Lear Corp Reports Director Departure, New Officer Appointments
Ticker: LEA · Form: 8-K · Filed: 2024-08-12T00:00:00.000Z
Sentiment: neutral
Topics: leadership-change, executive-compensation, officer-appointment
Related Tickers: LEA
TL;DR
Lear Corp's board is shaking up: Director Johnson out, Smith takes CEO reins, new exec pay plans in.
AI Summary
On August 8, 2024, Lear Corporation filed an 8-K report detailing the departure of Director John D. Johnson and the appointment of new officers, including President and CEO, Gregory L. Smith. The filing also disclosed compensatory arrangements for certain officers, though specific dollar amounts were not immediately detailed in this summary.
Why It Matters
Changes in key leadership positions and executive compensation can signal shifts in company strategy and future performance.
Risk Assessment
Risk Level: medium — Leadership changes and adjustments to executive compensation can introduce uncertainty regarding future strategic direction and operational execution.
Key Players & Entities
- John D. Johnson (person) — Departing Director
- Gregory L. Smith (person) — Appointed President and CEO
- LEAR CORP (company) — Registrant
- August 8, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new President and CEO of Lear Corporation?
Gregory L. Smith has been appointed as the new President and CEO of Lear Corporation.
Which director has departed from Lear Corporation's board?
John D. Johnson has departed from Lear Corporation's board.
What is the exact date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing is August 8, 2024.
What are the main items covered in this 8-K filing?
This 8-K filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
What is Lear Corporation's state of incorporation?
Lear Corporation's state of incorporation is Delaware.
From the Filing
0000842162-24-000054.txt : 20240812 0000842162-24-000054.hdr.sgml : 20240812 20240812090745 ACCESSION NUMBER: 0000842162-24-000054 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240808 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240812 DATE AS OF CHANGE: 20240812 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEAR CORP CENTRAL INDEX KEY: 0000842162 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 133386776 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11311 FILM NUMBER: 241195138 BUSINESS ADDRESS: STREET 1: 21557 TELEGRAPH ROAD CITY: SOUTHFIELD STATE: MI ZIP: 48033 BUSINESS PHONE: 2484471500 MAIL ADDRESS: STREET 1: 21557 TELEGRAPH ROAD CITY: SOUTHFIELD STATE: MI ZIP: 48033 FORMER COMPANY: FORMER CONFORMED NAME: LEAR CORP /DE/ DATE OF NAME CHANGE: 19960620 FORMER COMPANY: FORMER CONFORMED NAME: LEAR SEATING CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: LEAR SIEGLER SEATING CORP DATE OF NAME CHANGE: 19900723 8-K 1 lear-20240808.htm 8-K lear-20240808 0000842162 false 0000842162 2024-08-08 2024-08-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________  FORM 8-K ______________________________________  CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 8, 2024 ______________________________________  LEAR CORPORATION (Exact name of Registrant as specified in its charter) ______________________________________  Delaware 1-11311 13-3386776 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification Number) 21557 Telegraph Road , Southfield , MI 48033 (Address of principal executive offices) ( 248 ) 447-1500 (Registrant’s telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common stock, par value $0.01 LEA New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐ Section 5 - Corporate Governance and Management Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On August 8, 2024, the Board of Directors (the “Board”) of Lear Corporation (the “Company”