Business Context and Reporting Period
This Form 8-K Current Report was filed by Chicago Rivet & Machine Co. on May 9, 2006. The report discloses significant changes in the Company's principal officers and Board of Directors 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 corporate governance and personnel changes.
Material Changes
- Appointment of President and Treasurer: Michael J. Bourg was appointed President and Treasurer, effective May 9, 2006.
- Board Election: Michael J. Bourg was elected to the Company's Board of Directors at the Annual Shareholders Meeting on May 9, 2006.
- Executive Retirement: John C. Osterman's retirement as President, Chief Operating Officer, and Treasurer became effective on May 9, 2006.
- Post-Retirement Role: Mr. Osterman has indicated a willingness to serve as a consultant, and the Company may retain him for such services.
Management Commentary and Background
Mr. Bourg has been with the Company since December 1998, serving as Controller. He was promoted to Executive Vice President in February 2006, having previously served as Vice President - Finance from November 2005 to February 2006. Prior to joining Chicago Rivet & Machine Co., Mr. Bourg worked as an Accounting Manager at Fuchs Lubricants Co. and as a public accountant at McGladrey & Pullen, LLP.
Investor Verification Checklist
- Verify the effective date of John C. Osterman's retirement and the transition of duties to Michael J. Bourg.
- Confirm the terms of any potential consulting agreement with Mr. Osterman.
- Review the Company's subsequent filings for any financial impact related to the leadership transition.