MillerKnoll Appoints Interim CFO, Michael Wagner

TL;DR

MillerKnoll names Michael Wagner interim CFO, salary $425k, search for permanent is on.

AI Summary

On July 16, 2024, MillerKnoll, Inc. announced the appointment of Michael D. Wagner as Interim Chief Financial Officer, effective immediately. Wagner, who previously served as Senior Vice President, Corporate Controller and Chief Accounting Officer, will assume these new responsibilities while the company conducts a search for a permanent CFO. He will receive an annual base salary of $425,000 and will be eligible for a pro-rated annual incentive award.

Why It Matters

The appointment of an interim CFO signals a transition period for the company's financial leadership, which could impact investor confidence and strategic financial decisions.

Risk Assessment

Risk Level: medium — A change in CFO, even interim, can introduce uncertainty regarding financial strategy and execution.

Key Numbers

• $425,000 — Interim CFO Salary (Annual base salary for Michael D. Wagner.)

Key Players & Entities

• MillerKnoll, Inc. (company) — Registrant
• Michael D. Wagner (person) — Interim Chief Financial Officer
• $425,000 (dollar_amount) — Interim CFO's annual base salary

FAQ

Key Financial Figures

• $0.20 — ich registered Common Stock, par value $0.20 per share MLKN Nasdaq Global Select Mar
• $200 million — chase program authorizing an additional $200 million to fund share repurchases. This is in a
• $66,261,320 — repurchases. This is in addition to the $66,261,320 remaining, as of June 1, 2024, under th

Filing Documents

• mlkn-20240716.htm (8-K) — 28KB
• 0000066382-24-000038.txt ( ) — 151KB
• mlkn-20240716.xsd (EX-101.SCH) — 2KB
• mlkn-20240716_lab.xml (EX-101.LAB) — 21KB
• mlkn-20240716_pre.xml (EX-101.PRE) — 12KB
• mlkn-20240716_htm.xml (XML) — 3KB

01 Other Events

Item 8.01 Other Events On July 16, 2024, the Board of Directors of MillerKnoll, Inc. (the "Company") approved an amendment to the Company's stock repurchase program authorizing an additional $200 million to fund share repurchases. This is in addition to the $66,261,320 remaining, as of June 1, 2024, under the stock repurchase program previously authorized by the Board. Under the repurchase program, the Company may repurchase shares from time to time in any manner management believes to be in the best interests of the Company and its shareholders, including through privately negotiated transactions and open market purchases, which may be made pursuant to a trading plan adopted in accordance with Rule 10b5-1. Repurchases will be made at management's discretion, subject to general market conditions, alternative uses for capital, the Company's financial performance, and other factors. The Company currently expects to fund any repurchases of its shares through existing cash on hand and future cash flows. The repurchase program may be suspended, terminated, or modified at any time and from time to time, and for any reason, including market conditions, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to purchase any shares.

Forward-Looking Statements

Forward-Looking Statements This report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to future events and anticipated results of operations, business strategies, the anticipated benefits of our acquisition of Knoll, the anticipated impact of the Knoll acquisition on the combined company's business and future financial and operating results, the expected amount and timing of synergies from the Knoll acquisition, and other aspects of our operations or operating results. These forward-looking statements generally can be identified by phrases such as "will," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of MillerKnoll or the price of MillerKnoll's stock. These forward-looking statements involve certain risks and uncertainties, many of which are beyond MillerKnoll's control, that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: global and national economic conditions including heightened inflation, uncertainty regarding future interest rates, foreign currency exchange rate fluctuations, escalating tensions in the Middle East, the continuation of the Russia-Ukraine war, and potential governmental responses to these events; the impact of any government policies and actions to protect the health and safety of individuals or to maintain the functioning of national or global economies, and the Company's response to any such policies and actions; the impact of public health crises, such as pandemics and epidemics; risks related to the additional debt incurred in connection with

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View this 8-K filing on SEC EDGAR