01—Abstract
Summary
Summary of the 8-K filed August 17, 2021. Cited figures are marked; the original filing is the authoritative source.
L3Harris Technologies, Inc. (LHX) filed an 8-K report on August 17, 2021, to announce a key executive change.
Effective August 13, 2021, Ms. Corliss J. Montesi was appointed as the new Vice President and Principal Accounting Officer, succeeding Mr. Todd A. Taylor.
Mr. Taylor is leaving his role but will remain available for a transition period, and there are no reported disagreements concerning financial matters. Ms. Montesi brings extensive financial leadership experience from her previous roles at Stanley Black and Decker and United Technologies Corporation, including Corporate Controller and Global Director of Internal Audit.
Her appointment includes an annual base salary of $415,000a and a short-term incentive target of 60% of her base salary. Investors can view this as a normal course of business for executive transitions, with a seasoned professional taking over a critical financial reporting role.
02—Key points
Key Highlights
- Appointment of Corliss J. Montesi as Vice President and Principal Accounting Officer, effective August 13, 2021.
- Ms. Montesi succeeds Mr. Todd A. Taylor, who will assist with the transition.
- No disagreements reported between the Company and the departing Principal Accounting Officer.
- Ms. Montesi possesses substantial financial expertise from prior roles at Stanley Black and Decker and United Technologies Corporation.
- Ms. Montesi's compensation includes an annual base salary of $415,000 and a short-term incentive target of 60% of base salary.
- Ms. Montesi's appointment involved no undisclosed arrangements, family relationships with other executives, or reportable related-person transactions.
03—Questions
Frequently Asked Questions
Who has been appointed as the new Principal Accounting Officer at L3Harris Technologies?
Ms. Corliss J. Montesi has been appointed as the new Vice President and Principal Accounting Officer, effective August 13, 2021.
What is the compensation package for the new Principal Accounting Officer?
Ms. Montesi's compensation includes an annual base salary of $415,000 and a short-term cash incentive target equal to 60% of her base salary.
Why did the previous Principal Accounting Officer, Mr. Todd A. Taylor, leave his position?
The filing states that Mr. Taylor is succeeding Ms. Montesi in the role, and there are no disagreements regarding the Company's financial condition or reporting. He will be available for a transition period.
Does Ms. Montesi have relevant experience for this role?
Yes, Ms. Montesi has extensive financial leadership experience, including serving as Vice President, Internal Audit at L3Harris, Vice President and Corporate Controller at Stanley Black and Decker, and various financial roles at United Technologies Corporation.
04—Continue