TE Connectivity Announces Executive and Board Changes

Ticker: TEL · Form: 8-K · Filed: 2024-11-12T00:00:00.000Z

Sentiment: neutral

Topics: executive-changes, board-changes, governance

Related Tickers: TEL

TL;DR

TE Connectivity shakes up exec team & board. Big changes coming?

AI Summary

TE Connectivity plc announced on November 11, 2024, changes in its executive team and board of directors. Specifically, the company reported the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for its key executives.

Why It Matters

Changes in executive leadership and board composition can signal shifts in company strategy, governance, and future performance.

Risk Assessment

Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and operational stability.

Key Players & Entities

FAQ

Who are the specific officers departing TE Connectivity?

The filing indicates the departure of certain officers but does not name them specifically in the provided text.

Who are the newly elected directors?

The filing mentions the election of directors but does not provide their names in the provided text.

What are the details of the compensatory arrangements for certain officers?

The filing notes updates to compensatory arrangements but does not specify the details in the provided text.

What is the reason for these executive and board changes?

The filing does not explicitly state the reasons for the departures or elections in the provided text.

When did these changes become effective?

The earliest event reported is November 11, 2024, suggesting the changes are effective around this date.

Filing Stats: 779 words · 3 min read · ~3 pages · Grade level 11.1 · Accepted 2024-11-12 11:02:48

Key Financial Figures

Filing Documents

02. Departure of Directors or Certain Officers; Election

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 11, 2024, Robert J. Ott, the Senior Vice President and Corporate Controller for TE Connectivity plc (the "Company"), announced his intent to retire effective January 3, 2025. On November 11, 2024, the Company appointed Reuben M. Shaffer to succeed Mr. Ott as Senior Vice President and Corporate Controller, upon Mr. Ott's retirement. Mr. Shaffer, age 45, has served as Vice President, Assistant Corporate Controller for TE Connectivity since December 2023 and Vice President, Internal Audit from October 2021 through November 2023. From July 2008 through September 2021, he held roles of increasing responsibility at the Company within Controlling and Global Treasury. Prior to joining TE, Mr. Shaffer was a Manager at Protiviti. There are no arrangements or understandings between Mr. Shaffer and any other person pursuant to which Mr. Shaffer was selected as an officer of the Company. Mr. Shaffer has no family relationship with any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer. There are no transactions in which Mr. Shaffer has an interest requiring disclosure under Item 404(a) of Regulation S-K.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure The Board of Directors (the "Board") of the Company has scheduled the Company's 2025 Annual General Meeting of Shareholders (the "2025 Annual Meeting") for March 12, 2025. The Company will provide additional details regarding the time and matters to be voted on at the 2025 Annual Meeting in the proxy statement to be filed with the U.S. Securities and Exchange Commission prior to the Annual Meeting. Shareholders of record of the Company's ordinary shares at the close of business on January 9, 2025 will be entitled to notice of, and to vote at, the 2025 Annual Meeting and any adjournments or postponements thereof. Under the Company's memorandum and articles of associations (the "Articles"), for the 2025 Annual Meeting only, the deadline for advance notice from shareholders to present a proposal or director nomination at the meeting is no later than November 22, 2024. This is also the deadline to comply with the universal proxy rules under Rule 14a-19 of the Securities Exchange Act of 1934, as amended, if the other requirements of Rule 14a-19 and the Articles are met.

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. Date: November 12, 2024 TE CONNECTIVITY PLC By: /s/ Harold G. Barksdale Name: Harold G. Barksdale Title: Vice President and Corporate Secretary

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