MSC Industrial Direct EVP and Chief Supply Chain Officer to Transition to Executive Advisor Role

MSC INDUSTRIAL DIRECT CO INC

Douglas E. Jones will step down as EVP and Chief Supply Chain Officer effective March 1, 2023, becoming Executive Advisor, Supply Chain.
His annual base salary will be reduced to 50% of his prior salary, currently $217,886.37, during the advisory period ending Dec 31, 2023.
Jones receives a one-time cash payment of $275,000 in lieu of equity awards for fiscal 2022, plus continued health benefits and bonus eligibility.
The Transition Agreement includes a general release of claims, confidentiality obligations, and a non-disparagement clause.
Jones will cooperate with the company on transition matters and retains D&O insurance coverage through his employment term.

item 5.02 item 9.01

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Role change

Douglas E. Jones

Executive Advisor, Supply Chain

MSM · MSC INDUSTRIAL DIRECT CO INC

Effective: 2023-03-01
Filed: September 7, 2022, 7:59 PM ET

transition from his position as Executive Vice President and Chief Supply Chain Officer of the Company to Executive Advisor, Supply Chain of the Company, effective as of March 1, 2023

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Douglas E. Jones was appointed as Executive Advisor, Supply Chain at MSC INDUSTRIAL DIRECT CO INC.

Action: appointed
Role: Executive Advisor, Supply Chain

Exact text from the filing

transition from his position as Executive Vice President and Chief Supply Chain Officer of the Company to Executive Advisor, Supply Chain of the Company, effective as of March 1, 2023

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MSC INDUSTRIAL DIRECT CO INC filing history →

Source: SEC EDGAR

accession 0001003078-22-000096

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