Business Context and Reporting Period
This Form 8-K is a current report filed by Greatbatch, Inc. (not Integer Holdings Corp) on October 14, 2015. The filing addresses corporate governance changes related to the departure of two directors.
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
- Anthony P. Bihl III: Resigned as a director effective immediately prior to the completion of the spin-off of the QiG Group subsidiary (expected late 2015). He will become a director of the new entity, Nuvectra Corporation.
- Marcia A. Dall: Resigned as a director effective October 14, 2015, to accept a position as Executive Vice President & Chief Financial Officer of Churchill Downs Incorporated.
Outlook, Risks, and Management Commentary
Management clarified that Ms. Dall's resignation is not due to any disagreement with Greatbatch regarding its operations, policies, or practices. The filing notes the ongoing spin-off of the QiG Group subsidiary as a material event driving the transition of Mr. Bihl.
Investor Verification Checklist
- Verify the exact completion date of the QiG Group spin-off and the formation of Nuvectra Corporation.
- Confirm the composition of the Greatbatch Board of Directors following these resignations.
- Review subsequent filings for any financial impact related to the QiG Group separation.