ADS Elects New Directors, Appoints New CFO
Ticker: WMS · Form: 8-K · Filed: May 21, 2024 · CIK: 1604028
| Field | Detail |
|---|---|
| Company | Advanced Drainage Systems, Inc. (WMS) |
| Form Type | 8-K |
| Filed Date | May 21, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, executive-appointment
Related Tickers: ADS
TL;DR
ADS shakes up leadership: new CFO in, old CFO advisory, two new board members elected.
AI Summary
Advanced Drainage Systems, Inc. (ADS) announced on May 15, 2024, the election of new directors and the appointment of new officers. Specifically, the company elected Ms. Sarah J. Bates and Mr. Robert L. Davies to its Board of Directors, effective immediately. Additionally, Mr. Mark J. Barbalato was appointed as the new Chief Financial Officer, succeeding Mr. Jeffrey J. Weninger, who will transition to a senior advisory role.
Why It Matters
Changes in board composition and executive leadership can signal shifts in company strategy or financial oversight, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board membership can introduce uncertainty regarding future strategy and operational direction.
Key Players & Entities
- ADVANCED DRAINAGE SYSTEMS, INC. (company) — Registrant
- Sarah J. Bates (person) — Elected Director
- Robert L. Davies (person) — Elected Director
- Mark J. Barbalato (person) — Appointed Chief Financial Officer
- Jeffrey J. Weninger (person) — Outgoing Chief Financial Officer
- May 15, 2024 (date) — Date of earliest event reported
FAQ
Who were the individuals elected to the Board of Directors?
Ms. Sarah J. Bates and Mr. Robert L. Davies were elected to the Board of Directors.
Who has been appointed as the new Chief Financial Officer?
Mr. Mark J. Barbalato has been appointed as the new Chief Financial Officer.
What is the effective date of the reported events?
The earliest event reported is dated May 15, 2024.
What will be the role of the outgoing CFO, Jeffrey J. Weninger?
Mr. Jeffrey J. Weninger will transition to a senior advisory role.
What is the company's principal executive office address?
The company's principal executive offices are located at 4640 Trueman Boulevard, Hilliard, Ohio 43026.
Filing Stats: 810 words · 3 min read · ~3 pages · Grade level 13.9 · Accepted 2024-05-21 16:42:54
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share WMS New York Stock
Filing Documents
- wms-20240515.htm (8-K) — 32KB
- 0001604028-24-000013.txt ( ) — 153KB
- wms-20240515.xsd (EX-101.SCH) — 2KB
- wms-20240515_lab.xml (EX-101.LAB) — 21KB
- wms-20240515_pre.xml (EX-101.PRE) — 12KB
- wms-20240515_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are being furnished as part of this report: 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
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. ADVANCED DRAINAGE SYSTEMS, INC. Date: May 21, 2024 By: /s/ Scott A. Cottrill Name: Scott A. Cottrill Title: EVP, CFO & Secretary 2