8-KLeadership ChangesExhibits & Filings

AMETEK INC/ 8-K Report, Executive Changes (Jul 25, 2008)

Filed July 25, 2008For Securities:AME

Summary

AMETEK, Inc. (AME) filed an 8-K report on July 25, 2008, announcing a significant leadership change within its Electronic Instruments Group. John Wesley Hardin was appointed as the new President of this group, effective July 23, 2008. This appointment comes as the current President, Robert W. Chlebek, has announced his intention to retire at the end of 2008. The filing details Mr. Hardin's compensation package, which includes an increased base salary, target bonus, and a restricted stock award, reflecting the importance of his new role. Investors should note that Mr. Hardin has a proven track record within AMETEK, having served in various leadership positions, most recently as Senior Vice President - Aerospace and Defense. The report also clarifies that Mr. Hardin's appointment is not contingent on any external arrangements and that he has a change of control agreement in place. The company also included a press release dated July 24, 2008, as an exhibit.

Key Highlights

  • 1AMETEK appointed John Wesley Hardin as President, Electronic Instruments Group, effective July 23, 2008.
  • 2The current President, Robert W. Chlebek, intends to retire at the end of 2008.
  • 3Mr. Hardin's new role includes a base salary of $300,000 and a target bonus of $195,000.
  • 4Mr. Hardin received a restricted stock incentive award valued at $198,680 upon his appointment.
  • 5Mr. Hardin has prior experience as Senior Vice President - Aerospace and Defense since October 2004.
  • 6Mr. Hardin is covered by a Termination and Change of Control Agreement.
  • 7A press release dated July 24, 2008, is filed as Exhibit 99.1.

Frequently Asked Questions

John Wesley Hardin, age 43, has been appointed as the new President of AMETEK's Electronic Instruments Group, effective July 23, 2008.

The current President, Robert W. Chlebek, has announced his intention to retire at the end of 2008, leading to the appointment of John Wesley Hardin to succeed him.

In connection with his appointment, Mr. Hardin's base salary was increased to $300,000, his target bonus to $195,000, and he received a long-term restricted stock incentive award valued at $198,680.

Yes, Mr. Hardin is party to a Termination and Change of Control Agreement with AMETEK, which provides for severance benefits under specific termination circumstances related to a change in control.