8-KLeadership ChangesExhibits & Filings

DOVER Corp 8-K Report, Executive Changes (Jun 8, 2009)

Filed June 8, 2009For Securities:DOV

Summary

Dover Corporation (DOV) announced a significant leadership transition through an 8-K filing on June 8, 2009. The company has appointed Brad M. Cerepak as the new Chief Financial Officer (CFO), succeeding the retiring Robert G. Kuhbach. Mr. Kuhbach will transition out of his CFO role on July 31, 2009, after assisting with the handover, and will continue in a senior advisory capacity. Mr. Cerepak brings extensive financial leadership experience from previous roles at Trane, Inc. and Honeywell International, Inc. In addition to the CFO change, the filing also disclosed the retirement of David J. Ropp, CEO of Dover Industrial Products, Inc., effective July 10, 2009. Tom Giacomini will be promoted to succeed Mr. Ropp. The company is also recognizing Mr. Ropp's service with a substantial bonus. These executive changes signal potential shifts in financial strategy and operational leadership within Dover Corporation.

Key Highlights

  • 1Dover Corporation appointed Brad M. Cerepak as the new Chief Financial Officer (CFO), replacing retiring CFO Robert G. Kuhbach.
  • 2Robert G. Kuhbach will transition from CFO on July 31, 2009, and remain in a senior advisory role.
  • 3Brad M. Cerepak's compensation includes an annual salary of $525,000 and a target bonus of 80% of his salary.
  • 4Mr. Cerepak will receive a one-time grant of Stock Appreciation Rights (SSARs) based on his annual salary and the company's stock price.
  • 5David J. Ropp, CEO of Dover Industrial Products, Inc., will retire on July 10, 2009.
  • 6Mr. Ropp will receive a retirement bonus of $1,416,250 in recognition of his service.
  • 7Tom Giacomini will be promoted to President and CEO of Dover Industrial Products, Inc.

Frequently Asked Questions

Brad M. Cerepak has been appointed as the new CFO of Dover Corporation. He will officially assume the role on July 31, 2009, succeeding Robert G. Kuhbach.

Mr. Cerepak has significant financial leadership experience, previously serving as Vice President and Controller of Trane, Inc. and as CFO and VP of Strategic Planning for American Standard's Bath and Kitchen division. He also held senior finance roles at Honeywell International, Inc.

Mr. Cerepak's compensation includes an annual salary of $525,000, a target annual bonus of 80% of his salary, and a one-time grant of Stock Appreciation Rights (SSARs) based on his salary and the company's stock price on his start date.

Yes, David J. Ropp, Vice President and CEO of Dover Industrial Products, Inc., is retiring effective July 10, 2009, and will receive a bonus of $1,416,250. Tom Giacomini will be promoted to President and CEO of Dover Industrial Products, Inc. to succeed Mr. Ropp.