ASTEC INDUSTRIES: Cochran Retires, Flannery Appointed to Board
Ticker: ASTE · Form: 8-K · Filed: Jan 22, 2024 · CIK: 792987
| Field | Detail |
|---|---|
| Company | Astec Industries Inc (ASTE) |
| Form Type | 8-K |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $3 b, $1.5 billion |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: board-change, director-retirement, director-appointment
TL;DR
**Astec Industries' board just got a new member, Matthew J. Flannery, as William B. Cochran, Jr. retired.**
AI Summary
On January 18, 2024, Astec Industries, Inc. announced that Mr. William B. Cochran, Jr. retired from its Board of Directors. Concurrently, the company appointed Mr. Matthew J. Flannery to the Board, effective the same date. This matters to investors because changes in board composition can signal shifts in company strategy or governance, with new directors like Mr. Flannery potentially bringing fresh perspectives and expertise to guide the company's future.
Why It Matters
Board changes can influence company direction and oversight, potentially impacting long-term performance and shareholder value. Mr. Flannery's appointment could bring new strategic insights to Astec Industries.
Risk Assessment
Risk Level: low — This filing reports a routine change in board composition, which typically carries minimal direct risk to investors.
Analyst Insight
A smart investor would monitor future company announcements for any strategic shifts or new initiatives that might be influenced by the new board member, Matthew J. Flannery.
Key Players & Entities
- Astec Industries, Inc. (company) — the registrant
- William B. Cochran, Jr. (person) — retiring Director
- Matthew J. Flannery (person) — newly appointed Director
- January 18, 2024 (date) — date of earliest event reported
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was January 18, 2024, which is the date Mr. William B. Cochran, Jr. retired and Mr. Matthew J. Flannery was appointed to the Board of Directors.
Who retired from Astec Industries, Inc.'s Board of Directors?
Mr. William B. Cochran, Jr. retired from Astec Industries, Inc.'s Board of Directors on January 18, 2024.
Who was appointed to Astec Industries, Inc.'s Board of Directors?
Mr. Matthew J. Flannery was appointed to Astec Industries, Inc.'s Board of Directors, effective January 18, 2024.
What is the trading symbol for Astec Industries, Inc.?
The trading symbol for Astec Industries, Inc. is ASTE, and its common stock is registered on The Nasdaq Stock Market LLC.
What is the business address of Astec Industries, Inc.?
The business address of Astec Industries, Inc. is 1725 Shepherd Road, Chattanooga, Tennessee 37421.
Filing Stats: 884 words · 4 min read · ~3 pages · Grade level 9.6 · Accepted 2024-01-22 07:01:12
Key Financial Figures
- $3 b — tions with annual revenues in excess of $3 billion, following its spinoff from Inger
- $1.5 billion — doors with annual revenues in excess of $1.5 billion. He has been at PGT since 2005 and has
Filing Documents
- aste-20240118.htm (8-K) — 25KB
- astecpressrelease-director.htm (EX-99.1) — 8KB
- aste-20240118_g1.jpg (GRAPHIC) — 30KB
- asteclogo3a.jpg (GRAPHIC) — 43KB
- 0000792987-24-000003.txt ( ) — 268KB
- aste-20240118.xsd (EX-101.SCH) — 2KB
- aste-20240118_lab.xml (EX-101.LAB) — 24KB
- aste-20240118_pre.xml (EX-101.PRE) — 12KB
- aste-20240118_htm.xml (XML) — 3KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits 99.1 Press Release of Astec Industries, Inc. issued January 22, 2024 104 Cover Page Interactive Data File embedded within the Inline XBRL document
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Astec Industries, Inc. Date: January 22, 2024 By: /s/ Jaco van der Merwe Jaco van der Merwe President and Chief Executive Officer