Harris Teeter 2011 Annual Report Download - page 72

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Bissell Patrick LLC, which was also involved in commercial real estate, brokerage and development, from
September 1998 until December 2009, at which time Bissell Patrick LLC merged into Merrifield Patrick LLC.
Mr. Patrick was Managing Partner of Merrifield Patrick LLC from January 2010 until July 2010, at which time
Merrifield Patrick merged to form Merrifield Patrick Vermillion LLC. Mr. Patrick has been a director of the
Company since August 2003 and serves as a director of The Cato Corporation. Mr. Patrick brings a breadth and
depth of operations and strategic planning experience to the Board of Directors, including real estate development
experience, from his leadership at Merrifield Patrick Vermillion, LLC and its predecessor organizations.
Mr. Patrick’s background particularly assists the Board of Directors in overseeing the Company’s real estate
functions and expansions.
ROBERT H. SPILMAN,JR., age 55, has been the President and Chief Executive Officer of Bassett Furniture
Industries, Incorporated, a furniture manufacturer and distributor, since March 2000. Mr. Spilman has been a director
of the Company since August 2002 and also serves as a director of Bassett Furniture Industries, Incorporated and
Dominion Resources, Inc. Through his management experience at Basset Furniture Industries, Incorporated, a
vertically integrated manufacturer, importer and retailer of home furnishings operating a network of licensed and
corporate stores, Mr. Spilman provides the Board of Directors with sales, operations, risk management, strategic
planning and corporate governance expertise that is important to the oversight of the Company.
HAROLD C. STOWE, age 65, has been the managing member of Stowe-Monier Management, LLC, a venture
capital management company since August 2007. Prior to that time, he served as the Interim Dean of Development
at the Wall College of Business Administration of Coastal Carolina University from June 2006 to August 2007.
Prior to that time, Mr. Stowe was the President and Chief Executive Officer of Canal Holdings, LLC, a real estate
and asset management company, from October 2001 to March 2005. Prior to that time, he was the President and
Chief Executive Officer of Canal Industries, Inc., a forest products company, from March 1997 until October 2001.
Mr. Stowe has a broad range of financial, banking, and management expertise, which provides the Board of Directors
with valuable experience in its oversight of the financial reporting and corporate governance of the Company.
Mr. Stowe has been a director of the Company since 1998 and also serves as a director of SCANA Corporation.
ISAIAH TIDWELL, age 66, was the Georgia Wealth Management Director and Executive Vice President of
Wachovia Bank, N.A. from September 2001 to February 2005. Prior to that time, he served as the President, Georgia
Banking, of Wachovia Bank from July 1999 to September 2001. Mr. Tidwell’s extensive experience in retail banking
operations and credit administration at Wachovia Bank provides the Board of Directors with significant financial
and retail expertise important to the oversight of the Company’s retail operations, financial reporting and enterprise
risk management. Mr. Tidwell has been a director of the Company since 1999 and also serves as a director of
Snyder’s-Lance, Inc. and Lincoln National Corporation.
WILLIAM C. WARDEN,JR., age 59, was the Executive Vice President, Administration, of Lowes Companies,
Inc. from February 1996 to February 2003. Mr. Warden’s experience as an executive of a large retail organization
provides the Board of Directors with expertise in the areas of real estate, engineering and construction, loss
prevention and safety, internal audit, administration and legal that is relevant to the Company’s businesses,
developments and operations as well as the strategic planning functions of the Board of Directors. Mr. Warden has
been a director of the Company since February 2008 and also serves as a director of Bassett Furniture Industries,
Incorporated.
No director has a family relationship as close as first cousin with any other executive officer, director or
nominee for director of the Company.
Directors’ Fees and Attendance
The Company compensated each director elected to the Board of Directors at the Company’s 2011 Annual
Meeting of Shareholders who was not an employee of the Company or its subsidiaries via an annual fee in the amount
of $34,000 for services as a director. Directors also receive a meeting fee for each Board of Directors or committee
meeting attended. The meeting fee was $2,000 per meeting in the fiscal year ended October 2, 2011 (“Fiscal 2011”).
The Chairman of the Audit Committee was paid an annual fee of $6,000 in addition to the fees described herein.
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