Business Context and Reporting Period
This Form 8-K Current Report was filed by Air Industries Group on April 22, 2016. The filing addresses a specific corporate governance event regarding the departure of a senior officer and the appointment of a successor.
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 personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the leadership transition within the finance department:
- Resignation: James Sartori resigned as Vice President-Chief Accounting Officer on April 22, 2016.
- Appointment: Marianne Giglio was appointed as the interim successor to Mr. Sartori on the same date.
Management Commentary and Background
Ms. Giglio, age 52, joined the company from Circor Aerospace & Defense, where she served for over eight years, most recently as Director of Finance/Group Director of Pricing. During her tenure at Circor, she collaborated with Air Industries Group President and CEO Daniel R. Godin to implement a metrics-based employee performance reward system that helped the site exceed corporate financial metrics. She holds a Bachelor of Science in Accounting from SUNY Old Westbury (1989).
Investor Verification Checklist
- Verify the effective date of the interim appointment for Marianne Giglio.
- Confirm whether a permanent Chief Accounting Officer has been identified or if a search is underway.
- Review subsequent filings to ensure no undisclosed financial irregularities prompted the resignation of the previous officer.