Urban Outfitters adds new board member

American retail group Urban Outfitters has increased the size of its board from seven to eight members, following the recommendation of the Nominating Committee. The group filed the disclosure with the Securities and Exchange Commission late Monday, December 22, stating that they had elected Elizabeth Ann Lambert to serve as a new director.

Lambert, a principal and manager of hotel operator Bunkhouse Group LLC, will immediately begin serving as a director for a term that expires at the 2015 Annual Meeting of Shareholders of the company.

The Philadelphia-based company’s board also voted to establish an independent director role to serve in a lead capacity, and adopted a charter setting forth the duties and responsibilities of such lead director.

In addition, the board also formed an innovation committee to deal with new and disruptive technologies. The board is expected to elect a lead director and appoint members to the Innovation Committee immediately following the 2015 Annual Meeting of Shareholders of the company.