Summary
Cintas Corporation (CTAS) has announced a key executive leadership change through an 8-K filing dated August 3, 2026. Effective August 1, 2026, Jim Rozakis, previously Executive Vice President and Chief Operating Officer (COO), has been appointed President and COO. This move separates the roles of President and Chief Executive Officer, with Todd Schneider continuing as CEO and relinquishing the President title. This change is significant as it realigns executive responsibilities and introduces a new compensation structure for Mr. Rozakis in his expanded role. Investors should note the details of his new compensation package, including base salary, annual cash incentive, and substantial long-term incentive awards, reflecting the increased scope of his responsibilities. The filing also confirms there are no undisclosed arrangements or conflicts of interest related to this appointment.
Key Highlights
- 1Jim Rozakis appointed President and COO, effective August 1, 2026.
- 2CEO Todd Schneider will retain his CEO title and no longer serve as President.
- 3Rozakis's new annual compensation includes a $900,000 base salary.
- 4Target annual cash incentive for Rozakis is $1,125,000.
- 5Significant long-term incentive opportunity for Rozakis, with a target of $4,000,000.
- 6Rozakis will receive one-time restricted stock and stock option awards valued at $112,500 and $337,500 respectively, with standard vesting schedules.
- 7No undisclosed arrangements or family relationships are associated with Rozakis's appointment.