EDGEWELL PERSONAL CARE COMPANY (NYSE:EPC) 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.
Personal Care Company (the Company) announced the appointment of
Colin Hutchison as Chief Operating Officer of the Company,
effective as of April 4, 2017.
as the Companys Vice President Commercial, International since
July 1, 2015. From January 2011 to July 1, 2015, Mr. Hutchison
served as Vice President and General Manager of the Companys
Private Brands Group. Prior to that, he served as Vice President
for Schick-Wilkinson Sword and Personal Care in Europe from 2004
to 2010. Prior to joining the Company, Mr. Hutchison held various
positions at consumer goods businesses based in Europe including
United Biscuits and the Campbells Soup Company.
Hutchisons base annual salary will be $555,000. Mr. Hutchison
will participate in a cash bonus program for the period from the
effective date of his appointment to the conclusion of the
Companys 2017 fiscal year with a bonus target of 75% of his pro
rata base salary for such period. The bonus plan payout is based
on the achievement by the Company during its fiscal 2017 year of
certain previously announced performance targets as described in
the Companys Current Report on Form 8-K filed on November 9, 2016
under FY 2017 Executive Bonus Plan, which description is
incorporated by reference herein. Payout under the bonus program
will range from 35% of bonus target if threshold performance is
achieved, to 50% at target performance and a maximum of 200% at
stretch performance. Payment is subject to discretionary
reduction by the Nominating and Executive Compensation Committee
of the Companys Board of Directors (the Committee). Any
performance bonus for Mr. Hutchison under this plan will be paid
by the Company in November 2017, subject to the terms of the
bonus plan, and subject to (a) the determination by the Committee
that performance objectives were met; and (b) Mr. Hutchison
remaining employed by the Company on such date.
relocation and other expenses not to exceed in the aggregate
$199,060.
time of long-term incentive awards under the Companys Second
Amended and Restated 2009 Incentive Stock Plan, subject to
approval by the Committee. Mr. Hutchison will also be eligible to
participate in all other compensation and benefit programs
generally available to the Companys executive officers, including
the Companys Executive Severance Plan (with a multiple of 1.5 of
base salary and severance bonus and 1.5 times the monthly group
health plan premium cost multiplied by 18), supplemental
retirement plans, a financial planning program and term life
insurance premiums. The Company also expects to enter into a
change of control agreement with Mr. Hutchison on terms
substantially similar to those of its other executive officers.
Companys Proxy Statement on Schedule 14A, filed with the
Securities and Exchange Commission on December 14, 2016, under
the heading Executive Compensation and is incorporated herein by
reference.
transactions required to be disclosed to Item 404(a) of
Regulation S-K, and there are no family relationships involving
Mr. Hutchison required to be disclosed to Item 401(d) of
Regulation S-K.
Robertson from his role as the Companys Chief Marketing Officer
effective July 31, 2017.
Mr. Hutchisons appointment. A copy of the press release is
attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
being furnished to Item 7.01 of Form 8-K and shall not be deemed
to be filed for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the Exchange Act), or otherwise subject
to the liabilities of that section. The information contained in
the press release shall not be incorporated by reference into any
filing under the Securities Act of 1933, as amended, or the
Exchange Act, whether made before or after the date hereof,
except as shall be expressly set forth by specific reference in
such a filing.
|
Exhibit No.
|
Description
|
|
99.1
|
Press Release dated April 4, 2017.
|
About EDGEWELL PERSONAL CARE COMPANY (NYSE:EPC)
Edgewell Personal Care Company is a manufacturer and marketer of personal care products in the wet shave, sun and skin care, feminine care and infant care categories. As of September 30, 2016, the Company had a portfolio of over 25 brands. It manages its business in four segments: Wet Shave, Sun and Skin Care, Feminine Care and All Other. Its Wet shave products are sold under the Schick, Wilkinson Sword, Edge, Skintimate, Shave Guard and Personna brand names. Its Sun and Skin Care products are sold under the Banana Boat, Hawaiian Tropic, Wet Ones and Playtex brand names and offers Wet Ones, portable hand wipes category, and Playtex household gloves, the branded household glove in the United States. Its Feminine Care segment markets its products under the Playtex, Stayfree, Carefree and o.b. brands and markets pads and liners. Its All Other segment includes infant care, pet care and miscellaneous other products. EDGEWELL PERSONAL CARE COMPANY (NYSE:EPC) Recent Trading Information
EDGEWELL PERSONAL CARE COMPANY (NYSE:EPC) closed its last trading session up +0.29 at 72.99 with 483,352 shares trading hands.
