Summary
Moody's Corporation (MCO) announced a significant executive change via an 8-K filing on January 29, 2018. Linda S. Huber, Executive Vice President and Chief Financial Officer (CFO), will be departing her role. While Ms. Huber will remain with the company for a transition period, Moody's has initiated a search for her successor. This change in leadership at the CFO level is a key event for investors to note. Ms. Huber's departure is structured with specific terms. As she is retirement-eligible, she will receive benefits under the company's pension and equity plans, including the continued exercisability of options and pro-rata vesting of performance share grants. Additionally, she will be provided with 52 weeks of salary and benefits continuation under the Moody's Career Transition Plan. The full details of her separation are outlined in the Separation Agreement and Release, filed as an exhibit.
Key Highlights
- 1Linda S. Huber is departing as Executive Vice President and Chief Financial Officer (CFO) of Moody's Corporation.
- 2Ms. Huber will remain with the company for a transitional period to ensure a smooth handover.
- 3Moody's Corporation has commenced a search for a new CFO.
- 4Ms. Huber is retirement-eligible and will receive benefits from defined benefit pension plans and equity plans.
- 5Specific benefits include continued exercisability of stock options and pro-rata vesting of performance share grants.
- 6Ms. Huber will receive 52 weeks of salary and benefits continuation under the Moody's Career Transition Plan.
- 7A Separation Agreement and Release between the Company and Ms. Huber is filed as Exhibit 10.1.