8-KLeadership Changes

TE Connectivity plc 8-K Report, Executive Changes (Feb 16, 2016)

Filed February 16, 2016For Securities:TEL

Summary

This 8-K filing from TE Connectivity plc (TEL) on February 16, 2016, primarily announces a key executive change. Robert W. Hau, the Executive Vice President and Chief Financial Officer (CFO), is resigning effective March 4, 2016. The company has begun a search for a permanent successor, considering both internal and external candidates. In the interim, the Board of Directors has appointed Mario Calastri, currently Senior Vice President and Treasurer, as the acting CFO. Mr. Calastri will retain his Treasurer responsibilities during this transitional period. The filing provides a brief background on Mr. Calastri's extensive financial experience, including his tenure with the company since its separation from Tyco International and prior roles at IBM.

Key Highlights

  • 1Robert W. Hau, EVP and CFO, will resign from TE Connectivity effective March 4, 2016.
  • 2The company has initiated a search for a new Chief Financial Officer, evaluating internal and external candidates.
  • 3Mario Calastri, Senior Vice President and Treasurer, has been appointed as acting CFO.
  • 4Mr. Calastri will continue to serve as Treasurer during his interim role as CFO.
  • 5The appointment of Mr. Calastri as acting CFO is effective February 10, 2016.
  • 6Mr. Calastri has significant financial experience, including roles at TE Connectivity and IBM.

Frequently Asked Questions

Mario Calastri, Senior Vice President and Treasurer, has been appointed as the acting Chief Financial Officer on an interim basis. The company is conducting a search for a permanent successor.

Robert W. Hau's resignation is effective as of March 4, 2016.

Yes, Mr. Calastri will continue in his role as Treasurer of the Company during this interim period.

TE Connectivity has initiated a process to evaluate both internal and external candidates for the Chief Financial Officer position.