8-KLeadership Changes

S&P Global Inc. 8-K Report, Executive Changes (Nov 5, 2008)

Filed November 5, 2008For Securities:SPGI

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.

Frequently Asked Questions

Emmanuel Korakis has been appointed as the new principal accounting officer, effective November 1, 2008. He will also serve as Senior Vice President and Corporate Controller.

Mr. Korakis will receive a base salary of $215,000, a long-term share award valued at $55,000 (75% restricted shares, 25% stock options) with specific vesting conditions, and will participate in the company's management severance and death/disability benefit plans.

Emmanuel Korakis has a strong financial background. He was previously Senior Director, Financial Reporting at The McGraw-Hill Companies since March 2007, and prior to that, held senior finance roles at Motorola and Symbol Technologies, as well as experience at KPMG LLP.

No, Robert J. Bahash, Executive Vice President and Chief Financial Officer, had temporarily assumed the duties of principal accounting officer since June 3, 2008, and ceased to serve in that capacity upon Mr. Korakis's appointment.