8-KLeadership ChangesExhibits & Filings

DANAHER CORP /DE/ 8-K Report, Executive Changes (Sep 2, 2014)

Filed September 2, 2014For Securities:DHR

Summary

Danaher Corporation (DHR) filed an 8-K on September 2, 2014, to announce an accelerated leadership transition. Effective September 9, 2014, H. Lawrence Culp, Jr. will retire as President and CEO, though he will remain as a senior advisor until March 1, 2016. This transition marks a significant change in leadership for the company. The Board has appointed Thomas P. Joyce, Jr. as the new President and CEO, also effective September 9, 2014. Mr. Joyce, with a long tenure at Danaher since 1989 and extensive experience in various leadership roles, including his recent position as Executive Vice President-CEO Designate, is well-positioned to lead the company. His deep understanding of Danaher's businesses and its operating philosophy, the Danaher Business System, is highlighted as a key asset for navigating the company's diverse portfolio.

Key Highlights

  • 1Accelerated CEO transition: H. Lawrence Culp, Jr.'s retirement as President and CEO is moved up to September 9, 2014.
  • 2Successor appointed: Thomas P. Joyce, Jr. named as the new President and CEO, effective September 9, 2014.
  • 3Continued advisory role for outgoing CEO: H. Lawrence Culp, Jr. will serve as a senior advisor until March 1, 2016.
  • 4Internal promotion and deep experience: Thomas P. Joyce, Jr. has been with Danaher since 1989 and has held numerous leadership positions.
  • 5Board and committee appointments: Mr. Joyce will also join Danaher's Board of Directors and its Finance and Executive Committees.
  • 6Emphasis on continuity and expertise: Mr. Joyce's familiarity with the Danaher Business System and the company's diverse operations is seen as a strategic advantage.
  • 7Press release attachment: The filing includes a press release detailing these management changes as Exhibit 99.1.

Frequently Asked Questions

This 8-K filing is primarily to announce an accelerated leadership transition at Danaher Corporation. H. Lawrence Culp, Jr. is retiring as President and CEO, and Thomas P. Joyce, Jr. has been appointed as his successor.

Thomas P. Joyce, Jr. will officially assume the roles of President and CEO, as well as join the Board of Directors and its Finance and Executive Committees, effective September 9, 2014.

Yes, H. Lawrence Culp, Jr. will continue his employment with Danaher as a senior advisor until March 1, 2016, following his retirement as President and CEO.

Thomas P. Joyce, Jr. has a long history with Danaher, joining in 1989 and progressing through various senior management roles. His extensive operating and functional experience, coupled with his deep knowledge of Danaher's businesses and the Danaher Business System, are considered highly valuable for leading the company through its diverse portfolio.