Wolverine World Wide, Inc. extended Timothy J. O'Donovan's term as chairman of the company's Board of Directors until the company's 2009 annual meeting of stockholders.
Mr. O'Donovan will be paid $150,000 for his services as chairman of the board for the one-year period from the 2008 Annual Meeting of Stockholders until the 2009 Annual Meeting of Stockholders.
WWW will also continue to provide office space and administrative staffing for Mr. O'Donovan at its headquarters. Mr. O'Donovan will not receive any other compensation for his services as xhairman and a director, other than normal annual director stock option grants.
Wolverine said it extended O'Donavan's term Feb. 7.