Summary
Quanta Services, Inc. (PWR) filed an 8-K on March 15, 2021, to report on a key executive change. Jerry K. Lemon has officially resigned from his position as Chief Accounting Officer and principal accounting officer, effective March 12, 2021. The filing clarifies that Mr. Lemon's departure was not due to any disagreements with the company or its auditor regarding accounting practices, financial reporting, internal controls, or operations. In response to this vacancy, Derrick A. Jensen, the current Chief Financial Officer, has stepped in to serve as the interim principal accounting officer, effective March 12, 2021. Mr. Jensen brings extensive experience to this role, having previously served as Chief Accounting Officer from 1999 to May 2017. The company is currently undertaking a search for a permanent Chief Accounting Officer. Investors should note that this is an interim appointment and the company plans to fill the permanent role.
Key Highlights
- 1Jerry K. Lemon resigned as Chief Accounting Officer and principal accounting officer, effective March 12, 2021.
- 2Mr. Lemon's resignation was not related to any disagreements concerning accounting, financial reporting, or internal controls.
- 3Derrick A. Jensen, the current CFO, has been appointed as the interim principal accounting officer.
- 4Mr. Jensen has prior experience as the company's Chief Accounting Officer from 1999 to May 2017.
- 5The company is actively searching for a permanent replacement for the Chief Accounting Officer position.
- 6No new compensation arrangements or undisclosed transactions are reported for Mr. Jensen in this filing.