Huntsman Corp 8-K Summary: June 15, 2009
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Huntsman Corporation and Huntsman International LLC on June 15, 2009. The report addresses a specific executive appointment and compensatory arrangement involving a wholly-owned subsidiary.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. It is a current report focused on personnel changes rather than financial performance.
Material Changes
The primary material change reported is the appointment of Paul G. Hulme as Divisional President, Textile Effects of Huntsman Singapore Pte. Ltd. effective June 15, 2009. Mr. Hulme is being relocated from the UK to Singapore.
Compensatory Arrangement Details
- Role: Divisional President, Textile Effects (Huntsman Singapore).
- Term: Three-year assignment.
- Base Salary: GBP 249,900 annually.
- Allowances: International location allowance equal to 10% of gross annual salary; relocation expense allowance.
- Benefits: Pension benefits, medical benefits, tax equalization, housing provision in Singapore, and a leased vehicle.
Management notes that certain amounts payable under the agreement are not calculable as of the filing date and will be disclosed in the next filing containing Item 402 of Regulation S-K information.
Investor Verification Checklist
- Verify the full text of the Letter Agreement (Exhibit 10.1) for specific termination clauses or performance conditions not detailed in the summary.
- Monitor future filings (10-Q or 10-K) for the disclosure of non-calculable compensation amounts referenced in the report.
- Confirm the impact of this leadership change on the Textile Effects division's strategic direction in the Asia-Pacific region.