Company: LPX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001104659-25-028584
Chunk: 16

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 16
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 governance of the Board. In May 2020, the Board determined that appointing Mr. Southern as Chairperson of the Board and Mr. McCoy as Lead Independent Director would result in the governance structure best suited to enable our Board and management to carry out their responsibilities to our stockholders and promote the growth of LP. We believe the structure promotes, through the clearly articulated roles and responsibilities of the Lead Independent Director and Board committees, the objective and effective oversight of management. Mr. McCoy has served on the Board since 2002. He has deep institutional knowledge of LP and provides strong continuity of leadership. Mr. McCoy’s significant ongoing contributions to the Board are underscored by the Board’s decision to extend his tenure beyond the Board’s mandatory retirement age of 75; in February 2025, the Board determined to waive the director age limit with respect to Mr. McCoy so that he can continue to lead the Board and serve as the Lead Independent Director. LOUISIANA-PACIFIC CORPORATION ● 2025 PROXY STATEMENT | 18 TABLE OF CONTENTS CORPORATE GOVERNANCE The Chairperson’s current Board duties include: calling meetings of the Board; taking primary responsibility for preparing agendas for Board meetings in consultation with the Lead Independent Director, other directors and management; chairing meetings of the Board and the annual meeting of stockholders; receiving feedback from executive sessions of the independent directors; chairing meetings of the Executive Committee of the Board (the “Executive Committee”); communicating with directors on key issues and concerns outside of Board meetings; and representing LP to, and interacting with, external stakeholders and LP employees. The Lead Independent Director’s current duties include: participating in Board meetings; acting as an intermediary in the event the Chairperson refers to the Lead Independent Director for guidance or to have something taken up at an executive session of the independent directors; suggesting calling Board meetings to the Chairperson when appropriate; calling meetings of the independent directors and setting the agenda for, and leading, executive sessions of the independent directors; briefing the Chairperson on issues arising in the executive sessions; collaborating with the Chairperson to set the Board agenda and providing the Board with information; facilitating discussion among the independent directors on key issues and concerns outside of Board meetings; serving as the exclusive conduit to the Chairperson of views, concerns and issues of the independent directors; retaining advisors and consultants at the request of independent directors; serving on the Executive Committee; and coordinating with the Compensation Committee in the performance and evaluation of the CEO. OVERSIGHT OF RISK The directors are