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 May 2, 2018, the Company’s Board of Directors designated Amy S. Evans, age 55, who is the Company’s Vice President, Chief Accounting Officer, as the Company’s Interim Chief Financial Officer. In such capacity, Ms. Evans assumed the additional roles of the Company’s principal financial officer and principal accounting officer. During this interim period, Ms. Evans will report directly to the Company’s President and Chief Executive Officer, Paul G. Reitz.
Prior to joining Titan in March 2018, Ms. Evans served as an advisor to the Executive Leadership team at Stericycle Inc., a waste management company, from November 2017 to February 2018, interim Senior Vice President and Chief Accounting Officer at R.R. Donnelley & Sons Company, a commercial printing company, from August 2017 to November 2017 and VP, Corporate Controller of Impellam North America, a professional services company, from January 2017 to March 2017. From 2014 to 2016, Ms. Evans was Controller at Navigant Consulting Inc., an advisory, consulting and outsourcing services company, and, from 2010 to 2014, was Assistant Corporate Controller at Opportunity International Inc., a non-profit organization. Ms. Evans started her career as an auditor at Price Waterhouse and then held positions of increasing responsibility at Sara Lee from 1987 – 1998, Corporate Controller at Eby-Brown Company LLC from 1998-2000, followed by progressive director level accounting and reporting positions at HSBC Finance Corporation and R.R. Donnelley & Sons Company. Ms. Evans holds a B.S. in Accounting from the University of Illinois at Urbana-Champaign and is a Certified Public Accountant.
There are no arrangements or understandings between Ms. Evans and any other person to which she was named as the Interim Chief Financial Officer. There are also no family relationships between Ms. Evans and any director or executive officer of the Company and she does not have any direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
As previously disclosed, on April 16, 2018, the Company provided 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 upon the expiration of the initial term of the Agreement on December 5, 2018. On May 2, 2018, Mr. Froisland separated from the Company. As previously disclosed, a search for a permanent Chief Financial Officer is in process and the Company anticipates a replacement will be in place within the next several months.
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).