Enerpac appoints Paul Sternlieb as CEO; Randy Baker retires effective Oct 8, 2021

ENERPAC TOOL GROUP CORP

Paul Sternlieb appointed President, CEO and Board member effective Oct 8, 2021; succeeds Randy Baker.
Sternlieb previously EVP at John Bean Technologies (JBT), President of Protein; also held senior roles at ITW, Danaher.
Sternlieb compensation: $750k base salary, 100% target bonus, $2.1M equity awards, $415k signing bonus, $2.9M time-vesting RSUs.
Baker to remain as advisor through Dec 31, 2021; receives base salary, full FY2021 bonus, accelerated vesting of equity.
Sternlieb eligible for change-in-control agreement (2.99x multiple) and enhanced severance plan benefits.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Paul E. Sternlieb

President and Chief Executive Officer

EPAC · ENERPAC TOOL GROUP CORP

Effective: 2021-10-08
Filed: September 29, 2021, 7:59 PM ET

On September 23, 2021, the Board appointed Paul E. Sternlieb as the Company’s President and Chief Executive Officer and elected him as a director to fill the vacancy arising from Mr. Baker’s retirement, each effective as of Mr. Baker’s retirement as of October 8, 2021.

Departed

Randal W. Baker

President and Chief Executive Officer

EPAC · ENERPAC TOOL GROUP CORP

Effective: 2021-10-08
Successor: Paul E. Sternlieb
Filed: September 29, 2021, 7:59 PM ET

On September 23, 2021, Randal W. Baker, President and Chief Executive Officer of Enerpac Tool Group Corp. (the “Company”), notified the Company of his determination to retire from such positions and from the Board of Directors (“Board”) of the Company effective on October 8, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Paul E. Sternlieb was appointed as President and Chief Executive Officer at ENERPAC TOOL GROUP CORP.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On September 23, 2021, the Board appointed Paul E. Sternlieb as the Company’s President and Chief Executive Officer and elected him as a director to fill the vacancy arising from Mr. Baker’s retirement, each effective as of Mr. Baker’s retirement as of October 8, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Randal W. Baker retired as President and Chief Executive Officer at ENERPAC TOOL GROUP CORP.

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

On September 23, 2021, Randal W. Baker, President and Chief Executive Officer of Enerpac Tool Group Corp. (the “Company”), notified the Company of his determination to retire from such positions and from the Board of Directors (“Board”) of the Company effective on October 8, 2021.

View on SEC.gov

ENERPAC TOOL GROUP CORP filing history →

Source: SEC EDGAR

accession 0001157523-21-001171

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