Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

WESTROCK COMPANY

(WRK)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

WESTROCK CO : Change in Directors or Principal Officers (form 8-K)

11/15/2021 | 05:23pm EST

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers


On November 10, 2021, the board of directors of the Company appointed Alexander W. Pease as executive vice president and chief financial officer of WestRock Company.

As part of the CFO transition plan, Ward H. Dickson stepped down as executive vice president, chief financial officer of the Company, effective as of November 10, 2021. He will continue his employment with the Company until his retirement on December 2, 2021. Mr. Dickson's retirement is not the result of any dispute or disagreement with the Company's accounting principles or practices or financial statements and disclosures.

Mr. Pease, age 50, has served as executive vice president and chief financial officer of CommScope Holding Company, a global provider of infrastructure solutions for communication and entertainment networks, since 2018. From 2016 to 2018, he served as executive vice president and chief financial officer of Snyder's-Lance, Inc.Mr. Pease served as a principal at McKinsey & Company as a leader in its global corporate finance and business functions practice from 2015 to 2016. From 2011 to 2015, he was senior vice president and chief financial officer of EnPro Industries, Inc. Before joining EnPro, Mr. Pease worked at McKinsey & Company and served in the U.S. Navy as a SEAL Platoon commander.

Mr. Pease is not a party to any (a) arrangement or understanding regarding his selection as an officer and he has no family relationships with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company or (b) transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Mr. Pease will receive salary of $750,000, annual incentive awards with a target value of $750,000 and long-term incentive awards with an expected target value of $1,762,500, and will participate in other compensation and benefit programs, at levels consistent with his position and scope of responsibility. The Company's compensation and benefit plans are more fully described in the "Compensation Discussion and Analysis" section of the Company's proxy statement on Schedule 14A relating to its 2021 annual meeting of stockholders, filed with the Securities and Exchange Commission on December 14, 2020, and incentive plans and incentive plan agreements are included as exhibits to the Company's annual report on Form 10-K for the year ended September 30, 2020. In connection with Mr. Pease commencing employment with the Company, the Compensation Committee has approved and Mr. Pease will receive a one-time cash payment of $585,000 and an award of 85,590 shares of time-based restricted stock. The award of restricted stock, which will vest in equal installments on the first, second and third anniversaries of the grant date, is intended to compensate Mr. Pease for outstanding equity awards granted by his former employer that he forfeited when he resigned to join the Company. Likewise, the one-time cash payment is intended to compensate Mr. Pease for the value of the annual bonus that he forfeited when he resigned his employment with his former employer. In the event that Mr. Pease voluntarily terminates his employment with the Company during the twenty-four- month period immediately following the date he began his employment with the Company, Mr. Pease will be required to repay on a pro-rata basis the amount of such cash payment.

                                       2

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

All news about WESTROCK COMPANY
01/21NORTH AMERICAN MORNING BRIEFING : Dow Wobbles, -3-
DJ
01/20BofA Securities Downgrades WestRock to Neutral From Buy, Adjusts Price Target to $57 Fr..
MT
01/12WESTROCK CO : Change in Directors or Principal Officers (form 8-K)
AQ
01/12WestRock Company Announces Patrick E. Lindner Resigns as President, Commercial, Innovat..
CI
01/12Truist Securities Adjusts WestRock Company Price Target to $50 From $46, Maintains Hold..
MT
01/10Grupo Modelo Partners With WestRock and Grupo Gondi in Transition to CanCollar« Eco Pac..
BU
01/05WESTROCK : Tennessee to Expand Wildlife Area by 1,000 Acres
PU
01/05WESTROCK : Omicron scrambles metro Atlanta employers' office plans
PU
01/05RBC Cuts Price Target on WestRock to $45 From $50, Citing Weaker-Than-Expected Market S..
MT
2021WESTROCK : Hazen Paper wins 2021 International Award for Excellence in Holography
PU
More news
Analyst Recommendations on WESTROCK COMPANY
More recommendations