ARC Group Worldwide,Inc. (NASDAQ:ARCW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Appointment of Drew M. Kelley as Interim Chief Executive Officer
and Member of the Board of Directors
On June 21, 2017, the Board of Directors (the Board) of ARC Group
Worldwide, Inc. (the Company) appointed Mr. Drew M. Kelley as
Interim Chief Executive Officer and as a member of the Board of
the Company, effective July 1, 2017.Mr. Kelley will remain as the
Companys Chief Financial Officer, a position he has held since
October 13, 2013.Prior to joining the Company, Mr. Kelley was a
Senior Vice President at Jefferies LLC (Jefferies) and its
predecessor, Jefferies Group, Inc.Mr. Kelley was employed by
Jefferies (a brokerage, investment advisory, and corporate
services company) from 2008 to 2013 where he held various
positions in the investment banking group, executing corporate
finance, strategic advisory, restructuring, mergers and
acquisitions, equity and debt transactions for corporate
clients.Prior to Jefferies, Mr. Kelley held investment banking
and equity research positions at Bear, Stearns Co. Inc. from 2002
to 2008.Mr. Kelley holds a BA in Business Economics with a Minor
in Accounting from UCLA.
Mr. Kelley does not currently have a written compensation
agreement with the Company or any of its subsidiaries.The
Compensation Committee of the Board has adjusted Mr. Kelleys base
salary to $340,000 per annum.
Resignation of Mr. Jason T. Young as Chief Executive Officerand
Member of the Board of Directors
Effective June 30, 2017, Mr. Jason T. Young has resigned as Chief
Executive Officer of the Company and as a member of the Board.Mr.
Young has not expressed any disagreement with the Company on any
matter relating to the Companys operations, policies, or
practices with regard to the cessation of his services as Chief
Executive Officer and as a member of the Board.
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Item. 9.01 |
Exhibits |
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(d) |
The following exhibits are filed with this report: |
Exhibit NumberDescription
99.1 Press Release dated June 23, 2017
ARC Group Worldwide, Inc. ExhibitEX-99 2 arcw-20170623xex99.htm EX-99 Ex 99-1 Press Release Rust OfficerFolio 1 Exhibit 99.1 FOR IMMEDIATE RELEASE DATE: June 23,…To view the full exhibit click here About ARC Group Worldwide, Inc. (NASDAQ:ARCW)
ARC Group Worldwide, Inc. is a manufacturing company. The Company has four segments: Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless Group. It provides a set of manufacturing solutions, from design and prototyping through production. Through the Company’s product offering, it provides its customers with a prototyping and production solution for both precision metal and plastic fabrication. The Precision Components Group companies provide fabricated metal components using processes, consisting of metal injection molding, precision metal stamping and hermetic sealing. The 3DMT Group focuses on rapid prototyping, short-run production and rapid tooling. The Flange and Fittings Group consists of General Flange and Forge. The Wireless Group focuses on wireless broadband technology related to propagation and optimization. The Wireless Group designs and develops hardware, including antennas, radios and related accessories. ARC Group Worldwide, Inc. (NASDAQ:ARCW) Recent Trading Information
ARC Group Worldwide, Inc. (NASDAQ:ARCW) closed its last trading session down -0.14 at 3.41 with 12,596 shares trading hands.