Business Context and Reporting Period
This Form 8-K Current Report was filed by Cooper-Standard Holdings Inc. on October 17, 2019. The report discloses a specific corporate governance event regarding the departure of a senior executive.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on personnel changes rather than financial performance data.
Material Changes
The primary material change reported is the departure of Song Min Lee, Senior Vice President and President of the Asia Pacific region. Mr. Lee is scheduled to depart the Company at the end of 2019.
Management Commentary and Contingencies
The Compensation Committee approved Mr. Lee's departure on October 17, 2019. As a result of this departure, Mr. Lee is entitled to termination without cause benefits under the Company's Executive Severance Pay Plan. Specific details regarding the benefit amounts are referenced in the Company's 2019 Proxy Statement under "Potential Payments on Termination" but are not detailed in this filing.
Investor Verification Checklist
- Verify the specific financial terms of the Executive Severance Pay Plan in the 2019 Proxy Statement.
- Confirm the exact end date of Mr. Lee's employment within the 2019 calendar year.
- Review subsequent filings for any impact on the Asia Pacific region's operations or leadership structure.