Summary
This Form 8-K filing from The McGraw-Hill Companies, Inc. (now S&P Global Inc.) announces a significant change in its principal accounting officer. Effective November 1, 2008, Emmanuel Korakis was appointed Senior Vice President and Corporate Controller, also assuming the role of the company's principal accounting officer. This appointment follows Mr. Bahash's temporary assumption of these duties. Mr. Korakis brings a strong background in financial reporting and auditing, having previously held senior finance roles at Motorola and Symbol Technologies, as well as experience at KPMG LLP. Investors should note the compensation package for Mr. Korakis, which includes a base salary of $215,000, a long-term share award valued at $55,000 (comprising restricted shares and stock options with specific vesting schedules), and participation in existing management benefit plans. This appointment is a standard corporate governance update and suggests a focus on strengthening the financial reporting and oversight functions within the company.
Key Highlights
- 1Appointment of Emmanuel Korakis as Senior Vice President and Corporate Controller, effective November 1, 2008.
- 2Mr. Korakis will also serve as the principal accounting officer of the company.
- 3Robert J. Bahash, Executive Vice President and Chief Financial Officer, will no longer serve as the principal accounting officer.
- 4Mr. Korakis's prior experience includes roles at Motorola, Symbol Technologies, and KPMG LLP.
- 5Mr. Korakis's compensation includes a base salary of $215,000.
- 6A long-term share award valued at $55,000, comprising 75% restricted shares and 25% stock options, with defined vesting periods.
- 7Mr. Korakis will participate in the Management Severance Plan and Management Death and Disability Benefits Plan.