Winnebago Industries, Inc. (NYSE:WGO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS
announced that effective May 15, 2017, Bryan Hughes was appointed
as the Vice President and Chief Financial Officer of the Company.
Mr. Hughes joins Winnebago Industries from Ecolab, Inc. (NYSE:
ECL) in St. Paul, Minnesota, where he most recently served as
Senior Vice President and Corporate Controller beginning in 2014.
Mr. Hughes, 48, joined Ecolab in 1996, after serving as a senior
auditor at Ernst Young, and held various management positions in
Finance, including Vice President of Finance from 2008 to 2014,
financial planning and analysis, and internal audit, over the
course of his career with Ecolab. Mr. Hughes received a Bachelors
degree in Business and Accounting from Concordia College and a
Masters degree in Business Administration from the University of
Michigan. Mr. Hughes will be based at the Companys Eden Prairie,
MN office and he will report directly to CEO and President,
Michael J. Happe.
and any other persons to which he was appointed as the Company’s
Executive Vice President and Chief Financial Officer. There is no
family relationship between Mr. Hughes and any director,
executive officer, or person nominated or chosen by the Company
to become a director or executive officer of the Company. The
Company has not entered into any transactions with Mr. Hughes
that would require disclosure to Item 404(a) of Regulation S-K
under the Exchange Act.
compensation will include:
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Annual base salary of $450,000
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Signing bonus of $150,000
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Stock grant upon the commencement of his employment of 10,000
shares worth on the date of the grant with 1/3 vesting each year over three years, subject to the terms and conditions of the Companys 2014 Omnibus Equity, Performance Award, and Incentive Compensation Plan |
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Participation in executive managements annual bonus plan with
a target of 60% of base salary, with a maximum of 120% of base salary |
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Participation in executive managements long term incentive
compensation plans with a target of 50% of base salary |
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Participation in annual stock awards with a target of 50% of
base salary |
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The ability to enter into a standard change of control
agreement once he has joined the Company, a copy of which will be filed at the time. |
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Other benefits normally afforded to other executives.
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the current Vice President and CFO, will remain with the Company
in Forest City, IA to provide for a smooth transition.
appointment is furnished as Exhibit 99.1 to this Current Report
on Form 8-K and shall not be deemed filed for purposes of Section
18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that Section.
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Exhibit Number
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Description
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99.1
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Press Release Issued by Winnebago Industries, Inc. on
April 3, 2017 |
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About Winnebago Industries, Inc. (NYSE:WGO)
Winnebago Industries, Inc. is a manufacturer of recreation vehicles (RVs) used primarily in leisure travel and outdoor recreation activities. The Company designs, develops, manufactures and markets motorized and towable recreation products along with supporting products and services. Its other products manufactured by the Company consist of original equipment manufacturer (OEM) parts, including extruded aluminum and other component products for other manufacturers and commercial vehicles. The Company offers products under categories, which include motorhomes, towables and other manufactured products. The Company produces all of its motorhomes in vertically integrated manufacturing facilities in Iowa and it produces all travel trailer and fifth wheel trailers in Indiana. The Company operates under the brand, Winnebago. The Company distributes its products primarily through independent dealers throughout the United States and Canada, who then retail the products to the end consumer. Winnebago Industries, Inc. (NYSE:WGO) Recent Trading Information
Winnebago Industries, Inc. (NYSE:WGO) closed its last trading session down -0.90 at 28.35 with 311,206 shares trading hands.