MSC Industrial Direct Names New CEO, Board Restructures
Ticker: MSM · Form: 8-K · Filed: Aug 27, 2024 · CIK: 1003078
Sentiment: neutral
Topics: leadership-change, executive-appointment, board-restructure
TL;DR
New CEO at MSC Industrial Direct, Gabor takes over as Gershwind moves to Executive Chairman.
AI Summary
MSC Industrial Direct Co., Inc. announced on August 27, 2024, the appointment of Michael J. Gabor as Chief Executive Officer, effective September 3, 202 the company also announced the appointment of Erik S. Gershwind as Executive Chairman of the Board. Gabor previously served as President of MSC Industrial Supply, Co., a subsidiary of the registrant.
Why It Matters
This leadership change signifies a strategic shift for MSC Industrial Direct, potentially impacting its operational direction and market strategy.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and execution, impacting investor confidence.
Key Players & Entities
- MSC Industrial Direct Co., Inc. (company) — Registrant
- Michael J. Gabor (person) — Appointed Chief Executive Officer
- September 3, 2024 (date) — Effective date of new CEO
- Erik S. Gershwind (person) — Appointed Executive Chairman of the Board
- MSC Industrial Supply, Co. (company) — Subsidiary where Gabor previously served as President
FAQ
What is the effective date for Michael J. Gabor's appointment as CEO?
Michael J. Gabor's appointment as Chief Executive Officer is effective September 3, 2024.
What is Erik S. Gershwind's new role?
Erik S. Gershwind has been appointed as the Executive Chairman of the Board.
What was Michael J. Gabor's previous role at MSC Industrial Direct?
Michael J. Gabor previously served as President of MSC Industrial Supply, Co., a subsidiary of MSC Industrial Direct Co., Inc.
What is the filing date of this 8-K report?
The report was filed on August 27, 2024.
What is the principal executive office address for MSC Industrial Direct Co., Inc.?
The principal executive offices are located at 515 Broadhollow Road, Suite 1000, Melville, New York 11747.
Filing Stats: 779 words · 3 min read · ~3 pages · Grade level 10.7 · Accepted 2024-08-27 16:37:46
Key Financial Figures
- $0.001 — tered Class A Common Stock, par value $0.001 per share MSM New York Stock Exchange
- $97,500 — a retainer for service on the Board of $97,500 per year and (ii) an annual grant of re
- $132,500 — aving an aggregate fair market value of $132,500 on the date of grant upon his election
Filing Documents
- msm-20240827.htm (8-K) — 31KB
- exhibit991boardofdirectors.htm (EX-99.1) — 10KB
- imagea.jpg (GRAPHIC) — 10KB
- 0001003078-24-000083.txt ( ) — 183KB
- msm-20240827.xsd (EX-101.SCH) — 2KB
- msm-20240827_lab.xml (EX-101.LAB) — 22KB
- msm-20240827_pre.xml (EX-101.PRE) — 13KB
- msm-20240827_htm.xml (XML) — 3KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits: 99.1 Press Release, dated August 27 , 2024, issued by MSC Industrial Direct Co., Inc. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). 2 SIGNATURE 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. MSC INDUSTRIAL DIRECT CO., INC. Date: August 27, 2024 By: /s/ KRISTEN ACTIS-GRANDE Name: Kristen Actis-Grande Title: Executive Vice President and Chief Financial Officer 3