Business Context and Reporting Period
This Form 8-K Current Report is filed by Pinnacle West Capital Corporation and its subsidiary, Arizona Public Service Company (APS). The report covers events occurring on December 17, 2008, with the report dated December 22, 2008. The filing addresses corporate governance changes, specifically executive appointments and amendments to bylaws.
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 personnel matters rather than financial performance data.
Material Changes
Executive Appointments (Effective January 1, 2009)
- Barbara M. Gomez: Appointed Vice President, Controller, and Chief Accounting Officer of Pinnacle West. She will step down from her roles as Vice President and Treasurer of both Pinnacle West and APS.
- Chris N. Froggatt: Appointed Vice President and Treasurer of Pinnacle West and APS. He will step down from his role as Vice President and Controller of APS.
- Denise R. Danner: Appointed Vice President and Controller of APS. She joins from Allied Waste Industries, Inc., where she served as Senior Vice President, Controller, and Chief Accounting Officer.
Bylaw Amendments
- Both Pinnacle West and APS approved amendments to their bylaws to remove the mandatory retirement age for directors.
- Previously, directors were ineligible for election or appointment if their 72nd birthday occurred on or before the date of such election or appointment.
- The amendments became effective on December 17, 2008.
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on financial performance, risks, contingencies, or unusual items. The document is limited to reporting the specific governance events listed above.
Investor Verification Checklist
- Verify the effective date of the new executive appointments (January 1, 2009) and the transition of duties between outgoing and incoming officers.
- Confirm the removal of the mandatory director retirement age in the updated bylaws for both Pinnacle West and APS.
- Review the attached exhibits (Exhibit 3.1 and 3.2) for the full text of the bylaw amendments.
- Note that this filing contains no financial data; refer to the most recent 10-K or 10-Q for financial metrics.