail Corporation (NASDAQ:OTTR)

According to the filing, Thomas J. Webb informed Otter Tail Corporation on August 28, 2026, that he would not stand for reelection to the Board of Directors. His retirement is described as occurring in accordance with the corporation's director retirement policy, and his current term runs through the 2027 Annual Meeting of Shareholders. The company disclosed that his decision does not stem from any disagreement with its operations, policies, or procedures.

Separately, Kathryn O. Johnson notified the company on August 31, 2026, of her own decision to retire from the board. The filing specifically notes that Johnson "reached retirement age in accordance with the Corporation's director retirement policy" as the basis for her departure. Like Webb, Johnson's term expires at the time of the 2027 Annual Meeting of Shareholders, and the filing states her decision is not the result of any disagreement with the company's operations, policies, or procedures.

The 8-K was signed on September 1, 2026, by Jennifer O. Smestad, Senior Vice President, General Counsel and Corporate Secretary of Otter Tail Corporation. The company is a Minnesota corporation with common shares, par value $5.00 per share, listed on The Nasdaq Stock Market LLC under the trading symbol OTTR.

What Was Disclosed

Otter Tail Corporation disclosed the planned retirements of two board directors, Thomas J. Webb and Kathryn O. Johnson, each effective at the 2027 Annual Meeting of Shareholders, with both citing the company's director retirement policy and neither citing any disagreement with company operations.