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\n\n\n\n\n Item 5.02\n | \n | \n DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;\nAPPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF\nCERTAIN OFFICERS. | \n
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(d) Effective\nJune 19, 2010, the holders of the Class B Common Stock of Brady Corporation (the\n“Corporation”) elected Gary S. Balkema to the Corporation’s Board of Directors. There was no\narrangement or understanding pursuant to which Mr. Balkema was elected director, and no related\nparty transactions exist between the Corporation and Mr. Balkema.\n
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Mr. Balkema has not been appointed to any committees of the Board of Directors at this time. He is\neligible to participate in the Corporation’s equity incentive and other benefits plans on a basis\nsimilar to other non-employee directors and, as such, will receive a stock option award of 10,000\nshares 14 days after the date he was elected.\n
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A copy of the press release related to the election of Mr. Balkema to the Board of Directors is\nbeing provided to the Securities and Exchange Commission as Exhibit 99.1 attached herewith and is\nincorporated herein by reference.\n
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\n\n\n\n\n Item 9.01\n | \n | \n FINANCIAL STATEMENTS AND EXHIBITS | \n
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(d) Exhibits\n
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The following is filed as an Exhibit to this Report.\n
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\n\n | Exhibit No. | \n | \n Description of Exhibit | \n
\n\n\n\n\n\n 99.1\n | \n | \n Press Release of Brady Corporation, dated June 18, 2010, relating to the election of\nGary S. Balkema. | \n
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EXHIBIT 99.1\n
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For More Information Contact:
\nCarole Herbstreit (414) 438-6882\n
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Gary S. Balkema to join Brady Corporation Board of Directors.\n
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MILWAUKEE (June 18, 2010)—Gary S. Balkema will join the Board of Directors of Brady Corporation\n(NYSE:BRC), effective July 19, 2010. Balkema, 54, is president of the Worldwide Consumer Care\nDivision for Bayer AG and a member of the Bayer HealthCare Executive Committee.\n
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Balkema joined Bayer in 1994 as president of Consumer Care USA. In 2000, he was appointed\ngeneral manager of the Consumer Care Business Group, which ranks among the top consumer healthcare\ncompanies in the world, operating in more than 140 countries. His responsibilities included\nstrategic direction and leadership for the business group worldwide. Prior to Bayer, Balkema was\nvice president and general manager of the Shulton Division and head of the Lederle Consumer Health\nDivision, both at American Cyanamid, with leadership responsibility for manufacturing, sales,\nproduct management and strategic business management. He holds degrees in business administration\nand aeronautical science from Nathaniel Hawthorne College and received his MBA from Fairleigh\nDickinson University.\n
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“Gary will be a great addition to Brady’s board,” said Conrad Goodkind, lead independent\ndirector and chair of Brady’s corporate governance Committee. “Over the last 15 years, sales of\nBayer’s Consumer Care group have quintupled to more than $3.8 billion through several large\nacquisitions and substantial organic growth. Gary’s breadth of business experience, including\nlarge-scale integration of new businesses and strategic marketing, will be a real asset as Brady\ncontinues to grow,” Goodkind said.\n
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“While Brady’s past track record and vision for future growth coupled with a sound balance\nsheet is attractive in its own right, after gaining a deeper understanding of Brady’s breadth of\nproduct line, customer segments, and value proposition delivered through its diverse businesses, I\nam energized and eager to begin working with the Brady leadership team and other directors on the\nboard to take Brady to the next level,” said Balkema.\n
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The Bayer Group is a global enterprise with core competencies in the fields of healthcare,\nnutrition and high-tech materials. Bayer HealthCare, a subsidiary of Bayer AG, is a leading\ndiversified healthcare company based in Leverkusen, Germany. The company combines the global\nactivities of the Animal Health, Bayer Schering Pharma, Consumer Care and Medical Care divisions.\nBayer HealthCare’s aim is to discover, manufacture and market products that will improve human and\nanimal health worldwide.\n
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Brady Corporation is an international manufacturer and marketer of complete solutions that\nidentify and protect premises, products and people. Its products help customers increase safety,\nsecurity, productivity and performance and include high-performance labels and signs, safety\ndevices, printing systems and software, and precision die-cut materials. Founded in 1914, the\ncompany has more than 500,000 customers in electronics, telecommunications, manufacturing,\nelectrical, construction, education, medical and a variety of other industries. Brady is\nheadquartered in Milwaukee and employs about 7,000 people at operations in the Americas, Europe and\nAsia/Pacific. Brady’s fiscal 2009 sales were approximately $1.2 billion.\n
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More information is available on the Internet at www.bradycorp.com.\n
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