Business Context and Reporting Period
This Form 8-K Current Report was filed by Applied Materials, Inc. on October 23, 2006. The filing addresses a corporate governance event regarding the appointment of a principal officer effective November 1, 2006, coinciding with the start of fiscal year 2007.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on personnel changes and related disclosures.
Material Changes
- Executive Appointment: The Board of Directors appointed George S. Davis as Chief Financial Officer (CFO), effective November 1, 2006.
- Executive Departure: Nancy H. Handel, CFO since 2004, is retiring. She will remain with the company through January 5, 2007, to assist with the transition.
- Loan Repayment: Mr. Davis fully repaid a $500,000 interest-free relocation loan granted in June 2002 prior to his appointment as CFO.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business performance. No specific risks or contingencies are disclosed other than the standard transition of leadership duties. The company has not entered into a formal employment agreement with Mr. Davis at the time of this filing.
Investor Verification Checklist
- Confirm the effective date of George S. Davis's tenure as CFO (November 1, 2006).
- Verify the transition timeline for outgoing CFO Nancy H. Handel (through January 5, 2007).
- Review the attached press release (Exhibit 99.1) for additional details on the appointment.
- Note the absence of a formal employment agreement for the new CFO in this filing.