Summary
This 8-K filing from General Dynamics Corporation (GD) reports a significant leadership change within its Aerospace group. Effective April 9, 2007, Bryan T. Moss will step down as Executive Vice President of the Aerospace group and President of Gulfstream Aerospace Corporation. This transition is notable as Mr. Moss will remain with Gulfstream in a newly created role as President Emeritus until March 31, 2008, indicating a continued, albeit modified, association with the company. Investors should note the financial implications associated with Mr. Moss's transition. He is slated to receive a bonus in March 2008 equivalent to 50% of his March 2007 bonus award, followed by another bonus in March 2009 equal to 25% of his March 2007 bonus award. This structured incentive acknowledges his tenure and likely aims to ensure a smooth handover of responsibilities during his remaining time with the company.
Key Highlights
- 1Bryan T. Moss to resign as EVP of Aerospace and President of Gulfstream Aerospace Corporation, effective April 9, 2007.
- 2Mr. Moss will transition to the role of President Emeritus of Gulfstream Aerospace Corporation until March 31, 2008.
- 3Moss will receive a bonus in March 2008 equal to approximately 50% of his March 2007 bonus award.
- 4Moss will receive a bonus in March 2009 equal to approximately 25% of his March 2007 bonus award.
- 5The press release announcing this change is furnished as an exhibit to the 8-K.
- 6This report was filed on February 12, 2007, with the earliest event date reported as February 8, 2007.