Business Context and Reporting Period
This Form 8-K Current Report was filed by Greatbatch, Inc. on July 7, 2015. The filing reports on corporate governance changes, specifically the election of new directors to the Board of Directors, effective July 2, 2015.
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 and governance matters rather than financial performance.
Material Changes
The primary material change reported is the expansion of the Board of Directors with three new members:
- Jean Hobby: Former Global Strategy Officer at PricewaterhouseCoopers (PwC) with a 33-year career, including roles as CFO and U.S. Sector Leader. She will serve on the Audit Committee and Technology Strategy & Investment Committee.
- M. Craig Maxwell: Vice President and Chief Technology and Innovation Officer at Parker Hannifin Corporation. He will serve on the Audit Committee and Technology Strategy & Investment Committee.
- Filippo Passerini: Operating Executive at The Carlyle Group following a 30-year career at Procter & Gamble, including roles as Group President and Chief Information Officer. He will serve on the Corporate Governance & Nominating Committee and Technology Strategy & Investment Committee.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, management commentary on operations, or specific risk factors. The new directors are entitled to remuneration in accordance with the Company's director compensation program disclosed in the proxy statement filed on April 13, 2015.
Investor Verification Checklist
- Verify the specific compensation amounts for the new directors in the proxy statement filed on April 13, 2015.
- Confirm the effective date of the new directors' terms (July 2, 2015) and their committee assignments.
- Review the attached press release (Exhibit 99.1) for additional context on the strategic rationale for these appointments.