Business Context and Reporting Period
This Form 8-K is a current report filed by Empire State Realty Trust, Inc. and Empire State Realty OP, L.P. on August 1, 2019. The filing addresses a significant change in executive leadership effective as of the report date.
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 CFO: David A. Karp resigned as Executive Vice President and Chief Financial Officer, stepping down as the principal financial officer for both the Trust and the Operating Partnership.
- Interim Leadership: Andrew J. Prentice, Chief Accounting Officer and Treasurer, has been appointed as the acting Chief Financial Officer.
- Principal Financial Officer: John B. Kessler, President and Chief Operating Officer, has assumed the role of principal financial officer, to whom Mr. Prentice will report on all financial matters.
- Search Process: The Company has retained Korn Ferry (US) to assist in identifying a permanent replacement for the Chief Financial Officer.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of market risks. The primary contingency noted is the ongoing search for a permanent Chief Financial Officer. The transition of duties is structured to ensure continuity in financial reporting under the supervision of the President and Chief Operating Officer.
Investor Verification Checklist
- Confirm the timeline for the appointment of a permanent Chief Financial Officer.
- Review the Definitive Proxy Statement filed on April 4, 2019, for background information on John B. Kessler's assumption of the principal financial officer role.
- Monitor future filings for any impact of the leadership transition on financial reporting or strategic initiatives.