8-KLeadership ChangesOther EventsExhibits & Filings

ATMOS ENERGY CORP 8-K Report, Executive Changes (Aug 8, 2017)

Filed August 8, 2017For Securities:ATO

Summary

Atmos Energy Corporation (ATO) announced significant executive leadership changes through an 8-K filing on August 8, 2017. Effective October 1, 2017, Michael E. Haefner, currently President and Chief Operating Officer, will assume the role of President and Chief Executive Officer. Concurrently, Kim R. Cocklin, the current CEO, will transition to the position of Executive Chairman of the Board. These transitions reflect a planned succession for the top leadership positions within the company. Additionally, the company appointed Karen E. Hartsfield as Senior Vice President, General Counsel, and Corporate Secretary, effective August 7, 2017. The filing also details the compensation adjustments associated with these executive changes, including an increase in Mr. Haefner's base salary and incentive targets, and a salary adjustment for Mr. Cocklin. Investors should note these leadership changes as they may signal strategic direction and operational continuity.

Key Highlights

  • 1Michael E. Haefner appointed President and CEO, effective October 1, 2017.
  • 2Kim R. Cocklin transitions from CEO to Executive Chairman of the Board, effective October 1, 2017.
  • 3Karen E. Hartsfield appointed Senior Vice President, General Counsel, and Corporate Secretary, effective August 7, 2017.
  • 4Mr. Haefner's annual base salary to increase from $650,000 to $850,000, with commensurate incentive target increases.
  • 5Mr. Cocklin's annual base salary to be reduced from $1,004,500 to $850,000.
  • 6The filing includes news releases detailing these management changes as exhibits.

Frequently Asked Questions

The most significant changes are the appointment of Michael E. Haefner as the new President and CEO, and the transition of Kim R. Cocklin to Executive Chairman of the Board, both effective October 1, 2017. Additionally, Karen E. Hartsfield was appointed Senior Vice President, General Counsel, and Corporate Secretary, effective August 7, 2017.

Effective October 1, 2017, Mr. Haefner's annual base salary will increase from $650,000 to $850,000. He will also receive a commensurate increase in his incentive target awards under the company's short-term and long-term incentive compensation plans, and continue his participation in applicable benefit plans.

Mr. Cocklin will transition from his role as CEO to become the Executive Chairman of the Board, effective October 1, 2017. His annual base salary will be adjusted to $850,000, and he will continue to participate in the company's benefit plans.

Yes, Karen E. Hartsfield has been appointed Senior Vice President, General Counsel, and Corporate Secretary, effective August 7, 2017. She brings significant legal experience, including a background in private practice.