Business Context and Reporting Period
This Form 8-K filing by Conduent Inc. covers events occurring on May 21, 2019. The report details significant changes in the company's executive leadership, specifically the departure of the Chief Accounting Officer and the appointment of a new President and Chief Operating Officer.
Key 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 corporate governance and personnel changes rather than financial performance data.
Material Changes
- Departure of Chief Accounting Officer: Allan Cohen notified the company on May 21, 2019, of his resignation as Vice President and Chief Accounting Officer. His resignation is effective June 14, 2019, to pursue another career opportunity.
- Appointment of Chief Operating Officer: The company elected Clifford Skelton as President and Chief Operating Officer. His first day of employment is expected to be on or before June 17, 2019.
Management Commentary and Compensation
Mr. Skelton, age 62, will oversee the company's ongoing business operations. Prior to this role, he served as President of Fiserv Output Solutions (since January 2017) and as Chief Information Officer and Executive Vice President of Fiserv, Inc. (April 2012 to November 2016). He holds a B.A. from the University of Southern California and a M.A. from the John F. Kennedy School of Government at Harvard University. A Letter Agreement dated May 21, 2019, regarding his compensation arrangements is attached as Exhibit 10.6(h).
Investor Verification Checklist
- Verify the transition timeline for the Chief Accounting Officer role between June 14, 2019, and the appointment of a successor.
- Review Exhibit 10.6(h) for specific details on Mr. Skelton's compensation package and any performance-based incentives.
- Confirm the start date of Mr. Skelton's employment to ensure it aligns with the expected date of June 17, 2019.