Business Context and Reporting Period
This Form 8-K Current Report was filed by Western Alliance Bancorporation on July 18, 2006. The filing addresses corporate governance changes effective immediately as of the report date.
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 personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is the departure of a director and the appointment of a successor to a key committee role:
- Resignation: Edward Nigro resigned from the Board of Directors and his position as Chairman of the Audit Committee to pursue other opportunities.
- Appointment: Cary Mack, a director since April 2005, was appointed to succeed Mr. Nigro as Chairman of the Audit Committee.
Management Commentary and Background
The filing provides background on the new Audit Committee Chairman, Cary Mack:
- He has served as a director of Torrey Pines Bank since its formation in May 2003.
- He is licensed in California as a certified public accountant, attorney, and real estate broker.
- His professional history includes employment with PricewaterhouseCoopers until 1990, followed by founding Marck|Barclay Inc., a forensic accounting and consulting firm.
No guidance, outlook, risks, or contingencies were disclosed in this specific filing.
Key Facts for Investor Verification
- Edward Nigro is no longer a director or Chairman of the Audit Committee.
- Cary Mack is the new Chairman of the Audit Committee.
- The changes were effective immediately as of July 18, 2006.
- No financial results or operational metrics are included in this document.