Cabot Corporation Form 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Cabot Corporation on January 13, 2009, regarding events reported on January 20, 2009. The filing addresses a significant change in executive leadership within the finance function.
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 personnel changes and does not contain financial performance data.
Material Changes
- Departure of CFO: Jonathan P. Mason, Executive Vice President and Chief Financial Officer, advised the Company on January 13, 2009, of his decision to leave for another position.
- Appointment of New CFO: Eduardo E. Cordeiro has been appointed Chief Financial Officer to succeed Mr. Mason.
- Effective Date: The leadership transition is effective February 13, 2009.
Management Commentary and Compensation
Mr. Cordeiro, 41, is an internal candidate who joined Cabot in 1998. His career at the company includes roles in Corporate Planning, Finance, Investor Relations, Corporate Controller, and General Manager for the Fumed Metal Oxides and Supermetals businesses. He has been responsible for Corporate Strategy since May 2008.
Mr. Cordeiro does not have a written employment agreement; his compensation is determined by the Compensation Committee. The filing notes a specific transaction in May 2008 where Mr. Cordeiro sold shares of common stock with an aggregate value of $264,592 to Cabot to satisfy withholding tax obligations on vested restricted stock.
Investor Verification Checklist
- Verify the effective date of the CFO transition (February 13, 2009).
- Review the attached press release (Exhibit 99.1) for additional details on the leadership change.
- Confirm that no written employment agreement exists for the new CFO.
- Note that this filing contains no financial performance updates or guidance.