Business Context and Reporting Period
This Form 8-K filing by TTM Technologies, Inc. reports on events occurring on December 20, 2013, and December 27, 2013. The report details significant executive leadership changes, specifically the retirement of the Chief Executive Officer and the appointment of a successor.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data disclosed relates to executive compensation under a new consulting agreement.
- Consulting Compensation: $410,000 annual compensation for the retiring CEO.
- Payment Terms: Paid in equal bi-weekly installments.
- Additional Benefits: Reimbursement of COBRA premiums for one year, paid time off, and 401(k) participation.
Material Changes
The primary material change is the transition of executive leadership:
- Retirement: Kenton K. Alder is retiring as Chief Executive Officer.
- Appointment: Thomas T. Edman, currently President, was appointed President and Chief Executive Officer, effective January 1, 2014.
- Post-Retirement Role: Mr. Alder will serve as a part-time consultant and advisor to Mr. Edman for one year starting January 1, 2014.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. No specific risks or contingencies are disclosed in this report other than the operational transition associated with the CEO change.
Investor Verification Checklist
- Confirm the effective date of Thomas T. Edman's tenure as CEO (January 1, 2014).
- Verify the total annual cost of the consulting agreement with Kenton K. Alder ($410,000 plus benefits).
- Review the duration of the consulting arrangement (one year).
- Check for any subsequent filings regarding the transition plan or strategic shifts under new leadership.