Methode Electronics CFO Ronald Tsoumas to retire July 12, 2024; interim CFO planned

METHODE ELECTRONICS INC

CFO Ronald Tsoumas to retire effective July 12, 2024; search for permanent successor underway with executive search firm.
Company intends to appoint David Rawden of AlixPartners as interim CFO until a permanent successor is hired.
CEO Avi Avula entered a severance agreement providing 2x base salary plus target bonus on termination without cause.
Avula's relocation reimbursement cap increased from $200,000 to $400,000 under amended offer letter.
Tsoumas will receive $12,000/month consulting fee for 6 months post-retirement to assist transition; equity awards pro-rated.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

David Rawden

Interim Chief Financial Officer

MEI · METHODE ELECTRONICS INC

Effective: 2024-07-12
Filed: April 8, 2024, 7:59 PM ET

On April 8, 2024, the Company announced the Board’s current intention to appoint David Rawden of AlixPartners, a business advisory firm currently providing a variety of consulting services to the Company, to serve as the Company’s Interim Chief Financial Officer upon Mr. Tsoumas’ retirement.

Departed

Ronald L.G. Tsoumas

Chief Financial Officer

MEI · METHODE ELECTRONICS INC

Effective: 2024-07-12
Successor: David Rawden
Filed: April 8, 2024, 7:59 PM ET

On April 8, 2024, Methode Electronics, Inc. (the “Company”) announced that Ronald L.G. Tsoumas, its Chief Financial Officer, plans to retire effective July 12, 2024

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David Rawden was appointed as Interim Chief Financial Officer at METHODE ELECTRONICS INC.

Action: announced the Board’s current intention to appoint
Role: Interim Chief Financial Officer

Exact text from the filing

On April 8, 2024, the Company announced the Board’s current intention to appoint David Rawden of AlixPartners, a business advisory firm currently providing a variety of consulting services to the Company, to serve as the Company’s Interim Chief Financial Officer upon Mr. Tsoumas’ retirement.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ronald L.G. Tsoumas departed as Chief Financial Officer at METHODE ELECTRONICS INC.

Action: plans to retire
Role: Chief Financial Officer

Exact text from the filing

On April 8, 2024, Methode Electronics, Inc. (the “Company”) announced that Ronald L.G. Tsoumas, its Chief Financial Officer, plans to retire effective July 12, 2024

View on SEC.gov

METHODE ELECTRONICS INC filing history →

Source: SEC EDGAR

accession 0000950170-24-042613

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