Summary
Danaher Corporation (DHR) filed an 8-K on August 24, 2021, reporting significant leadership transitions in its accounting and human resources departments. Robert S. Lutz, Senior Vice President and Chief Accounting Officer, will step down effective January 1, 2022, but will continue to provide services on a part-time basis. He will be succeeded by Christopher M. Bouda, currently Vice President-Finance, who will see an increase in his base salary to $475,000, a target incentive compensation of 60%, and an annual equity award valued at $500,000. Additionally, Angela S. Lalor, Senior Vice President of Human Resources, will step down effective April 1, 2022, and will also continue to offer services part-time. Georgeann F. Couchara, currently Vice President-Talent, will assume her role. These changes represent planned leadership succession, ensuring continuity in critical functions while benefiting from the continued, albeit reduced, involvement of the outgoing executives. Investors should note the clear succession planning and the defined compensation packages for the incoming officers.
Key Highlights
- 1Robert S. Lutz, SVP-Chief Accounting Officer, to step down January 1, 2022, with part-time transition.
- 2Christopher M. Bouda appointed as new VP-Chief Accounting Officer effective January 1, 2022.
- 3Christopher M. Bouda's new compensation includes an annual base salary of $475,000.
- 4Bouda will have a 60% target for annual cash incentive compensation.
- 5Bouda to receive a $500,000 annual equity award (options and RSUs) in 2022.
- 6Angela S. Lalor, SVP-Human Resources, to step down April 1, 2022, with part-time transition.
- 7Georgeann F. Couchara appointed as new SVP-Human Resources effective April 1, 2022.