Business Context and Reporting Period
This Form 8-K Current Report was filed by Burlington Stores, Inc. on September 13, 2019. The report addresses significant changes in the company's executive leadership effective on the date of the report.
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
- Departure of CFO: Marc Katz resigned as Chief Financial Officer and Principal Financial Officer effective September 13, 2019.
- Appointment of Interim CFO: John Crimmins, previously the Executive Vice President, Finance and Chief Accounting Officer, was appointed as interim Chief Financial Officer effective September 13, 2019.
Management Commentary and Risks
John Crimmins joined the company in March 2011 and has served in senior finance roles since that time. The filing states that changes to Mr. Crimmins' compensation arrangements have not yet been determined and will be disclosed in a future amendment to this report. The company confirmed there are no family relationships between Mr. Crimmins and other executives or directors, and no undisclosed transactions requiring disclosure under Item 404(a) of Regulation S-K. A press release detailing these changes was issued on September 16, 2019.
Investor Verification Checklist
- Verify the timeline for the search and appointment of a permanent Chief Financial Officer.
- Monitor for the upcoming Form 8-K amendment detailing Mr. Crimmins' compensation arrangements.
- Review the press release (Exhibit 99.1) for additional context on the leadership transition.