MSC Industrial Direct Names New CEO, Board Restructures

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

From the Filing

0001003078-24-000083.txt : 20240827 0001003078-24-000083.hdr.sgml : 20240827 20240827163746 ACCESSION NUMBER: 0001003078-24-000083 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240827 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: 20240827 DATE AS OF CHANGE: 20240827 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MSC INDUSTRIAL DIRECT CO INC CENTRAL INDEX KEY: 0001003078 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT [5084] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 113289165 STATE OF INCORPORATION: NY FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14130 FILM NUMBER: 241249665 BUSINESS ADDRESS: STREET 1: 515 BROADHOLLOW ROAD CITY: MELVILLE STATE: NY ZIP: 11747 BUSINESS PHONE: 516-812-2000 MAIL ADDRESS: STREET 1: 515 BROADHOLLOW ROAD CITY: MELVILLE STATE: NY ZIP: 11747 8-K 1 msm-20240827.htm 8-K msm-20240827 0001003078 FALSE 0001003078 2024-08-27 2024-08-27 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 27, 2024 ___________________________________ MSC INDUSTRIAL DIRECT CO., INC. (Exact name of registrant as specified in its charter) ___________________________________ New York 1-14130 11-3289165 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 515 Broadhollow Road , Suite 1000 , Melville , New York 11747 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: ( 516 ) 812-2000 Not Applicable (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 Class A Common Stock, par value $0.001 per share MSM 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. ☐ Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (d) On August 27, 2024, the Board of Directors (the “Board”) of MSC Industrial Direct Co., Inc. (the “Company”) elected Robert Aarnes to serve as a non-executive director, effective immediately, increasing the size of the Board from eight to nine members. Mr. Aarnes will join the Board as an independent director and will serve as a member of the Compensation Committee of th