Summary
Allegheny Technologies Incorporated (ATI) filed an 8-K on July 15, 2013, to announce a significant executive change. The company reported the retirement of its Chief Financial Officer (CFO), Dale G. Reid, effective immediately. This departure marks a transition in the company's financial leadership, and investors will be looking for continuity and stability during this period. In conjunction with Mr. Reid's retirement, ATI also announced the appointment of Patrick J. DeCourcy as the Interim CFO. Mr. DeCourcy, aged 51, will receive an annual base salary of $325,000 and will continue to be eligible for the company's standard employee benefit plans. The filing includes the press release detailing these changes as an exhibit.
Key Highlights
- 1The company announced the retirement of its Chief Financial Officer (CFO), Dale G. Reid, effective July 15, 2013.
- 2Patrick J. DeCourcy has been appointed as the Interim Chief Financial Officer.
- 3Mr. DeCourcy's annual base salary as Interim CFO is set at $325,000.
- 4He will continue to participate in the company's general benefit plans for salaried employees.
- 5The announcement was made via a press release filed as Exhibit 99.1 to the 8-K.
- 6This filing indicates a change in key financial leadership at ATI.
Frequently Asked Questions
The company is reporting this event because its Chief Financial Officer, Dale G. Reid, retired from his position effective July 15, 2013. Such changes in key executive roles are material information for investors.
Patrick J. DeCourcy has been appointed as the Interim Chief Financial Officer to succeed Dale G. Reid. He will manage the company's financial operations during this transition period.
Patrick J. DeCourcy will receive an annual base salary of $325,000 for his role as Interim Chief Financial Officer. He will also continue to participate in the company's standard benefit plans offered to salaried employees.
No, this specific 8-K filing focuses on executive changes (CFO retirement and interim appointment) and does not contain detailed financial performance results or statements. Those would typically be found in a Form 10-Q or 10-K filing.