Summary
Lam Research Corporation (LRCX) filed an 8-K on December 5, 2011, primarily disclosing a change in its executive team. The report details the resignation of two key officers: Mr. Steven G. Huffman, Senior Vice President, Chief Financial Officer, and Treasurer, and Mr. Timothy J. Lavelle, Senior Vice President, Corporate Controller. These departures are effective as of November 29, 2011. The company has also announced the appointment of Mr. Douglas L. Kissinger as interim Chief Financial Officer, effective November 29, 2011. This information is crucial for investors as it signals potential leadership changes and impacts the financial stewardship of the company.
Key Highlights
- 1Resignation of Steven G. Huffman as Senior Vice President, Chief Financial Officer, and Treasurer, effective November 29, 2011.
- 2Resignation of Timothy J. Lavelle as Senior Vice President, Corporate Controller, effective November 29, 2011.
- 3Appointment of Douglas L. Kissinger as interim Chief Financial Officer, effective November 29, 2011.
- 4The 8-K filing falls under Item 5.02 (Departure of Directors or Certain Officers) and Item 9.01 (Financial Statements and Exhibits).
- 5The filing date was December 4, 2011, with an event date of November 29, 2011, indicating a prompt disclosure of these executive changes.
Frequently Asked Questions
The primary events reported are the resignations of the Chief Financial Officer, Steven G. Huffman, and the Corporate Controller, Timothy J. Lavelle. Additionally, the appointment of Douglas L. Kissinger as interim Chief Financial Officer was announced.
All changes, including the resignations and the interim appointment, were effective as of November 29, 2011.
The provided excerpt of the 8-K filing does not specify the reasons for the departures of Mr. Huffman and Mr. Lavelle. Typically, full 8-K filings would contain more detail on this, often stating if it was voluntary, for cause, or due to other circumstances.
Mr. Douglas L. Kissinger has been appointed as the interim Chief Financial Officer.