Summary
This 8-K filing from The Home Depot, Inc. (HD) primarily announces a key executive departure and appointment. Annette M. Verschuren, Division President – Canada, is leaving the company at the end of fiscal year 2010. She will receive her accrued incentive compensation and severance benefits as per her existing agreements, which includes a non-competition agreement. Aaron Carmack, currently a Regional Vice President, will assume the role of Division President – Canada, effective January 31, 2011. Ms. Verschuren will support the transition. This filing provides insight into leadership changes within a significant international division of Home Depot.
Key Highlights
- 1Annette M. Verschuren, Division President – Canada, is departing The Home Depot.
- 2Ms. Verschuren will receive incentive compensation through the end of fiscal year 2010.
- 3She is also entitled to severance benefits under her non-competition agreement.
- 4Aaron Carmack has been appointed as the new Division President – Canada.
- 5Mr. Carmack's appointment is effective January 31, 2011.
- 6Ms. Verschuren will assist in the transition of duties to Mr. Carmack.
Frequently Asked Questions
Annette M. Verschuren, who holds the position of Division President – Canada, is leaving the company at the end of the 2010 fiscal year.
Ms. Verschuren will receive incentive compensation based on performance through the end of fiscal 2010 under the annual Management Incentive Plan and her fiscal 2008-2010 performance share award. She will also receive severance benefits in accordance with her non-competition agreement.
Aaron Carmack, currently a Regional Vice President for The Home Depot, will be the new Division President – Canada.
Mr. Carmack's appointment is effective January 31, 2011. Ms. Verschuren will remain with the company to assist with the transition until that date.