Gorman-Rupp Appoints New CFO, Transitions Long-Time Executive
Ticker: GRC · Form: 8-K · Filed: Apr 30, 2024 · CIK: 42682
| Field | Detail |
|---|---|
| Company | Gorman Rupp CO (GRC) |
| Form Type | 8-K |
| Filed Date | Apr 30, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, cfo-appointment, retirement
TL;DR
Gorman-Rupp names new CFO, Sipos, replacing Schmatz who retires end of year.
AI Summary
On April 25, 2024, The Gorman-Rupp Company announced the appointment of Jeffrey L. Sipos as Chief Financial Officer, effective May 1, 2024. Sipos will succeed current CFO, Douglas J. Schmatz, who will transition to a Senior Advisor role until his retirement on December 31, 2024. Sipos previously served as CFO of The Timken Company.
Why It Matters
This leadership change in a key financial role could signal shifts in the company's financial strategy or operational focus.
Risk Assessment
Risk Level: low — The appointment is a planned succession with a clear transition period, indicating stability.
Key Players & Entities
- Jeffrey L. Sipos (person) — Appointed Chief Financial Officer
- Douglas J. Schmatz (person) — Outgoing Chief Financial Officer, transitioning to Senior Advisor
- The Gorman-Rupp Company (company) — Registrant
- The Timken Company (company) — Previous employer of Jeffrey L. Sipos
- April 25, 2024 (date) — Date of report
- May 1, 2024 (date) — Effective date of new CFO appointment
- December 31, 2024 (date) — Retirement date of Douglas J. Schmatz
FAQ
Who is the new Chief Financial Officer of The Gorman-Rupp Company?
Jeffrey L. Sipos has been appointed as the new Chief Financial Officer, effective May 1, 2024.
When does the new CFO's appointment become effective?
The appointment of Jeffrey L. Sipos as CFO is effective May 1, 2024.
What is the role of Douglas J. Schmatz after the CFO transition?
Douglas J. Schmatz will transition to a Senior Advisor role until his retirement on December 31, 2024.
What was Jeffrey L. Sipos's previous role?
Jeffrey L. Sipos previously served as the Chief Financial Officer of The Timken Company.
What is the exact date of the report?
The date of the report is April 25, 2024.
Filing Stats: 977 words · 4 min read · ~3 pages · Grade level 11 · Accepted 2024-04-30 09:24:33
Filing Documents
- d832120d8k.htm (8-K) — 46KB
- d832120dex101.htm (EX-10.1) — 110KB
- d832120dex102.htm (EX-10.2) — 43KB
- d832120dex103.htm (EX-10.3) — 51KB
- d832120dex104.htm (EX-10.4) — 20KB
- 0001193125-24-123907.txt ( ) — 457KB
- grc-20240425.xsd (EX-101.SCH) — 3KB
- grc-20240425_lab.xml (EX-101.LAB) — 17KB
- grc-20240425_pre.xml (EX-101.PRE) — 11KB
- d832120d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit (10.1) The Gorman-Rupp Company 2024 Omnibus Incentive Plan (10.2) Form of Restricted Stock Unit Grant Agreement (10.3) Form of Performance Share Grant Agreement (10.4) Form of Director Restricted Stock Agreement (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. THE GORMAN-RUPP COMPANY By /s/ Brigette A. Burnell Brigette A. Burnell Executive Vice President, General Counsel and Corporate Secretary April 30, 2024