8-KLeadership ChangesExhibits & Filings

CORPAY, INC. 8-K Report, Executive Changes (Aug 12, 2020)

Filed August 12, 2020For Securities:CPAY

Summary

This Form 8-K filing from CORPAY, INC. (formerly FLEETCOR Technologies, Inc.) announces a significant leadership transition in its finance department. Effective September 1, 2020, Eric R. Dey will retire as Chief Financial Officer (CFO) and Principal Accounting Officer. Mr. Dey will provide a smooth transition by remaining with the company as a senior advisor until the end of the year. Charles R. Freund has been appointed as the new CFO. Mr. Freund has a long tenure with FLEETCOR, joining in 2000 and holding various senior executive roles including executive vice president for strategy, global sales, president of developing markets, and vice president of UK card issuing. His extensive experience within the company positions him to take on this critical role. The terms of his employment, including compensation, are still to be finalized.

Key Highlights

  • 1Eric R. Dey is retiring as CFO and Principal Accounting Officer, effective September 1, 2020.
  • 2Charles R. Freund has been appointed as the new CFO, effective September 1, 2020.
  • 3Mr. Dey will serve as a senior advisor through the end of 2020 to ensure a smooth leadership transition.
  • 4Mr. Freund has been with FLEETCOR since December 2000, holding various senior leadership positions.
  • 5Mr. Freund's previous roles include executive vice president for strategy and executive vice president of global sales.
  • 6The terms of Mr. Freund's employment and compensation are subject to agreement prior to his assumption of the CFO role.
  • 7The company issued a press release on August 6, 2020, detailing these changes.

Frequently Asked Questions

The filing states that Mr. Dey is retiring from his roles as CFO and Principal Accounting Officer. While the specific reasons for his retirement are not detailed, the company has arranged for him to stay on as a senior advisor to ensure a seamless transition.

Charles R. Freund has a long and varied history with FLEETCOR, having joined in December 2000. He has held numerous senior positions, including executive vice president for strategy, executive vice president of global sales, president of developing markets, and vice president of UK card issuing, demonstrating deep operational and strategic experience within the company.

The filing indicates that the terms of Mr. Freund's employment, including his compensation, will be agreed upon prior to him assuming the CFO position. Further details on his compensation package are expected to be disclosed once these terms are finalized.

Mr. Dey's role as a senior advisor through the end of the year is intended to facilitate a smooth and effective transition of responsibilities. This arrangement allows the company to leverage his institutional knowledge and experience during the handover period.