Turtle Beach CFO Departs; Interim Appointed

TL;DR

Turtle Beach CFO John Chen out, Shane Guerrero steps in as interim. Watch for financial updates.

AI Summary

Turtle Beach Corporation announced on July 22, 2024, the departure of its Chief Financial Officer, John J. Chen, effective immediately. The company has appointed Shane W. Guerrero as interim CFO. Guerrero previously served as the company's Senior Vice President, Corporate Controller, and Chief Accounting Officer.

Why It Matters

A sudden CFO departure can signal financial concerns or strategic shifts within a company, potentially impacting investor confidence and stock performance.

Risk Assessment

Risk Level: medium — A change in CFO, especially an immediate departure, can introduce uncertainty regarding the company's financial strategy and stability.

Key Players & Entities

• Turtle Beach Corporation (company) — Registrant
• John J. Chen (person) — Departing Chief Financial Officer
• Shane W. Guerrero (person) — Interim Chief Financial Officer
• July 22, 2024 (date) — Effective date of CFO departure

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 HEAR NASDAQ Preferred Stock Purch
• $50,000 — n annual cash retainer in the amount of $50,000 and an additional annual cash retainer
• $7,500 — d an additional annual cash retainer of $7,500 for her service on the Compensation Com

Filing Documents

• ef20033046_8k.htm (8-K) — 35KB
• ef20033046_ex99-1.htm (EX-99.1) — 13KB
• image00001.jpg (GRAPHIC) — 4KB
• 0001140361-24-034106.txt ( ) — 230KB
• hear-20240722.xsd (EX-101.SCH) — 4KB
• hear-20240722_def.xml (EX-101.DEF) — 17KB
• hear-20240722_lab.xml (EX-101.LAB) — 26KB
• hear-20240722_pre.xml (EX-101.PRE) — 19KB
• ef20033046_8k_htm.xml (XML) — 6KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 22, 2024, the Board of Directors (the "Board") of Turtle Beach Corporation (the "Company"), on the recommendation of the Nominating and Governance Committee of the Board (the "Nominating Committee"), appointed Elizabeth Berlacher Bush as a director of the Company, effective July 24, 2024, to fill the vacancy created by Ms. Michelle D. Wilson electing not to stand for reelection. The Board, on the recommendation of the Nominating Committee, also appointed Ms. Bush to serve on the Compensation Committee of the Board (the "Compensation Committee"). Ms. Bush currently serves as Global Head of Media and Entertainment Partnerships at Creative Artists Agency LLC ("CAA"), a role she has held since June 2024. Ms. Bush has also served as a director of CAA since April 2024 and, prior to her current role, served in various leadership positions at CAA since November 2020. Previously, Ms. Bush served as founder and Chief Executive Officer of Tandem Investment Holdings LLC ("Tandem"), a creative agency, from March 2015 to November 2020, when Tandem was acquired by CAA. Prior to founding Tandem, Ms. Bush worked for the Walt Disney Company as Head of Global Promotions at Marvel Entertainment LLC from April 2012 to March 2015 and Director of Marketing and Strategic Partnerships at American Broadcasting Company from May 2009 to April 2012. Earlier in her career, Ms. Bush served as the Director of Marketing for the Women's National Basketball Association (WNBA) team the Los Angeles Sparks from September 2007 to May 2009, and worked in team marketing and business operations for the National Basketball Association (NBA) from September 2004 to September 2007. Ms. Bush also serves as an advisory board member at IMPACT Learning Institute and as an adviser at Female Founder Collective and she previously served as a media advis

01

Item 7.01. Regulation FD. On July 25, 2024, the Company issued a press release announcing Ms. Bush's appointment to the Board. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this Item 7.01 is being furnished pursuant to Regulation FD and no part shall be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing. Item9.01.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release of Turtle Beach Corporation, dated July 25, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. TURTLE BEACH CORPORATION Date:July 25, 2024 By: /s/ JOHN T. HANSON John T. Hanson Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR