Business Context and Reporting Period
This Form 8-K is a current report filed by Bank of Hawaii Corporation on September 24, 2024. 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 metrics. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is the leadership transition within the finance department:
- Resignation: Jeanne Dressel, Senior Vice President, Controller, and Principal Accounting Officer, resigned effective November 1, 2024, to pursue other opportunities. The company states there are no disagreements regarding operations, policies, or practices.
- Appointment: Keith Asato, Senior Vice President and Director of Financial Reporting, was appointed as the new Principal Accounting Officer, effective November 1, 2024.
Management Commentary and Compensation
In connection with the appointment, Mr. Asato's annual salary is set at $200,000. He is also entitled to participate in incentive compensation and benefit plans available to the Company's senior executives. Mr. Asato joined the Company in 2021 and previously served as Vice President and Controller for Wing Spirit Inc.
Investor Verification Checklist
- Confirm the effective date of the Principal Accounting Officer transition (November 1, 2024).
- Verify the absence of any undisclosed disagreements between the departing officer and the company.
- Review the Company's next quarterly report (10-Q) for any impact on financial reporting timelines or internal controls due to this personnel change.