TENNECO INC. (NYSE:TEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On May18, 2018, Tenneco Inc. announced that Kenneth R. Trammell is retiring as Chief Financial Officer effective July1, 2018. Mr.Trammell will continue to be employed as Executive Vice President to aid in transition and in preparation for the acquisition of Federal-Mogul LLC. On May16, 2018, the company appointed Jason M. Hollar as Executive Vice President and Chief Financial Officer, effective July1, 2018. Mr.Hollar, 45, has been the company’s Senior Vice President, Finance since June 2017. Prior to joining Tenneco Inc., Mr.Hollar was employed by Sears Holdings Corporation, where he was Chief Financial Officer from October 2016 to April 2017 and Senior Vice President, Finance from October 2014 to September 2016. Prior to Sears, Mr.Hollar worked with Delphi Automotive PLC, where he served from December 2013 to September 2014 as Vice President and Corporate Controller and from April 2011 to November 2013 as CFO, Powertrain Systems and Delphi, Europe, Middle East and Africa.
In connection with his appointment as Chief Financial Officer, Mr.Hollar’s base salary was increased to $610,000 effective June1, 2018.Also effective on June1, 2018, the target for Mr.Hollar’s annual incentive compensation will increase to $488,000. In addition, on June1, 2018 Mr.Hollar will receive an award of restricted stock units with a value of $260,000 that vest in equal installments over the three years from the date of grant and an award of performance share units with a value of $390,000 in respect of the 2018-2020 performance period.
On May16, 2018, Tenneco Inc. appointed Audrey A. Smith to become the company’s principal accounting officer effective May16, 2018. Ms.Smith, 43, will have global responsibility for the company’s corporate accounting and financial reporting. Ms.Smith joined the company on April16, 2018 as Vice President and Controller from US Foods Inc., where she was Senior Director of enterprise consolidation and reporting from March 2016 to April 2018.Prior to US Foods, Ms.Smith spent nearly a decade at Navistar Inc., where she held the positions of Controller, truck segment and Assistant Corporate Controller.She has also held Controller and finance roles with Follett Corporation and spent more than seven years at the public accounting firm of Deloitte& Touche.
Upon Ms. Smith’s appointment as principal accounting officer, Paul D. Novas ceased to be the company’s interim principal accounting officer, but he will continue as our Vice President, Finance.
| Item 5.02 | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits
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ExhibitNo. |
Description |
| 99.1 | Press release dated May18, 2018 |
TENNECO INC ExhibitEX-99.1 2 d591797dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 TENNECO NAMES JASON HOLLAR CHIEF FINANCIAL OFFICER Lake Forest,…To view the full exhibit click here
About TENNECO INC. (NYSE:TEN)
Tenneco Inc. (Tenneco) is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company operates in six segments: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air, and Asia Pacific Ride Performance. Its various brands include Monroe, Rancho, Clevite Elastomers, Axios, Kinetic, Fric-Rot, Walker, XNOx, Fonos, DynoMax and Thrush clean air products. It designs, manufactures and distributes various products and systems designed to reduce pollution and optimize engine performance, acoustic tuning and weight, including catalytic converters and diesel oxidation catalysts; lean nitrogen oxide (NOx) traps; mufflers and resonators; fabricated exhaust manifolds; pipes; hydroformed assemblies; elastomeric hangers and isolators, and aftertreatment control units.
