Summary
This Form 8-K filing from Expeditors International of Washington, Inc. (EXPD) on September 30, 2008, primarily announces a significant change in executive leadership. The company has appointed Bradley S. Powell as its new Chief Financial Officer (CFO), effective October 1, 2008. Mr. Powell brings extensive financial experience, having previously served as CFO, President, and Secretary of Eden BioScience Corporation since 1998. Investors should note the compensation package for the new CFO, which includes a base salary of $100,000 annually, eligibility for the Executive Bonus Pool, and a stock option grant of 5,000 shares. This leadership transition is a key event for the company, and Mr. Powell's financial acumen will be crucial in navigating the current economic climate. The filing also includes the press release detailing this appointment as an exhibit.
Key Highlights
- 1Bradley S. Powell appointed as Chief Financial Officer (CFO) effective October 1, 2008.
- 2Mr. Powell has significant prior experience as CFO, President, and Secretary of Eden BioScience Corporation since 1998.
- 3New CFO's annual base salary set at $100,000.
- 4Mr. Powell will be eligible for the Company's Executive Bonus Pool under the 2008 Executive Incentive Compensation Plan.
- 5A stock option grant of 5,000 shares from the 2008 Stock Option Plan will be awarded to Mr. Powell.
- 6The press release announcing the appointment is filed as Exhibit 99.1.