Business Context and Reporting Period
This Form 8-K is filed by SMART Global Holdings, Inc. (SGH), a Cayman Islands corporation, with a report date of April 5, 2021, covering events occurring on March 30, 2021. The filing addresses Item 5.02 regarding the departure of certain officers and the appointment of new officers.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and executive personnel changes.
Material Changes
The primary material change reported is a realignment of the executive team effective March 31, 2021:
- Bruce Goldberg: Appointed as Chief of Staff. He ceased serving as Chief Legal and Chief Compliance Officer and is no longer an executive officer.
- KiWan Kim: Former Executive Vice President and President of Emerging Markets. He is no longer an executive officer and now reports to Jack Pacheco.
- Alan Marten: Former Senior Vice President of Specialty Memory. He is no longer an executive officer and now reports to Jack Pacheco.
- Jack Pacheco: Executive Vice President, Chief Operating Officer, and President of SMART Modular Technologies, Inc., now oversees the aforementioned executives as part of a business unit realignment.
Guidance, Outlook, and Risks
The realignment of business units is partially attributed to the expected addition of a new business unit for the acquisition of Cree LED. The filing does not provide specific financial guidance, management commentary on future performance, or detailed risk factors beyond the operational restructuring.
Investor Verification Checklist
- Verify the status of the pending acquisition of Cree LED and its impact on the new business unit structure.
- Confirm the specific reporting lines and responsibilities of KiWan Kim and Alan Marten under Jack Pacheco.
- Review subsequent filings to determine if Bruce Goldberg's transition to Chief of Staff impacts legal or compliance oversight.
- Note that the company name in the metadata request ("Penguin Solutions, Inc.") does not match the registrant in the filing ("SMART Global Holdings, Inc."); verify the correct entity for investment purposes.