Kennametal Appoints New CFO
Ticker: KMT · Form: 8-K · Filed: Aug 5, 2024 · CIK: 55242
| Field | Detail |
|---|---|
| Company | Kennametal Inc (KMT) |
| Form Type | 8-K |
| Filed Date | Aug 5, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1.25 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, cfo-appointment
Related Tickers: SWK
TL;DR
Kennametal just hired a new CFO, Michael L. Lutt, from Stanley Black & Decker.
AI Summary
On July 30, 2024, Kennametal Inc. announced the appointment of Michael L. Lutt as its new Chief Financial Officer, succeeding Patrick D. Watson. Lutt, previously the CFO of Stanley Black & Decker's Industrial Solutions segment, brings extensive financial leadership experience to Kennametal.
Why It Matters
A change in CFO can signal shifts in financial strategy or operational focus, impacting investor confidence and the company's financial performance.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Players & Entities
- Kennametal Inc. (company) — The company filing the report.
- Michael L. Lutt (person) — Newly appointed Chief Financial Officer.
- Patrick D. Watson (person) — Outgoing Chief Financial Officer.
- Stanley Black & Decker (company) — Previous employer of the new CFO.
FAQ
When was Michael L. Lutt appointed as the new CFO of Kennametal Inc.?
Michael L. Lutt was appointed as the new Chief Financial Officer of Kennametal Inc. on July 30, 2024.
Who is the new Chief Financial Officer of Kennametal Inc.?
The new Chief Financial Officer of Kennametal Inc. is Michael L. Lutt.
Who did Michael L. Lutt succeed as CFO at Kennametal Inc.?
Michael L. Lutt succeeded Patrick D. Watson as the Chief Financial Officer of Kennametal Inc.
What was Michael L. Lutt's previous role before joining Kennametal Inc.?
Before joining Kennametal Inc., Michael L. Lutt was the CFO of Stanley Black & Decker's Industrial Solutions segment.
What is Kennametal Inc.'s state of incorporation?
Kennametal Inc. is incorporated in Pennsylvania.
Filing Stats: 1,237 words · 5 min read · ~4 pages · Grade level 10.9 · Accepted 2024-08-05 08:45:37
Key Financial Figures
- $1.25 — ch registered Capital Stock, par value $1.25 per share KMT New York Stock Exchange
Filing Documents
- kmt-20240730.htm (8-K) — 41KB
- kmt852024exhibit991.htm (EX-99.1) — 10KB
- new2022prheader.jpg (GRAPHIC) — 36KB
- 0000055242-24-000047.txt ( ) — 286KB
- kmt-20240730.xsd (EX-101.SCH) — 3KB
- kmt-20240730_def.xml (EX-101.DEF) — 18KB
- kmt-20240730_lab.xml (EX-101.LAB) — 32KB
- kmt-20240730_pre.xml (EX-101.PRE) — 18KB
- kmt-20240730_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events. On July 30, 2024, the Board declared a quarterly cash dividend of $.20 per share. The dividend is payable on August 27, 2024 to shareholders of record as of the close of business on August 13, 2024. On August 5, 2024, the Company issued a press release announcing the appointment of David Bersaglini as Vice President and President, Metal Cutting Business Segment. A copy of this press release is attached hereto as Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Form of Executive Officer Agreement as of April 2018 (Exhibit 10.60 of Form 10-K filed August 10, 2018 is incorporated herein by reference) 10.2 Form of Indemnification Agreement for Named Executive Officers (Exhibit 10.2 of the Form 8- K filed March 22, 2005 is incorporated herein by reference) 99.1 Press Release dated August 5, 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, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KENNAMETAL INC. Date: August 5, 2024 By: /s/ Michelle R. Keating Michelle R. Keating Vice President, Secretary and General Counsel 4