8-KLeadership Changes

DANAHER CORP /DE/ 8-K Report, Executive Changes (Jan 25, 2007)

Filed January 25, 2007For Securities:DHR

Summary

Danaher Corporation (DHR) filed an 8-K on January 25, 2007, to report a significant executive transition. Patrick W. Allender, Executive Vice President, has announced his retirement, which will be effective February 28, 2007. This marks the end of his tenure as a principal officer of the company. In a move aimed at ensuring a smooth transition and leveraging Mr. Allender's expertise, Danaher has entered into a consulting agreement with him. Commencing April 1, 2007, Mr. Allender will provide consulting services to the company for a monthly retainer of $20,000. This agreement includes provisions for termination by either party with 30 days' notice and standard confidentiality clauses. Investors may view this as a strategic decision to retain valuable knowledge and experience during the post-retirement period.

Key Highlights

  • 1Executive Vice President Patrick W. Allender to retire effective February 28, 2007.
  • 2Danaher Corporation has entered into a consulting agreement with Mr. Allender post-retirement.
  • 3Mr. Allender will provide consulting services for a monthly retainer of $20,000, starting April 1, 2007.
  • 4The consulting agreement has a 30-day termination notice period for both parties.
  • 5Standard confidentiality provisions are included in the consulting agreement.

Frequently Asked Questions

Patrick W. Allender, Executive Vice President, is retiring from Danaher Corporation, with his retirement effective February 28, 2007.

The company has entered into a consulting agreement with Mr. Allender, under which he will provide consulting services to Danaher Corporation for a monthly retainer of $20,000, commencing April 1, 2007.

Yes, the agreement allows either party to terminate with 30 days' prior written notice and includes customary confidentiality provisions. It also allows for immediate termination in case of a material breach that is not cured within ten days.