MSC Industrial Direct Co., Inc. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on October 20, 2009, by MSC Industrial Direct Co., Inc. The report discloses executive promotions effective October 13, 2009, and does not contain financial results for a specific reporting period.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and associated compensation details.
Material Changes
The primary material change reported is the appointment of two new Executive Vice Presidents:
- Erik Gershwind: Promoted to Executive Vice President and Chief Operating Officer. He previously served as Senior Vice President, Product Management and Marketing.
- Douglas Jones: Promoted to Executive Vice President, Global Supply Chain Operations. He previously served as Senior Vice President, Supply Chain Management.
Management Commentary, Risks, and Unusual Items
The filing details the compensation packages for the promoted executives, including base salaries, restricted stock awards, and stock options granted in October 2009. Notably, Erik Gershwind is identified as the nephew of Mitchell Jacobson, the Company's Chairman of the Board, and the son of a principal shareholder. No specific risks, contingencies, or unusual financial items are disclosed in this report.
Investor Verification Checklist
- Verify the effective date of the executive promotions (October 13, 2009).
- Review the specific equity grant details (restricted shares and options) for Erik Gershwind and Douglas Jones.
- Confirm the familial relationship between Erik Gershwind and Chairman Mitchell Jacobson as disclosed.
- Check the attached press releases (Exhibits 99.1 and 99.2) for additional context on the leadership changes.