8-KLeadership ChangesShareholder Matters

CURTISS WRIGHT CORP 8-K Report, Executive Changes (May 12, 2020)

Filed May 12, 2020For Securities:CW

Summary

Curtiss-Wright Corporation (CW) filed an 8-K on May 12, 2020, primarily detailing two key events. Firstly, the company announced the appointment of Mr. Gary Ogilby as Vice President and Corporate Controller, effective May 12, 2020. Mr. Ogilby brings extensive experience within Curtiss-Wright, having previously served in roles such as Vice President – Finance and Administration of the Surface Technologies division, Assistant Corporate Controller, and Manager of External Reporting. His prior experience includes auditing public multinational companies with Ernst & Young. This appointment signifies an internal promotion to a critical financial leadership role. Secondly, the filing provides the results of the company's Annual Meeting of Stockholders held on May 7, 2020. Key outcomes include the election of directors, the ratification of Deloitte & Touche LLP as the independent registered public accounting firm for 2020, and the advisory approval of executive compensation.

Key Highlights

  • 1Gary Ogilby appointed as Vice President and Corporate Controller, reporting to the CFO.
  • 2Mr. Ogilby has a strong internal track record with Curtiss-Wright since 2010, including significant roles in finance and accounting.
  • 3Prior experience at Ernst & Young enhances the company's accounting and auditing oversight.
  • 4All director nominees were elected by shareholders.
  • 5Deloitte & Touche LLP was ratified as the independent registered public accounting firm for 2020 with overwhelming support.
  • 6Shareholders provided advisory approval for the compensation of named executive officers.

Frequently Asked Questions

Mr. Ogilby's appointment to this key financial leadership role signifies internal growth and recognition of his extensive experience within Curtiss-Wright. His background in various financial and accounting positions, both within the company and at Ernst & Young, suggests a deepening of the company's financial controls and reporting capabilities.

The Annual Meeting resulted in the election of all nominated directors, the ratification of Deloitte & Touche LLP as the independent auditor for 2020 with strong shareholder approval, and an advisory vote in favor of the executive compensation.

The filing explicitly states there are no family relationships with other executives or directors, nor any undisclosed arrangements or material interests in transactions requiring disclosure. This indicates a standard, appointment based on merit and experience.

Shareholders approved the compensation paid to named executive officers on an advisory basis. While the majority voted in favor, there was a notable number of 'against' and 'abstention' votes, along with a significant number of broker non-votes, suggesting mixed but generally positive sentiment.