8-KLeadership Changes

COMFORT SYSTEMS USA INC 8-K Report, Executive Changes (Oct 14, 2008)

Filed October 14, 2008For Securities:FIX

Summary

Comfort Systems USA, Inc. (FIX) announced a significant leadership transition through a Form 8-K filing dated October 13, 2008. Effective January 1, 2009, Brian E. Lane will be appointed as the new Executive Vice President and Chief Operating Officer. Mr. Lane, who has been with the company since 2003 and previously held senior roles in Region One, brings extensive experience from his tenure at Halliburton and Kvaerner, including international operations and business development. This appointment signifies a planned succession for the COO role. Thomas N. Tanner, the current Executive Vice President and Chief Operating Officer, will transition to a new role as Executive Vice President Corporate and Business Development on the same date. Investors should note that Mr. Lane's compensation for his new role as COO is still under negotiation. His existing agreements include a severance policy and a change-in-control provision.

Key Highlights

  • 1Brian E. Lane appointed Executive Vice President and Chief Operating Officer, effective January 1, 2009.
  • 2Thomas N. Tanner to transition from COO to Executive Vice President Corporate and Business Development on January 1, 2009.
  • 3Mr. Lane's extensive experience includes 15 years at Halliburton and roles at Kvaerner, with a background in business development and international operations.
  • 4Mr. Lane has been with Comfort Systems USA since October 2003, most recently as Senior Vice President for Region One.
  • 5Mr. Lane's compensation for the COO role is currently under negotiation.
  • 6Mr. Lane's existing agreements include a Change-in-Control Agreement with specific payment terms and a non-compete provision.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce a planned leadership transition within Comfort Systems USA, Inc., specifically the appointment of a new Chief Operating Officer and the transition of the current COO to a different role.

Brian E. Lane will be appointed as the new Executive Vice President and Chief Operating Officer, with the change taking effect on January 1, 2009.

Thomas N. Tanner will transition from his role as Executive Vice President and Chief Operating Officer to become Executive Vice President Corporate and Business Development.

No, Mr. Lane's compensation for serving as the Company's Chief Operating Officer is still currently under negotiation.