KEMET Corporation (NYSE:KEM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

KEMET Corporation (NYSE:KEM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02

DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On November 29, 2018, KEMET Corporation (the “Company”), received notice from Mr. William Lowe, the Company’s Executive Vice President and Chief Financial Officer, that he will retire on May 31, 2019. Mr. Lowe’s decision did not result from a disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr. Lowe will continue to serve in his current position until his retirement date, at which time his employment will end.

The Company hired Mr. Gregory Thompson as Mr. Lowe’s eventual successor. Mr. Thompson began his employment at the Company on December 1, 2018 as Executive Vice President – Finance. In May 2019, he will assume the role of Executive Vice President and Chief Financial Officer.

Gregory C. Thompson, age 63, served as Executive Vice President of Axiall Corporation, a Delaware corporation, from July 2015 until October 2016 and Chief Financial Officer from February 2008 until October 2016. Before beginning at Axiall in 2008, Mr. Thompson served as the Senior Vice President and Chief Financial Officer of Invacare Corporation, a medical equipment manufacturer. Prior thereto, he served in various financial management positions with Sensormatic Electronics Corporation, Wang Laboratories, Inc. and Price Waterhouse. He is a Certified Public Accountant and is a Member of the American Institute of Certified Public Accountants. He holds a Bachelor of Science degree in Accounting from Virginia Polytechnic Institute and State University.

Mr. Thompson will receive a base salary of $575,000. On December 1, the effective date of Mr. Thompson’s employment, he received 100,000 restricted stock units. Mr. Thompson is also eligible to participate in the performance incentive programs and benefit plans the Company offers its other executives. For more information on the compensation of the Company’s executives, please refer to the disclosure under the heading “Compensation Discussion and Analysis” in the Company’s Proxy Statement for its Annual Meeting of Stockholders held on July 25, 2018 (filed with the Securities and Exchange Commission on June 13, 2018).

In addition, the Company and Mr. Thompson entered into a Change in Control and Severance Compensation Agreement, substantially in the form of Exhibit 10.15 to the Company’s Form 10-K for the fiscal year ended March 31, 2018, with a 24 month benefit period.

A copy of the press release announcing the retirement and transition plan for the Company’s Chief Financial Officer is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.

ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

KEMET CORP ExhibitEX-99.1 2 fy2019_q3xex991xretirement.htm EXHIBIT 99.1 Exhibit News ReleaseExhibit 99.1  FOR IMMEDIATE RELEASE Contact:Robin Blackwell,…To view the full exhibit click here
About KEMET Corporation (NYSE:KEM)
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors. The Film and Electrolytic Business Group produces film, paper and wet aluminum electrolytic capacitors. It also designs and produces EMI Filters. The Company’s product offerings include surface mount, which are attached directly to the circuit board; leaded capacitors, which are attached to the circuit board using lead wires, and chassis-mount and other pin-through-hole board-mount capacitors, which utilize attachment methods, such as screw terminal and snap-in. The Company sells its products to a range of original equipment manufacturers (OEMs) and electronics manufacturing services (EMS) providers.