01—Abstract
Summary
Summary of the 8-K filed May 29, 2025. Cited figures are marked; the original filing is the authoritative source.
Skyworks Solutions, Inc. (SWKS) reported in this Form 8-K filed May 29, 2025 that its Board of Directors appointed Robert A.
Schriesheim, a current director since 2006, as interim Chief Financial Officer, effective immediately. The appointment follows the decision of Mark P. Dentinger, who had been expected to join as Chief Financial Officer on June 2, 2025, not to commence employment due to an unforeseen medical condition.
The Company has begun a search for a permanent Chief Financial Officer. Mr. Schriesheim, 65, will serve as the Company's principal financial officer and principal accounting officer on an interim basis, replacing Chief Executive Officer Philip G. Brace, who had held those interim roles since May 9, 2025.
Mr. Schriesheim resigned from the Audit Committee and Compensation Committee of the Board in connection with his appointment. His background includes prior CFO roles at Sears Holdings Corporation, Hewitt Associates, Inc., and Lawson Software, Inc. Compensation under the Offer Letter includes an annualized base salary of $625,000a while serving as interim CFO and a Restricted Stock Unit award granted by dividing $1,200,000 by the closing price of the common stock on May 29, 2025.
The RSU vests on the second anniversary of the start date, with 50%b vesting outright and the remaining 50% vesting based on full months of interim service over a six-month denominator, capped at full vesting. The Company will also reimburse his travel costs, including related taxes.
02—Key points
Key Highlights
- Robert A. Schriesheim, a Board member since 2006, was appointed interim Chief Financial Officer effective May 29, 2025.
- Mark P. Dentinger, who was expected to start as CFO on June 2, 2025, will not join due to an unforeseen medical condition.
- The Company has commenced a search for a permanent Chief Financial Officer.
- Philip G. Brace, CEO, ceases serving as interim principal financial and principal accounting officer, a role he held since May 9, 2025.
- Interim CFO base salary is set at an annualized rate of $625,000 while serving in the role.
- Schriesheim received an RSU award valued at $1,200,000 based on the May 29, 2025 closing price, vesting on the second anniversary of the start date with a service-based component.
- Schriesheim resigned from the Audit Committee and Compensation Committee of the Board.
03—Questions
Frequently Asked Questions
Who is the new interim Chief Financial Officer of Skyworks Solutions?
Robert A. Schriesheim, a current member of the Board of Directors since 2006, was appointed interim Chief Financial Officer effective May 29, 2025. He is 65 years old and previously served as CFO of Sears Holdings Corporation, Hewitt Associates, Inc., and Lawson Software, Inc., and is Chairman of Truax Partners LLC and an Adjunct Associate Professor of Finance at the University of Chicago Booth School of Business.
Why did the Company need to appoint an interim CFO?
Mark P. Dentinger, who had been expected to join as Chief Financial Officer on June 2, 2025, decided not to commence employment with the Company due to an unforeseen medical condition. The Company has started a search for a permanent CFO.
What compensation will the interim CFO receive?
Under the Offer Letter, Mr. Schriesheim's base salary is an annualized rate of $625,000 while he serves as interim CFO. He was also granted an RSU award calculated by dividing $1,200,000 by the May 29, 2025 closing price of the common stock. The Company will also reimburse his travel costs, including related taxes.
When do the interim CFO's RSUs vest?
The RSU vests on the second anniversary of the start date, May 29, 2025, in an amount equal to 50% of the award plus 50% multiplied by a fraction. That fraction's numerator is full months of interim CFO service and its denominator is six, capped at one.
Who was previously serving as the principal financial and accounting officer?
Philip G. Brace, the Company's Chief Executive Officer, had served as principal financial officer and principal accounting officer on an interim basis since May 9, 2025. He ceased those roles upon Mr. Schriesheim's appointment.
04—Continue