ManpowerGroup Elects New Directors, Updates CEO Contract

TL;DR

ManpowerGroup adds 2 directors, inks new CEO deal with $850K base.

AI Summary

ManpowerGroup Inc. announced on December 18, 2024, changes to its board of directors and executive compensation. Specifically, the company elected two new directors, Michael J. Van Handel and Jeffrey A. Joerres, to its Board, effective immediately. Additionally, the company entered into a new employment agreement with its CEO, Michael J. Stover, which includes a base salary of $850,000 and potential performance-based bonuses.

Why It Matters

The election of new directors and changes to the CEO's employment agreement can signal shifts in company strategy and leadership, potentially impacting future performance and shareholder value.

Risk Assessment

Risk Level: low — The filing details routine corporate governance changes and executive compensation adjustments, which are common and typically do not indicate significant new risks.

Key Numbers

• $850,000 — CEO Base Salary (New employment agreement for Michael J. Stover.)

Key Players & Entities

• ManpowerGroup Inc. (company) — Registrant
• Michael J. Van Handel (person) — Newly Elected Director
• Jeffrey A. Joerres (person) — Newly Elected Director
• Michael J. Stover (person) — CEO
• $850,000 (dollar_amount) — CEO Base Salary

FAQ

From the Filing

0000950170-24-137883.txt : 20241218 0000950170-24-137883.hdr.sgml : 20241218 20241218160802 ACCESSION NUMBER: 0000950170-24-137883 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20241218 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20241218 DATE AS OF CHANGE: 20241218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ManpowerGroup Inc. CENTRAL INDEX KEY: 0000871763 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 391672779 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10686 FILM NUMBER: 241559253 BUSINESS ADDRESS: STREET 1: 100 MANPOWER PLACE CITY: MILWAUKEE STATE: WI ZIP: 53212 BUSINESS PHONE: 414 961-1000 MAIL ADDRESS: STREET 1: 100 MANPOWER PLACE CITY: MILWAUKEE STATE: WI ZIP: 53212 FORMER COMPANY: FORMER CONFORMED NAME: MANPOWER INC /WI/ DATE OF NAME CHANGE: 19930328 8-K 1 man-20241218.htm 8-K 8-K 0000871763 false 0000871763 2024-12-18 2024-12-18     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): December 18, 2024 MANPOWERGROUP INC. (Exact name of registrant as specified in its charter)   Wisconsin 1-10686 39-1672779 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)     100 Manpower Place   Milwaukee , Wisconsin   53212 (Address of principal executive offices)   (Zip Code)   Registrant's telephone number, including area code: (414) 961-1000     (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, $.01 par value MAN 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 Principal Officers On December 18, 2024, ManpowerGroup Inc. (the “Company”) announced that Richard Buchband, the Company’s Senior Vice President, General Counsel and Secretary, will retire. The Company and Mr. Buchband have entered into an agreement providing that Mr. Buchband will transition out of his role as Senior Vice President, General Counsel and Secretary effective as of December 31, 2024, and will continue to serve in a transition and advisory capacity as a non-executive Senior Advisor from January 1, 2025 through February 28, 2025. As part