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Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 18, 2023, Ares Acquisition Corporation II (the “Company”) appointed David G. Hirz as a new director of the Company. Mr. Hirz has been appointed to serve on the audit committee, the compensation committee and the nominating committee of the Company, with such appointment effective upon him becoming a director of the Company.
Mr. Hirz most recently served as President and Chief Executive Officer as well as a member the board of directors of Smart & Final Stores, Inc. from January 2012 through January 2022. Prior to that, from April 2010 to January 2012, Mr. Hirz served as President and Chief Operating Officer of Smart & Final Stores, Inc. Prior to joining Smart & Final Stores, Inc., Mr. Hirz held executive positions with divisions of The Kroger Company, one of the world’s largest supermarket operators, including President of Food4Less, a national warehouse grocery store chain of The Kroger Company, and President of the Ralphs Grocery Company, the largest supermarket chain in southern California at the time. Previously, Mr. Hirz held a variety of store and operations management positions with several retail grocery companies. Mr. Hirz received a B.B.A. in Finance and Economics & Political Science from California State University, Fullerton.
The Company believes that Mr. Hirz is well qualified to serve on its board of directors due to his significant senior leadership experience along with his extensive knowledge of the food retail and foodservice industries.
The board of directors of the Company has affirmatively determined that Mr. Hirz meets the applicable standards for an independent director under both the rules of the New York Stock Exchange and Rule 10A-3 under the Securities Exchange Act of 1934, as amended.
Mr. Hirz will be compensated $150,000 annually by the Company for his services as a director.
In connection with this appointment, Mr. Hirz is expected to enter into an indemnity agreement and a letter agreement with the Company on the same terms as the indemnity agreements and letter agreement entered into by the directors and officers of the Company at the time of the Company’s initial public offering.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 19, 2023 | ARES ACQUISITION CORPORATION II | |||||
By: | /s/ Anton Feingold | |||||
Name: | Anton Feingold | |||||
Title: | Secretary |