01—Abstract
Summary
Summary of the 8-K filed March 25, 2024. Cited figures are marked; the original filing is the authoritative source.
Symbotic Inc. (SYM) filed a Form 8-K under Item 5.02 reporting a leadership change in its finance and accounting function.
On March 19, 2024, the Company appointed Maria G. Freve as Vice President, Controller and Chief Accounting Officer, effective April 15, 2024. Upon that effective date, Ms. Freve will become the Company's principal accounting officer, and Carol Hibbard will step down from that role while remaining Chief Financial Officer, Treasurer and principal financial officer.
Ms. Freve, age 49, most recently served as Vice President and Chief Accounting Officer of Sensata Technologies Holding plc from March 2020 until March 2024. Before that, she spent 11 years in finance and accounting leadership roles at Dell EMC and 13 years at PricewaterhouseCoopers LLP.
She holds a B.S. in Management from Tulane University. In connection with her appointment, and subject to Board approval, Ms. Freve is expected to receive an equity-based award with a grant date value of $600,000,a with terms to be set by the Board at grant.
02—Key points
Key Highlights
- Maria G. Freve appointed Vice President, Controller and Chief Accounting Officer, effective April 15, 2024
- Freve will serve as principal accounting officer upon the effective date
- Carol Hibbard, CFO, will relinquish the principal accounting officer role but remain CFO, Treasurer and principal financial officer
- Freve previously served as VP and Chief Accounting Officer of Sensata Technologies Holding plc (March 2020 to March 2024)
- Freve's prior experience includes 11 years at Dell EMC and 13 years at PricewaterhouseCoopers LLP
- Expected equity award with a grant date value of $600,000, subject to Board approval and terms set at grant
03—Questions
Frequently Asked Questions
Who is the new principal accounting officer at Symbotic?
Maria G. Freve, who will assume the role of principal accounting officer effective April 15, 2024, when she also takes the title of Vice President, Controller and Chief Accounting Officer.
Is Carol Hibbard leaving Symbotic?
No. The filing states that Carol Hibbard will no longer serve as principal accounting officer but will continue as Chief Financial Officer, Treasurer and principal financial officer.
What is Ms. Freve's background?
She was Vice President and Chief Accounting Officer of Sensata Technologies Holding plc from March 2020 until March 2024, held finance and accounting leadership roles at Dell EMC for 11 years, and spent 13 years with PricewaterhouseCoopers LLP. She holds a B.S. in Management from Tulane University.
What compensation will Ms. Freve receive?
She is expected to receive an equity-based award with a grant date value of $600,000, subject to Board of Directors approval, with terms to be determined by the Board at the time of grant.
04—Continue