Business Context and Reporting Period
This Form 8-K filing by Empire State Realty Trust, Inc. and Empire State Realty OP, L.P. reports a significant executive leadership change effective August 1, 2019. The filing addresses the departure of the Chief Financial Officer and the appointment of interim leadership.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes rather than financial performance data.
Material Changes
- Departure: David A. Karp resigned as Executive Vice President and Chief Financial Officer, stepping down as the principal financial officer for both the Trust and the Operating Partnership.
- Interim Appointment: Andrew J. Prentice, Chief Accounting Officer and Treasurer, was appointed as the acting Chief Financial Officer.
- Principal Financial Officer: John B. Kessler, President and Chief Operating Officer, assumed the role of principal financial officer, to whom Mr. Prentice reports on all financial matters.
- Search Process: The Company has retained Korn Ferry (US) to assist in identifying a permanent replacement for the Chief Financial Officer.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of market risks. The primary contingency noted is the ongoing search for a permanent CFO. Management commentary is limited to the transition of duties and the retention of an executive search firm.
Investor Verification Checklist
- Verify the timeline for the permanent CFO search and any updates from Korn Ferry.
- Review the Definitive Proxy Statement filed on April 4, 2019, for detailed background on John B. Kessler's assumption of the principal financial officer role.
- Monitor subsequent filings for the appointment of a permanent Chief Financial Officer.
- Confirm that no other undisclosed financial or operational issues are linked to the CFO departure.