HUNTINGTON INGALLS INDUSTRIES, INC. - 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed on December 13, 2016, by Huntington Ingalls Industries, Inc., a Delaware corporation. The report discloses corporate governance changes effective January 1, 2017.
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 the appointment of a new director and does not contain financial performance data.
Material Changes
The primary material change reported is the election of Adm. Kirkland H. Donald to the Board of Directors. He was appointed to serve on the Compensation Committee and the Finance Committee, effective January 1, 2017. His term will expire at the 2017 annual meeting of stockholders.
Outlook, Risks, and Unusual Items
Adm. Donald brings significant experience, including 37 years in the U.S. Navy, where he served as director of the Naval Nuclear Propulsion program from 2004 to 2012. Prior to his election, he worked as a business consultant and served on the executive advisory board of Moelis Capital Partners/NexPhase Capital Partners. There are no prior relationships or material interest transactions between Adm. Donald and the Company requiring disclosure. He will receive compensation under the standard non-employee director package and will be covered by the Company's standard indemnification agreement.
Key Facts for Investor Verification
- Adm. Kirkland H. Donald joins the Board of Directors effective January 1, 2017.
- He is assigned to the Compensation Committee and Finance Committee.
- His background includes 37 years of U.S. Navy service and leadership in the Naval Nuclear Propulsion program.
- Compensation follows the standard non-employee director package detailed in the 2016 Definitive Proxy Statement.
- No financial metrics or operational guidance are included in this specific filing.