Business Context and Reporting Period
This Form 6-K filing by Wix.com Ltd. (NASDAQ: WIX) covers the month of July 2014, specifically dated July 17, 2014. The report addresses a material change in the composition of the Company's Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance disclosure and does not contain financial performance data.
Material Changes
Ms. Betsy Atkins, a member of the Board of Directors and an external director under Israeli Companies Law, resigned effective July 6, 2014. Her resignation was not the result of any disagreement with the Company. Ms. Atkins previously served on the audit, compensation, and nominating and governance committees.
Outlook, Management Commentary, and Risks
The Company intends to schedule an extraordinary general meeting of shareholders to elect a new external director who will also qualify as an independent director under NASDAQ listing rules. To comply with NASDAQ rules, the new director is expected to join the audit and compensation committees within 180 days of Ms. Atkins' resignation.
In the interim, effective July 24, 2014, the following committee appointments were made:
- Compensation Committee: Mr. Ron Gutler (Chairman), Mr. Yuval Cohen, and Mr. Mark Tluszcz.
- Audit Committee: Mr. Ron Gutler, Mr. Yuval Cohen, and Mr. Roy Saar.
- Nominating and Governance Committee: Mr. Ron Gutler and Mr. Roy Saar.
Key Facts for Investor Verification
- Ms. Betsy Atkins resigned from the Board effective July 6, 2014.
- The resignation was not due to any disagreement with the Company.
- Interim committee leadership changes took effect on July 24, 2014.
- An extraordinary general meeting will be held to elect a permanent replacement for Ms. Atkins.
- No financial data is included in this specific filing.