Business Context and Reporting Period
This Form 8-K Current Report was filed by Tapestry, Inc. on November 7, 2018. The report addresses a corporate governance event concerning the Board of Directors scheduled for the company's annual meeting of stockholders on November 8, 2018.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to a disclosure regarding a director's departure and does not contain financial performance data.
Material Changes
The material change disclosed is the departure of William R. Nuti from the Board of Directors. Mr. Nuti advised the company that he would not stand for re-election due to health reasons. He will continue to serve as a director until the Annual Meeting concludes.
Outlook and Management Commentary
- Future Role: Following the Annual Meeting, the Board expects to appoint Mr. Nuti as Director Emeritus.
- Compensation: In the Director Emeritus role, Mr. Nuti will serve in an unpaid, advisory capacity to the Board.
- Risks and Contingencies: The filing cites health reasons as the sole contingency for this departure. No other risks or unusual items are disclosed in this text.
Key Facts for Investor Verification
- William R. Nuti is stepping down from the Board of Directors effective after the November 8, 2018, Annual Meeting.
- The departure is attributed to health reasons.
- Mr. Nuti will transition to an unpaid, advisory role as Director Emeritus.
- No financial results or guidance are included in this specific filing.