Business Context and Reporting Period
This Form 8-K filing by Coffee Holding Co., Inc. (Nevada) covers events occurring on February 3, 2016. The report focuses on corporate governance changes involving the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current event disclosure and does not contain financial statement data.
Material Changes
- Resignation: Robert M. Williams resigned from the Board of Directors effective immediately on February 3, 2016. He served on the Audit, Nominating & Corporate Governance, and Compensation Committees.
- Appointment: George F. Thomas was appointed to the Board effective immediately on February 3, 2016, to fill the vacancy. He was assigned to the same three committees.
- Reason for Departure: Mr. Williams stated his resignation was not the result of any disagreement with the Company regarding operations, policies, or practices.
Outlook, Risks, and Management Commentary
Mr. Thomas brings over 35 years of corporate business experience, including significant tenure in electronic payments at The Clearing House Payments Company L.L.C. and as a Principal at Radix Consulting Corporation. He is expected to stand for election at the 2016 annual meeting of stockholders. He will be compensated pursuant to the Company's standard practice for non-employee directors. The filing confirms no undisclosed arrangements or transactions exist between the Company and Mr. Thomas.
Key Facts for Investor Verification
- Confirm the effective date of the board composition change (February 3, 2016).
- Verify Mr. Thomas's background in electronic payments and his prior board service at eGistics, Inc.
- Note that Mr. Williams's departure was amicable with no stated disagreements.
- Check the upcoming 2016 annual meeting for the formal election of Mr. Thomas.