Meredith Corporation Board Of Directors Elects Thomas Harty Chairman and Elizabeth Tallett Lead Independent Director

DES MOINES, Iowa, Nov. 11, 2020 /PRNewswire/ -- The Meredith Corporation (NYSE:MDP) Board of Directors announced several actions following its Annual Shareholders Meeting today:

Thomas H. Harty Elected Chairman and Elizabeth E. Tallett Elected Lead Independent Director

Harty, a member of Meredith Corporation's Board of Directors since 2017, will also retain his post as President and Chief Executive Officer. Harty joined Meredith in 2004 as Vice President of its Magazine Group and was named National Media Group President in 2010. He became President and Chief Operating Officer of Meredith Corp. in 2016 and its Chief Executive Officer in 2018. Harty succeeds Stephen M. Lacy, who is retiring from Meredith's Board after 16 years of service as a Director.

"On behalf of the Board of Directors and the Meredith family, I would like to thank Steve for the 22 years of relentless passion, dedication and commitment to excellence he delivered in service of Meredith Corporation," said Vice Chairman Mell Meredith Frazier.

Tallett has been a member of the Meredith Board since 2008. In her new role, she will collaborate with Chairman Harty and Vice Chairman Frazier on setting agendas for Board meetings, including executive sessions; facilitate discussion among the independent directors on key issues outside of Board meetings; and provide advice and counsel to the Board as requested.

"Liz brings broad board and independent director experience to Meredith, supported by a career focused on operational and strategic leadership roles at large and complex organizations in the consumer products and biopharmaceutical industries," said Harty. "We look forward to working together with Liz in her expanded board role at Meredith."

Tallett currently serves as Chair of Anthem Inc. and is a member of the boards at Moderna Inc., Qiagen Inc., and Principal Financial Group. She was Lead Independent Director at Principal until this year, and previously served in that role at Coventry Health Care Inc. Tallett's previously held senior management positions include principal of Hunter Partners, President and Chief Executive Officer of Transcell Technologies Inc., President of Centocor Pharmaceuticals, and she was a member of the Executive Committee of Parke-Davis. Tallett earned a dual first-class honors degree in mathematics and economics from Nottingham University.

Elizabeth E. Tallett, Donald C. Berg and Gregory Coleman Elected to New Board Terms

Tallett was elected to serve as a Class III Director with a term expiring in 2022. Berg and Coleman were elected to serve as Class I Directors with terms expiring in 2023.

Beth J. Kaplan Elected Chairman of Meredith's Human Resource and Compensation Committee

Kaplan joins Mell Meredith Frasier (Nominating/Governance) and Donald C. Berg (Audit) as Meredith Board Committee chairs.

Four Shareholder Proposals Approved

Meredith shareholders approved four proposals, all of which were supported by the Board. These were:

• Approval of Advisory Resolution on Executive Compensation Discussion & Analysis
• Amendment & Restatement to Meredith Corporation Employee Stock Purchase Plan
• Ratification of Appointment of Independent Registered Public Accounting Firm
• Amendment to Restated Articles of Incorporation

ABOUT MEREDITH CORPORATION

Meredith Corporation (MDP: NYSE), a leading media company for nearly 120 years, produces service journalism that engages audiences with essential, inspiring and trusted content. We reach consumers where they are across multiple platforms including digital, video, print, and broadcast television. Meredith's National Media Group reaches nearly 95 percent of all U.S. women and more than 190 million unduplicated American consumers every month through such iconic brands as PEOPLE, Better Homes & Gardens, Allrecipes, Southern Living, and REAL SIMPLE. Meredith's premium digital network reaches more than 150 million consumers each month. The company is the No. 1 U.S. magazine operator with 36 million subscribers, and the No. 2 global licensor with robust brand licensing activities that include a Better Homes & Gardens partnership with Walmart. Meredith's Local Media Group portfolio includes 17 television stations reaching 11 percent of U.S. households and 30 million viewers. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 markets, including Atlanta, Phoenix, St. Louis and Portland, and 13 stations in the Top 50.

SOURCE Meredith Corporation

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