Business Context and Reporting Period
This Form 8-K Current Report was filed by Tapestry, Inc. on July 17, 2018. The filing addresses Item 5.02 regarding the departure of a principal accounting officer and the appointment of a successor.
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
The material change reported is the upcoming retirement of Melinda Brown, the Company's Controller and principal accounting officer. Her retirement is effective August 17, 2018, or the day after the filing of the Form 10-K for the year ended June 30, 2018, whichever is later.
Management Commentary and Personnel Transition
- Transition Plan: Ms. Brown will remain a full-time employee through September 28, 2018, and a part-time employee through March 1, 2019, to assist with various projects.
- Succession: The Company intends to appoint Brian Satenstein, currently the Vice President & Assistant Controller, as the new Vice President, Controller, and principal accounting officer effective upon Ms. Brown's retirement.
- Signatory: The report was signed by Todd Kahn, President, Chief Administrative Officer, and Secretary.
Investor Verification Checklist
- Verify the exact effective date of the Controller's retirement relative to the filing of the Form 10-K for the fiscal year ended June 30, 2018.
- Confirm the official appointment of Brian Satenstein as the new principal accounting officer in subsequent filings.
- Review the upcoming Form 10-K for the fiscal year ended June 30, 2018, to assess the financial impact of the transition period.