8-KLeadership Changes

TE Connectivity plc 8-K Report, Executive Changes (Jan 14, 2009)

Filed January 14, 2009For Securities:TEL

Summary

This Form 8-K filing by TE Connectivity plc (formerly Tyco Electronics Ltd.) on January 13, 2009, primarily announces a change in its Board of Directors, specifically the resignation of Sandra S. Wijnberg. Ms. Wijnberg is stepping down from the Board effective January 31, 2009, and will also relinquish her role as Chair of the Audit Committee on January 14, 2009. These changes are effective in early 2009, amidst the broader economic climate. Investors should note the transition in the Audit Committee leadership. Lawrence S. Smith, an existing member and designated "Audit Committee Financial Expert," will assume the Chairmanship of the Audit Committee. Additionally, Paula A. Sneed has been appointed as a new member of the Audit Committee, and John C. Van Scoter will replace Ms. Sneed on the Nominating, Governance and Compliance Committee. These appointments aim to ensure continuity and expertise in key board functions.

Key Highlights

  • 1Sandra S. Wijnberg is resigning from the TE Connectivity Board of Directors, effective January 31, 2009.
  • 2Ms. Wijnberg will also step down as Chair of the Audit Committee, effective January 14, 2009.
  • 3Lawrence S. Smith, a current Audit Committee member and "Audit Committee Financial Expert," will become the new Chair of the Audit Committee.
  • 4Paula A. Sneed has been appointed as a new member of the Audit Committee.
  • 5John C. Van Scoter has been appointed as a member of the Nominating, Governance and Compliance Committee, replacing Ms. Sneed in that role.
  • 6The filing is a standard 8-K reporting changes in directors and officers.

Frequently Asked Questions

The filing states that Ms. Wijnberg notified the Company that she is resigning and will not stand for re-election to the Board. The specific reasons for her resignation are not detailed in this 8-K filing.

Lawrence S. Smith is an "Audit Committee Financial Expert" as defined by the SEC. His appointment as Chair suggests a focus on maintaining strong financial oversight and compliance, particularly important during uncertain economic times. This transition aims to ensure continuity in the critical role of the Audit Committee.

This 8-K filing does not provide any information suggesting that the director changes are related to negative performance or investigations. It appears to be a routine board transition, with Ms. Wijnberg not standing for re-election.

The filing indicates that the registrant's former name was Tyco Electronics Ltd.