LOUISIANA-PACIFIC CORPORATION (NYSE:LPX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 14, 2019, Louisiana-Pacific Corporation (the “Company”) announced that, effective such date, Alan J. M. Haughie had been appointed Executive Vice President and Chief Financial Officer of the Company. Mr. Haughie succeeds Mike Kinney, who served as the Company’s interim Chief Financial Officer since July 2018.
Mr. Haughie, age 55, previously served as the senior vice president and chief financial officer of ServiceMaster Global Holdings, Inc., a leading provider of essential residential and commercial services, from September 2013 until February 2017, and as an employee of ServiceMaster until his retirement in March 2017. From July 2010 until September 2013, Mr. Haughie served as senior vice president and chief financial officer of Federal-Mogul Corporation, a global supplier of original equipment and aftermarket products for automotive, light commercial, heavy-duty and off-highway vehicles, as well as power generation, aerospace, marine, rail and industrial equipment. From 2005 until June 2010, Mr. Haughie served as vice president, controller and chief accounting officer of Federal-Mogul, having joined Federal-Mogul in 1994.
In connection with his appointment, the Compensation Committee of the Company’s Board of Directors approved Mr. Haughie’s annual base salary of $550,000. Mr. Haughie will be entitled to participate in the Company’s Management Incentive Plan, with an annual cash bonus target opportunity level of 75 percent of his annual base salary and with the actual payout ranging from 0 to 200 percent, and with an annual equity target opportunity of $800,000. In addition, Mr. Haughie will be eligible to participate in all other employee benefit plans and compensation programs that the Company maintains for its salaried employees and executive officers. The Company expects to enter into a change of control agreement with Mr. Haughie on terms generally consistent with the change of control agreements the Company has entered into with its other executive officers.
Item 7.01Regulation FD Disclosure.
A press release regarding the CFO succession is attached hereto as Exhibit 99.1, which is incorporated in this Item 7.01 by reference.
The information in Item 7.01 of this Current Report on Form 8-K shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Act of 1933, or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such a filing.
Item 7.01Financial Statements and Exhibits.
LOUISIANA-PACIFIC CORP Exhibit
EX-99.1 2 pressrelease.htm EXHIBIT 99.1 – PRESS RELEASE Exhibit NEWS RELEASERelease No. 101-01-19Contact:Mark Morrison (Media Relations)615.986.5886Becky Barckley/Mike Kinney (Investor Relations)615.986.5600FOR RELEASE AT 6:55 A.M. (EST) MONDAY,…
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About LOUISIANA-PACIFIC CORPORATION (NYSE:LPX)
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America. The OSB segment includes OSB products produced in North America. The siding segment includes Smart Side siding products, CanExel siding products and other related products. The engineered wood products segment includes laminated veneer lumber and laminated strand lumber, I-joists, plywood and other related products. The South America segment includes products produced and or sold in South America. Its other products category includes its remaining timber and timberlands, and other minor products, services and closed operations. It also markets and sells its products in light industrial and commercial construction.