Clean Energy Fuels Corp. 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Clean Energy Fuels Corp. on April 7, 2008, covering events that occurred on April 4, 2008. The filing addresses changes to 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 report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
- Resignation: David R. Demers resigned from the Board of Directors on April 4, 2008. He served on the Audit Committee and the Nominating and Governance Committee. The resignation was not due to any disagreement with the company regarding operations, policies, or practices.
- Appointment: Vincent C. Taormina was appointed to the Board of Directors on April 4, 2008, to fill the vacancy created by Mr. Demers. He was concurrently appointed to the Audit Committee and the Nominating and Governance Committee.
- Independence: The Board determined that Mr. Taormina qualifies as independent under Nasdaq Marketplace Rule 4200(a)(15) and Rule 10A-3(b)(1).
Management Commentary and Background
Mr. Taormina, 52, is the former CEO of Taormina Industries, Inc., which merged with Republic Services in 1997. He served as Regional Vice-President of Republic Services from 1997 to 2001 and has operated his own investment company since 2001. There are no compensatory plans or arrangements connected to his appointment, and no undisclosed transactions between the company and Mr. Taormina.
Key Facts for Investor Verification
- Confirm the effective date of the Board composition change (April 4, 2008).
- Verify Mr. Taormina's independence status and committee assignments (Audit and Nominating and Governance).
- Note that the resignation of Mr. Demers was not related to any disagreement with company management.
- Review the attached press release (Exhibit 99.1) for additional public disclosures regarding these appointments.