Business Context and Reporting Period
This Form 8-K Current Report was filed by Cooper-Standard Holdings Inc. on December 15, 2010, covering events occurring on December 9, 2010, and December 13, 2010. The filing addresses significant changes in the Company's executive leadership structure.
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 President: Edward A. Hasler notified the Company on December 9, 2010, of his intention to retire from his position as President, effective July 1, 2011.
- Appointment of Chief Operating Officer: On December 13, 2010, the Board of Directors appointed Keith D. Stephenson (age 50) as Chief Operating Officer, effective immediately.
- Executive Background: Mr. Stephenson previously served as President of the International Division since March 2009 and held various senior roles at Hendrickson and Boler Company prior to joining Cooper-Standard.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, market outlook, or specific risk factors. Regarding Mr. Stephenson's appointment, the Company stated that information regarding any material changes to his compensatory arrangement will be disclosed in a subsequent amendment to this Form 8-K. A press release dated December 15, 2010, detailing these appointments is incorporated by reference as Exhibit 99.1.
Investor Verification Checklist
- Verify the effective date of Edward A. Hasler's retirement (July 1, 2011) and the interim leadership structure.
- Monitor for the upcoming Form 8-K amendment detailing Mr. Stephenson's compensatory arrangements.
- Review the attached press release (Exhibit 99.1) for additional context on the leadership transition.