Hexcel CFO Departs; Interim Appointed; Stockholders Meet
Ticker: HXL · Form: 8-K · Filed: May 6, 2024 · CIK: 717605
| Field | Detail |
|---|---|
| Company | Hexcel CORP /De/ (HXL) |
| Form Type | 8-K |
| Filed Date | May 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-departure, cfo, governance, annual-meeting
TL;DR
Hexcel CFO out, interim in. Stockholders approved auditor. Routine governance.
AI Summary
On May 2, 2024, Hexcel Corporation announced the departure of its Chief Financial Officer, Patrick G. Wheeler, effective May 3, 2024. The company also appointed R. David Smith as interim CFO. Additionally, Hexcel Corporation held its Annual Meeting of Stockholders on May 2, 2024, where all director nominees were elected and a proposal to ratify the appointment of PricewaterhouseCoopers LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2024, was approved.
Why It Matters
The departure of a CFO can signal changes in financial strategy or performance, while the ratification of auditors is a routine but important governance step.
Risk Assessment
Risk Level: medium — Changes in key financial leadership like a CFO can introduce uncertainty regarding future financial strategy and execution.
Key Numbers
- 2024 — Fiscal Year End (Reporting period for auditor ratification)
Key Players & Entities
- Hexcel Corporation (company) — Registrant
- Patrick G. Wheeler (person) — Departing Chief Financial Officer
- R. David Smith (person) — Interim Chief Financial Officer
- May 2, 2024 (date) — Date of earliest event reported
- May 3, 2024 (date) — Effective date of CFO departure
- PricewaterhouseCoopers LLP (company) — Independent registered public accounting firm
FAQ
Who has been appointed as the interim Chief Financial Officer of Hexcel Corporation?
R. David Smith has been appointed as the interim Chief Financial Officer.
When is the departure of Patrick G. Wheeler effective?
Patrick G. Wheeler's departure is effective May 3, 2024.
What was the date of Hexcel Corporation's Annual Meeting of Stockholders?
The Annual Meeting of Stockholders was held on May 2, 2024.
What proposal was approved by the stockholders regarding the company's auditors?
The stockholders approved a proposal to ratify the appointment of PricewaterhouseCoopers LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2024.
What is Hexcel Corporation's state of incorporation?
Hexcel Corporation is incorporated in Delaware.
Filing Stats: 657 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2024-05-06 16:01:21
Filing Documents
- c109018_8k-ixbrl.htm (8-K) — 32KB
- 0000930413-24-001763.txt ( ) — 169KB
- hxl-20240502.xsd (EX-101.SCH) — 3KB
- hxl-20240502_def.xml (EX-101.DEF) — 11KB
- hxl-20240502_lab.xml (EX-101.LAB) — 20KB
- hxl-20240502_pre.xml (EX-101.PRE) — 11KB
- c109018_8k-ixbrl_htm.xml (XML) — 3KB
02 Departure of Directors or
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 2, 2024, the Board of Directors (the "Board") of Hexcel Corporation (the "Company"), following the 2024 Annual Meeting of Stockholders of the Company (the "2024 Annual Meeting), increased the number of members of the Board from 8 to 9 and appointed Thomas C. Gentile III, the Company's Chief Executive Officer and President, as a director of the Company, effective immediately. Mr. Gentile will not be appointed to any committees of the Board and will not receive any compensation for his services as a director. Mr. Gentile was not selected as a director pursuant to any arrangement or understanding between him and any other person and there are no related party transactions between the Company and Mr. Gentile.
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. The 2024 Annual Meeting was held on May 2, 2024. The final voting results from the 2024 Annual Meeting are as follows: (i) The stockholders elected all of the Company's nominees for director as follows: Name of Director For Against Abstain Broker Non-Votes Nick L. Stanage 69,398,653 5,128,414 48,915 3,816,437 Jeffrey C. Campbell 65,048,723 9,478,640 48,619 3,816,437 James J. Cannon 72,126,795 2,403,264 45,923 3,816,437 Cynthia M. Egnotovich 47,134,986 27,344,506 96,490 3,816,437 Thomas A. Gendron 68,975,839 5,551,441 48,702 3,816,437 Guy C. Hachey 68,823,363 5,710,125 42,494 3,816,437 Dr. Patricia A. Hubbard 72,362,636 2,169,134 44,212 3,816,437 Catherine A. Suever 71,983,239 2,548,898 43,845 3,816,437 (ii) The stockholders, on an advisory, non-binding basis, approved the 2023 compensation of the Company's named executive officers as follows: For Against Abstain Broker Non-Votes 70,086,461 4,232,546 256,975 3,816,437 (iii) The stockholders ratified the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for 2024 as follows: For Against Abstain 75,381,470 2,803,005 207,944
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. Dated: May 6, 2024 Hexcel Corporation By: /s/ Gail E. Lehman Name: Gail E. Lehman Title: Executive Vice President, General Counsel and Secretary