TITAN INTERNATIONAL, INC. (NYSE:TWI) 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 April 16, 2018, Titan International, Inc. (the “Company”) provided written notice to James M. Froisland, the Company’s Chief Financial Officer and Chief Information Officer, that the Company will not renew the Employment Agreement, dated as of December 5, 2016 between the Company and Mr. Froisland (the “Agreement”) upon the expiration of the initial term of the Agreement on December 5, 2018. to the terms of the Agreement, the Agreement was scheduled to renew automatically unless Mr. Froisland or the Company provided a notice of non-renewal at least six months prior to its expiration or otherwise terminated the Agreement in accordance with its terms. A search for Mr. Froisland’s replacement is in process and the Company anticipates a replacement will be in place within the next several months.
The Company issued a press release announcing the events described in this Item 5.02 on April 16, 2018. A copy of the press release is attached hereto as Exhibit 99.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99Titan International Inc.’s press release dated April 16, 2018.
TITAN INTERNATIONAL INC ExhibitEX-99 2 a041618pressreleaseex99.htm EXHIBIT 99 Exhibit Exhibit 99 Titan International,…To view the full exhibit click here
About TITAN INTERNATIONAL, INC. (NYSE:TWI)
Titan International, Inc. is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment. The Company’s earthmoving/construction market includes rims, wheels, tires and undercarriage systems and components for various types of off-the-road (OTR) earthmoving, mining, military and construction equipment. The Company’s consumer market includes bias truck tires in Latin America and light truck tires in Russia, as well as products for all-terrain vehicles (ATVs).