UNFI Names New CFO, Announces Executive Transition
Ticker: UNFI · Form: 8-K · Filed: Dec 18, 2024 · CIK: 1020859
| Field | Detail |
|---|---|
| Company | United Natural Foods INC (UNFI) |
| Form Type | 8-K |
| Filed Date | Dec 18, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-transition, cfo-appointment, leadership-change
Related Tickers: UNFI
TL;DR
UNFI gets a new CFO, Testa, starting Jan 6, 2025. Potter moves to advisor role.
AI Summary
United Natural Foods, Inc. (UNFI) announced on December 17, 2024, the appointment of Christopher J. Testa as Chief Financial Officer, effective January 6, 2025. Testa will succeed Michael J. V. R. Potter, who will transition to a senior advisory role until his retirement on February 1, 2025. Testa's annual base salary will be $550,000, with potential for a bonus and equity awards.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Executive transitions, especially for key financial roles, can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $550,000 — CFO Base Salary (Annual compensation for the newly appointed CFO, Christopher J. Testa.)
Key Players & Entities
- United Natural Foods, Inc. (company) — Registrant
- Christopher J. Testa (person) — Appointed Chief Financial Officer
- January 6, 2025 (date) — Effective date of new CFO's appointment
- Michael J. V. R. Potter (person) — Outgoing Chief Financial Officer
- February 1, 2025 (date) — Retirement date of outgoing CFO
- $550,000 (dollar_amount) — Annual base salary for new CFO
FAQ
Who is the new Chief Financial Officer of United Natural Foods, Inc.?
Christopher J. Testa has been appointed as the new Chief Financial Officer of United Natural Foods, Inc.
When does Christopher J. Testa's appointment as CFO become effective?
Christopher J. Testa's appointment as CFO is effective January 6, 2025.
What is the role of Michael J. V. R. Potter after the transition?
Michael J. V. R. Potter will transition to a senior advisory role until his retirement on February 1, 2025.
What is the annual base salary for the new CFO?
The annual base salary for Christopher J. Testa will be $550,000.
What is the exact date of the report?
The report is dated December 17, 2024.
Filing Stats: 876 words · 4 min read · ~3 pages · Grade level 10 · Accepted 2024-12-18 16:16:45
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 UNFI New York Stock Exchange Indicate
Filing Documents
- unfi-20241217.htm (8-K) — 57KB
- 0001020859-24-000100.txt ( ) — 180KB
- unfi-20241217.xsd (EX-101.SCH) — 2KB
- unfi-20241217_lab.xml (EX-101.LAB) — 21KB
- unfi-20241217_pre.xml (EX-101.PRE) — 12KB
- unfi-20241217_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. At the Annual Meeting, a total of 52,548,560 shares of the common stock of the Company, out of a total of 59,909,237 shares of common stock outstanding and entitled to vote as of October 23, 2024, the record date, were present in person or represented by proxies. The Company's stockholders voted on four proposals at the Annual Meeting. The results of voting on the four proposals, including final voting tabulations, are set forth below. (1) The stockholders elected Lynn S. Blake, Gloria R. Boyland, J. Alexander Miller Douglas, Daphne J. Dufresne, Michael S. Funk, James M. Loree, Shamim Mohammad, James L. Muehlbauer, James C. Pappas and Jack Stahl to serve as Directors until the next annual meeting of stockholders and until their successors are duly elected and qualified. Name For Against Abstain Broker Non-Votes Lynn S. Blake 45,449,341 1,142,661 289,317 5,667,241 Gloria R. Boyland 45,840,192 752,867 288,260 5,667,241 J. Alexander Miller Douglas 46,241,648 358,709 280,962 5,667,241 Daphne J. Dufresne 45,694,896 895,321 291,102 5,667,241 Michael S. Funk 46,480,810 159,463 241,046 5,667,241 James M. Loree 46,439,651 166,885 274,783 5,667,241 Shamim Mohammad 45,922,613 641,643 317,063 5,667,241 James L. Muehlbauer 46,370,053 248,759 262,507 5,667,241 James C. Pappas 45,181,073 1,456,265 243,981 5,667,241 Jack Stahl 44,816,165 1,777,984 287,170 5,667,241 (2) The stockholders approved the ratification of the selection of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year ending August 2, 2025. For Against Abstain Broker Non-Votes 51,410,833 887,705 250,022 — (3) The stockholders approved, on an advisory basis, the Company's executive compensation. For Against Abstain Broker Non-Votes 43,767,642 2,829,893 283,784 5,667,241 (4) The stockholders approved the Fourth Amended and Restated 2020 Equity Incentive Plan. For Against Abstain
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Fourth Amended and Restated United Natural Foods, Inc. 2020 Equity Incentive Plan (Filed as Annex A to the Registrant's Proxy Statement on Form DEF 14A filed on November 6, 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, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNITED NATURAL FOODS, INC. By: /s/ Giorgio Matteo Tarditi Name: Giorgio Matteo Tarditi Title: President and Chief Financial Officer Date: December 18, 2024