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
Item 5.02
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
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(a)
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Not Applicable
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(b)
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Not Applicable
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(c)
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Not Applicable
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(d)
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On June 13, 2017, the Board of Directors (the Board) of KEMET
Corporation, a Delaware corporation (the Company), increased the size of the Board to nine members and elected Yasuko Matsumoto to fill the resulting vacancy. Ms. Matsumoto has been placed in the Director Class of 2019. |
Affiliated Company Department, Corporate Strategy Division of NEC
Corporation (NEC). She joined NEC in 1986 and served in a variety
of managerial positions with NEC and its subsidiaries, including
Manager, Corporate Finance Division, of NEC Capital Solutions
Limited. In April 2012 Ms. Matsumoto was appointed Senior Manager,
Affiliate Company Department, Corporate Strategy Division; and in
April 2013 she was named Department Manager, Energy Service
Department, Smart Energy Business Unit prior to her appointment in
February 2014 to her current position. Ms. Matsumoto currently
serves on the board of directors of Nippon Avionics Co., Ltd.
(listed on the Tokyo Stock Exchange), Netcracker Technology
Corporation and NEC Energy Devices, Ltd. Ms. Matsumoto served as a
director of NEC TOKIN Corporation from 2006 until its acquisition
by the Corporation on April 19, 2017. Ms. Matsumoto received a
Bachelor of Economics degree from Sophia University and is a
graduate of the Executive Management Program of the University of
Tokyo. The Corporation’s Board of Directors believes that it
benefits from Ms. Matsumotos financial and mergers and acquisitions
expertise, her experience with the automotive industry and with the
Asian electronics components market, and her experience with, and
access to, the Asian financial market.
independent director, as that term is defined in Item 407(a) of
Regulation S-K. In making that determination the Board has
considered that the Company completed the purchase of the remaining
shares of TOKIN Corporation from NEC Corporation and NEC Capital
Solutions Limited on April 19, 2017.
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Item 9.01
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Financial Statements and Exhibits
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(d)
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Exhibits
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Form 8-K:
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Exhibit No.
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Description
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99.1
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News Release, dated June 14, 2017, issued by the Company.
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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.