Summary
This 8-K filing by TE Connectivity Ltd. (TEL) on March 13, 2017, officially announces a significant leadership transition. Terrence Curtin has been appointed Chief Executive Officer, effective immediately following the company's Annual General Meeting of Shareholders on March 8, 2017. This appointment was a planned succession, with Thomas Lynch transitioning from CEO to Executive Chairman. The filing also details the adjusted base salaries for both executives in their new roles, with Mr. Curtin receiving $1,100,000 and Mr. Lynch receiving $900,000, effective March 9, 2017.
Key Highlights
- 1Terrence Curtin appointed as Chief Executive Officer (CEO).
- 2Appointment effective immediately following the Annual General Meeting of Shareholders on March 8, 2017.
- 3Thomas Lynch transitions from CEO to Executive Chairman.
- 4Mr. Curtin's annual base salary adjusted to $1,100,000.
- 5Mr. Lynch's annual base salary adjusted to $900,000.
- 6Salary adjustments are effective March 9, 2017.