Business Context and Reporting Period
This Form 8-K Current Report was filed by Research Solutions, Inc. on January 8, 2018. The filing addresses corporate governance changes, specifically the departure of a director and the appointment of a new director to the Board.
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 statements or performance data for the company.
Material Changes
- Director Departure: Janice Peterson resigned as a member of the Board of Directors effective January 8, 2018.
- Director Appointment: Roy W. Olivier was appointed to fill the vacant seat on the Board, effective January 9, 2018.
Management Commentary and Background
Management highlighted Mr. Olivier's extensive experience in digital content and business transformation. His background includes:
- Serving as President and CEO of ARI Network Services, Inc. since 2008, where he grew revenues from $15 million in FY07 to $52 million in FY17.
- Delivering nearly a 700% return to shareholders at ARI since 2011.
- Founding Media Solutions International, Inc. (sold to Bell & Howell/Snap-on) and Multicom.
- Previous operational roles at Fortune 1000 companies including Pacific Telesis, Tandy Corporation, and BusinessLand.
A press release regarding the appointment was issued on January 12, 2018, and is included as Exhibit 99.1.
Investor Verification Checklist
- Verify the effective date of Janice Peterson's resignation and Roy W. Olivier's appointment.
- Review the attached press release (Exhibit 99.1) for additional details on the new director's role.
- Confirm that no other material financial or operational events were omitted from this specific filing.