Summary
Fair Isaac Corporation (FICO) announced the resignation of its Executive Vice President and Chief Operating Officer, Michael Campbell, effective November 11, 2009. Mr. Campbell will remain with the company as an employee until December 31, 2009, to facilitate a smooth transition. This departure is stated to be for personal reasons and is accompanied by a transition agreement outlining the terms of his separation. Investors should note that while a key executive is leaving, the company has a process in place for his departure and transition.
Key Highlights
- 1Michael Campbell, EVP and Chief Operating Officer, has resigned from Fair Isaac Corporation.
- 2The resignation is effective immediately from his officer position but Mr. Campbell will remain an employee until December 31, 2009.
- 3The reason for resignation is cited as personal.
- 4A transition agreement has been entered into between Mr. Campbell and the Company.
- 5Mr. Campbell will receive payments related to his separation as per a prior letter agreement.
- 6The company filed a press release dated November 17, 2009, related to this event.
Frequently Asked Questions
Michael Campbell is resigning for personal reasons, as stated in the filing.
While he stepped down from his officer position immediately on November 11, 2009, he will remain an employee of the company through December 31, 2009, to assist with the transition.
Mr. Campbell will receive payments in connection with his separation as outlined in a transition agreement and a prior letter agreement. The specifics of these payments are detailed in the filed transition agreement (Exhibit 10.1).
The filing indicates that Mr. Campbell will remain an employee until December 31, 2009, to facilitate a transition, suggesting the company is managing the handover process.