Business Context and Reporting Period
This Form 8-K filing by Commerce Bancshares, Inc. (Missouri) was submitted on April 17, 2019. The report addresses a specific corporate governance event regarding the departure of a senior officer and the appointment of a successor.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the transition of the Controller and Chief Accounting Officer role:
- Departure: Jeffery Aberdeen is retiring effective June 28, 2019.
- Appointment: Paul Steiner was appointed Controller and Chief Accounting Officer effective immediately (April 17, 2019).
Management Commentary and Risks
Management notes that Mr. Steiner, age 47, has been with the company since 2007, previously serving as Assistant Controller and Director of Tax. His prior experience includes roles at other financial institutions and PricewaterhouseCoopers LLP. The filing explicitly states there is no arrangement or understanding between Mr. Steiner and any other person regarding his appointment. No other risks, contingencies, or unusual items are disclosed in this document.
Investor Verification Checklist
- Confirm the effective date of Jeffery Aberdeen's retirement (June 28, 2019).
- Verify Paul Steiner's immediate assumption of duties as Principal Accounting Officer.
- Review subsequent filings for any impact on internal controls or financial reporting timelines during the transition period.