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

ME Staff 8-k
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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.

Resignation of Drew M. Kelley as Chief Financial Officer

Effective November 27, 2017, Drew M. Kelley, interim Chief Executive Officer,has resigned as Chief Financial Officer of the Company.Drew M. Kelley will continue to serve as interim Chief Executive Officer of the Company.

Appointment of R. Brian Knaley as Chief Financial Officer

Effective as of November 27, 2017, the Company has appointed Mr. R. Brian Knaley as Chief Financial Officer. Prior to joining the Company, Mr. Knaley was a Vice President and Corporate Controller at Spectranetics Corporation, a developer and manufacturer of single-use medical devices, from June 2016 to November 2017. Prior to Spectranetics Corporation, Mr. Knaley was a Corporate Controller at Arcelormittal USA, a steel and mining company, from May 2012 to June 2016. Prior to Arcelormittal USA, Mr. Knaley was a Vice President of Finance at Caterpillar Tunneling from September 2007 to May 2012.Mr. Knaley holds a BA in Accounting from Thomas More College and a CPA license in the State of Ohio.

On November 28, 2017, ARC entered into an indemnification agreement (the “Indemnification Agreement”) with Mr.Knaley (the “Indemnitee”) in connection with Mr.Knaley’s appointment as Chief Executive Officer. The Indemnification Agreement is substantially identical to the indemnification agreement entered into by the Company with its other directors and officers, and provides that the Company will indemnify the Indemnitee, to the fullest extent permitted by Utah law and the Company’s charter and subject to the limitations set forth in the Indemnification Agreement, from and against all judgments, fines, penalties, and amounts paid in settlements.

There are no family relationships between Mr.Knaley and any of the Company’s other directors or officers.

Mr. Knaley does not currently have a written compensation agreement with the Company or any of its subsidiaries. The Company and Mr. Knaley have agreed that Mr. Knaley will be paid $240,000 per annum.

(d)

The following exhibits are filed with this report:

Exhibit NumberDescription

99.1 Press Release dated November 30, 2017


ARC Group Worldwide, Inc. Exhibit
EX-99.1 2 arcw-20171130ex9913aa0c0.htm EX-99.1 Ex 99-1 Press Release Officers   EXHIBIT 99.1   FOR IMMEDIATE RELEASE  DATE: November 30,…
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.