Business Context and Reporting Period
This Form 8-K filing by Hexcel Corporation (HXL) was submitted on November 17, 2025. The report addresses a significant change in corporate governance and management under Item 5.02, specifically the departure of the Chief Financial Officer and the appointment of an interim successor.
Key Financial Metrics
This filing is a current report regarding executive personnel changes and does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
- Departure of CFO: Patrick Winterlich, Executive Vice President and Chief Financial Officer, has resigned effective November 30, 2025, to pursue another professional opportunity.
- Appointment of Interim CFO: The Board of Directors appointed Michael C. Lenz as Executive Vice President and Interim Chief Financial Officer, effective upon Mr. Winterlich's resignation.
- Transition Timeline: Mr. Lenz commenced work on the transition on November 19, 2025.
Management Commentary, Risks, and Unusual Items
Compensatory Arrangements for Interim CFO
Mr. Lenz's compensation package includes:
- Base Salary: $65,000 per month for a minimum of three months.
- Cash Bonus: Target amount of 85% of the base salary earned during his employment period, payable upon completion.
- Benefits: Eligibility for standard executive retirement and employee benefit plans.
- Expense Reimbursement: Up to $15,000 for legal expenses related to finalizing employment terms.
Background of Interim CFO
Mr. Lenz (age 62) previously served as Executive Vice President and CFO of FedEx Corp. (2020–2023) and held various finance roles at FedEx and American Airlines. Since May 2025, he has served on the board of directors of Republic Airways.
Risks and Contingencies
The filing states there were no arrangements or understandings with other persons regarding Mr. Lenz's selection. He has no family relationships with directors or officers and no direct material interest in transactions requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the exact effective date of Patrick Winterlich's resignation (November 30, 2025) and the start date of Michael Lenz's interim role.
- Confirm the duration of the interim arrangement (minimum three months) and the status of the search for a permanent CFO.
- Review Mr. Lenz's prior compensation history at FedEx to contextualize the interim salary and bonus structure.
- Monitor future filings for the announcement of a permanent Chief Financial Officer.