Business Context and Reporting Period
This Form 8-K Current Report was filed by Rayonier Advanced Materials Inc. on December 11, 2015. The filing addresses Item 5.02 regarding the appointment of a senior officer and the departure of another from a specific role.
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
The primary material change reported is the appointment of John P. Carr as Chief Accounting Officer and Vice President, Controller, effective January 1, 2016. Mr. Carr will replace Mr. Frank A. Ruperto in the Chief Accounting Officer role. Mr. Ruperto will retain his position as Chief Financial Officer, Senior Vice President, Finance and Strategy.
Management Commentary and Compensation
Mr. Carr, age 45, has been with the company since the spin-off from Rayonier Inc. in June 2014. He holds a Bachelor of Business Administration in Accounting and is a Certified Public Accountant. His compensation will include salary, bonus, and equity awards consistent with his seniority, along with standard health, welfare, and retirement benefits. The filing confirms no related party transactions or family relationships exist between Mr. Carr and the company's directors or officers.
Investor Verification Points
- Confirm the effective date of the leadership transition (January 1, 2016).
- Verify that Mr. Frank A. Ruperto remains as Chief Financial Officer.
- Review the Company's Incentive Stock Plan details regarding Mr. Carr's equity awards.
- Note that this filing contains no financial results or guidance updates.