GP Strategies Corporation (NYSE:GPX) 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.
Relinquishment of Position as Chief Executive Officer
Effective June 9, 2020, the Board of Directors of GP Strategies Corporation (the “Company”) and Scott N. Greenberg agreed that he will assume a new role as Senior Advisor to the Company while continuing in his position as Chairman of the Board.
Mr. Greenberg’s duties and compensation for serving as Chairman of the Board and Senior Advisor have not been finalized as of the date of this filing and will be provided in an amendment to this Form 8-K when finalized.
Appointment of Interim Chief Executive Officer and Election of New Director
The Board appointed Adam H. Stedham, the President of the Company, as the interim Chief Executive Officer of the Company, effective June 9, 2020. In addition, the Board voted to increase the size of the Board to eight and elected Mr. Stedham to the Board of Directors of the Company, effective June 9, 2020. Mr. Stedham will continue to serve as the Company\’s President, which he has done since November 2017. For more information, see Mr. Stedham’s biographical information reported in the Company’s Form 10-K/A filed with the SEC on April 29, 2020, which can be found at https://www.sec.gov/Archives/edgar/data/70415/000007041520000073/a10-ka123119.htm.
Additionally, there are no family relationships, as defined in Item 401 of Regulation S-K, between Mr. Stedham and any of the Company’s executive officers or directors. There is no arrangement or understanding between Mr. Stedham and any other person to which Mr. Stedham was appointed as Interim CEO of the Company. There are no transactions in which Mr. Stedham has an interest requiring disclosure under Item 404(a) of Regulation S-K.
On June 15, 2020, the Company issued a press release announcing Mr. Greenberg’s transitioning from his role and Mr. Stedham’s appointment as Interim CEO and election as a director. The press release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
GP STRATEGIES CORP Exhibit
EX-99.1 2 a991pressreleasejune152020.htm EXHIBIT 99.1 Exhibit Exhibit 99.1NEWS RELEASE GP Strategies Announces Leadership Changes Scott Greenberg to Step Down from CEO Role,…
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