Northern Trust is planning to elect a team of 13 directors, including a new director nominee. The firm’s current director, William Smithburg, will not stand for re-election as a director.

He is stepping down after 30 years of service due to retirement age guidelines for directors. Vice chairman and CEO of Molex, Martin Slark, will be one of the nominees for election to the board of directors.

Click here for the release from Business Wire.