Jacobs Solutions CFO Departs, Interim Appointed
Ticker: J · Form: 8-K · Filed: Sep 6, 2024 · CIK: 52988
Sentiment: neutral
Topics: cfo-change, leadership-transition
Related Tickers: J
TL;DR
Jacobs Solutions CFO Kevin Berry out, Timothy Haselden steps in as interim. Big changes ahead?
AI Summary
Jacobs Solutions Inc. announced on September 3, 2024, the departure of its Chief Financial Officer, Kevin M. Berry. The company has appointed Timothy J. Haselden as the interim CFO, effective immediately. This change is part of a broader leadership transition within the company.
Why It Matters
A CFO departure can signal shifts in financial strategy or performance, impacting investor confidence and the company's stock price.
Risk Assessment
Risk Level: medium — A sudden CFO departure can create uncertainty regarding financial strategy and future performance.
Key Players & Entities
- Jacobs Solutions Inc. (company) — Registrant
- Kevin M. Berry (person) — Departing Chief Financial Officer
- Timothy J. Haselden (person) — Interim Chief Financial Officer
- September 3, 2024 (date) — Effective date of CFO change
FAQ
Who has been appointed as the interim Chief Financial Officer of Jacobs Solutions Inc.?
Timothy J. Haselden has been appointed as the interim Chief Financial Officer.
When did the departure of the Chief Financial Officer become effective?
The departure of the Chief Financial Officer became effective on September 3, 2024.
What is the former CFO's full name?
The former CFO's full name is Kevin M. Berry.
What is the principal executive office address for Jacobs Solutions Inc.?
The principal executive office address is 1999 Bryan Street, Suite 3500, Dallas, Texas 75201.
What is the SEC file number for Jacobs Solutions Inc.?
The SEC file number for Jacobs Solutions Inc. is 001-07463.
Filing Stats: 1,089 words · 4 min read · ~4 pages · Grade level 10.5 · Accepted 2024-09-06 08:00:28
Key Financial Figures
- $1 — hange on Which Registered Common Stock $1 par value J New York Stock Exchange I
- $125,000 — es (i) a cash retainer in the amount of $125,000 per year, and (ii) pursuant to the Comp
- $190,000 — stock units with an aggregate value of $190,000, pro-rated based on his election date.
Filing Documents
- j-20240903.htm (8-K) — 41KB
- exh991pressrelease-x9624xn.htm (EX-99.1) — 12KB
- exh992pressrelease-x9624xn.htm (EX-99.2) — 14KB
- imagea.jpg (GRAPHIC) — 227KB
- 0000052988-24-000056.txt ( ) — 515KB
- j-20240903.xsd (EX-101.SCH) — 2KB
- j-20240903_lab.xml (EX-101.LAB) — 22KB
- j-20240903_pre.xml (EX-101.PRE) — 13KB
- j-20240903_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events Changes to Board Leadership On September 3, 2024, the Board approved (ii) the appointment of Mr. Robert V. Pragada, the Company's Chief Executive Officer, as Chair of the Board and (ii) the appointment of Mr. Louis V. Pinkham as Lead Independent Director of the Board, in each case effective as of the closing date of the Company's previously announced spin-off transaction, which will combine its Critical Mission Solutions business and portions of its Divergent Solutions business, including Cyber & Intelligence, with Amentum Parent Holdings LLC (the "Separation Transaction"). A copy of the press release announcing the appointment of Mr. Pragada as Chair and Mr. Pinkham as Lead Independent Director is attached as Exhibit 99.2 to this report and is incorporated herein by reference. Changes to Committee Composition and Leadership The Board also approved the following changes to the leadership and composition of the standing Committees of the Board, in each case effective as of the closing date of the Separation Transaction: Audit Committee : (i) Mr. Collins and Vice Admiral Mary M. Jackson will be added as members, (ii) Mr. Manny Fernandez will serve as Chair and (iii) Mr. Robert A. McNamara and Ms. Julie A. Sloat will no longer serve as members. Nominating and Corporate Governance Committee : (i) Mr. McNamara and Vice Admiral Jackson will be added as members, (ii) Mr. McNamara will serve as Chair and (iii) Mr. Pinkham will no longer serve as a member. Human Resource and Compensation Committee : (i) Mr. Collins and Ms. Sloat will be added as members and (ii) Messrs. Fernandez and Pinkham will no longer serve as members. ESG and Risk Committee : (i) Mr. Fernandez will be added as a member and (ii) Ms. Sloat will serve as Chair. The Board also determined that Vice Admiral Jackson is "financially literate" as required by the NYSE listed company manual and is an "audit committee financial expert" under the applicable rules of the SEC,
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits: 99.1 Press Release, dated September 6, 2024 (Announcing the appointment of Michael Collins to the Board) 99.2 Press Release, dated September 6, 2024 (Announcing the appointment of Bob Pragada as Chair and Louis Pinkham as Lead Independent Director) 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document 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: September 6, 2024 JACOBS SOLUTIONS INC. By: /s/ Bob Pragada Bob Pragada Chief Executive Officer