KAISER ALUMINUM CORPORATION (NASDAQ:KALU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 9.01. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements with Certain Officers.
Rinkenberger Retirement
As previously disclosed by Kaiser Aluminum Corporation (the “Company”), Daniel J. Rinkenberger retired as the Company’s Executive Vice President and Chief Financial Officer effective February 22, 2019 and will remain employed by the Company as an advisor to the Company through his planned retirement on March 31, 2019. In connection with Mr. Rinkenberger’s retirement, Mr. Rinkenberger and the Company entered into a Separation Agreement and General Release (the “Agreement”).
to the Agreement, in addition to payments and benefits Mr. Rinkenberger is entitled to receive under the Company’s various benefits and incentive plans, Mr. Rinkenberger will receive a lump sum payment of $500,000 within seven days of the effective date of the Agreement. Mr. Rinkenberger also provided customary broad form releases and other confidentiality covenants to the Company in connection with his retirement. In addition, under the Agreement, Mr. Rinkenberger agreed to serve as a consultant to the Company for a period of 12 months at a rate of $25,000 per month to facilitate the transition.
The foregoing description of the Agreement is only a summary and is qualified in its entirety by the Agreement, which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.
Barneson Retirement
On February 26, 2019, John Barneson, Senior Vice President – Corporate Development of the Company, confirmed that he was retiring from the Company and resigned as an officer of the Company, both effective as of February 28, 2019.
Item 9.01. Financial Statements and Exhibits.
KAISER ALUMINUM CORP Exhibit
EX-10.1 2 separationagreement.htm SEPARATION AGREEMENT AND GENERAL RELEASE Exhibit Exhibit 10.1SEPARATION AGREEMENT AND GENERAL RELEASEThis Separation Agreement and General Release (this “Agreement”) effective as of the Effective Date (as defined below),…
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About KAISER ALUMINUM CORPORATION (NASDAQ:KALU)
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications. It operates in the Fabricated Products segment. The Company’s Fabricated Products segment produces rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications. The Company operates over 10 focused production facilities in the United States and one in Canada. The Company serves end market applications, such as aerospace and high strength products (Aero/HS products), extrusions for automotive applications (Automotive Extrusions), general engineering products (GE products) and other industrial products (Other products).
