TransDigm Group Incorporated (NYSE:TDG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 7.01
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
TransDigm Group Incorporated (the “Company”) (NYSE: TDG) today announced that James Skulina, an Executive Vice President of the Company, has been appointed Interim Chief Financial Officer, effective immediately. Mr. Skulina replaces Terrance Paradie, who resigned for personal reasons. Mr. Paradie will remain an employee of the Company until April 2, 2018 and will be available to assist Mr. Skulina during the transition as needed. Mr. Paradie’s departure is unrelated to the Company’s financial condition, financial disclosure or strategic direction. The Company will initiate a search process to identify a permanent Chief Financial Officer. In the interim, Mr. Skulina will serve as the Company’s principal financial officer and principal accounting officer.
Mr. Skulina, age 58, has been with the Company since 1994. For the last six years, Mr. Skulina has been an Executive Vice President responsible for many of TransDigm’s existing businesses and new acquisitions. He has also served the Company in financial roles, including Corporate Controller and Controller for the Company’s AeroControlex business unit, and in other roles, including President of the Company’s Aero Fluid Products business. Mr. Skulina has an MBA from Cleveland State University and Bachelor of Accounting degree from Bowling Green State University.
Mr. Skulina is not a party to any transaction with the Company that would require disclosure under Item 404(a) of Regulation S-K.
Mr. Skulina is a party to a previously filed employment agreement with the Company on terms similar to those of other executive officers of the Company. For calendar year 2018, Mr. Skulina’s annual base salary will be $600,000. In addition, Mr.Skulina’s target incentive, to the Company’s annual cash incentive plan, will be 80% of his base salary.
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Item 7.01 |
Regulation FD Disclosure |
A copy of the January 2, 2018 press release announcing the foregoing is attached as Exhibit99.1.
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Item 7.01 |
Financial Statements and Exhibits. |
(d) Exhibits
The following exhibit is being filed with this Current Report on Form 8-K:
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99.1 |
Press Release dated January 2, 2018. |
TransDigm Group INC ExhibitEX-99.1 2 ex991appointinginterimcfo.htm EXHIBIT 99.1 Exhibit Exhibit 99.1TransDigm Group Incorporated Appoints James Skulina Interim CFOCLEVELAND,…To view the full exhibit click here
About TransDigm Group Incorporated (NYSE:TDG)
TransDigm Group Incorporated is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft in service. The Company operates through three segments: Power & Control, Airframe and Non-aviation. The Power & Control segment includes operations that primarily develop, produce and market systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies. The Airframe segment includes operations that primarily develop and market systems and components that are used in non-power airframe applications utilizing airframe and cabin structure technologies. The Non-aviation segment includes operations that primarily develop, produce and market products for non-aviation markets. Its product offerings include mechanical/electro-mechanical actuators and controls, engineered latching and locking devices, and seat belts and safety restraints.
