8-KOther Events

SPDR GOLD TRUST 8-K Report, Corporate Update (Aug 1, 2014)

Filed August 1, 2014For Securities:GLD

Summary

This Form 8-K filing by SPDR Gold Trust (GLD) on August 1, 2014, announces a key leadership change within its sponsor, World Gold Trust Services, LLC (WGTS). Kevin Feldman resigned as CEO of WGTS, effective August 15, 2014. This departure is noted as a personal decision and not related to performance or operational issues of the Trust. Investors should note that the Trust's operations and policies are not directly impacted by this change in sponsor management. In response to Mr. Feldman's resignation, the Board of Directors of WGTS appointed Aram Shishmanian as the Acting CEO, effective August 15, 2014. Mr. Shishmanian brings extensive experience, having served as Executive Director of WGTS and CEO of the World Gold Council since 2009. His background also includes significant leadership roles at Accenture and various directorships, suggesting a seasoned professional will be overseeing the sponsor's responsibilities. The filing aims to provide transparency regarding this change in sponsor leadership.

Key Highlights

  • 1Kevin Feldman resigned as CEO of World Gold Trust Services, LLC (WGTS), the sponsor of SPDR Gold Trust (GLD), effective August 15, 2014.
  • 2Mr. Feldman's resignation was a personal decision and not due to performance issues or matters related to the Trust's operations, policies, or practices.
  • 3Aram Shishmanian has been appointed as the Acting CEO of WGTS, effective August 15, 2014.
  • 4Mr. Shishmanian has a strong background, including serving as CEO of the World Gold Council since 2009.
  • 5Mr. Shishmanian also has extensive experience from his 27 years at Accenture in various leadership roles.
  • 6The filing confirms that the change is at the sponsor level (WGTS) and not directly within the Trust's operational management.
  • 7The report is filed to inform stakeholders of this significant leadership transition at the Trust's sponsor.

Frequently Asked Questions

The main event reported is the resignation of Kevin Feldman as the Chief Executive Officer of World Gold Trust Services, LLC (WGTS), the sponsor of the SPDR Gold Trust (GLD), and the subsequent appointment of Aram Shishmanian as Acting CEO of WGTS.

The filing states that Kevin Feldman's resignation was a personal decision and not related to the operations, policies, or practices of the Trust itself. The change is at the sponsor level (WGTS), and Aram Shishmanian, the incoming Acting CEO, has a strong background with the World Gold Council and significant experience, suggesting continuity in the sponsor's oversight role.

Aram Shishmanian is appointed as the Acting CEO of WGTS. He has been the Executive Director of WGTS, and prior to that, served as the CEO of the World Gold Council since January 2009. He also has extensive experience from his 27 years at Accenture and has held various board positions.

Kevin Feldman's resignation is effective August 15, 2014. Aram Shishmanian's appointment as Acting CEO of WGTS is also effective on August 15, 2014.