8-K
filed October 3, 2022, 7:59 PM ET
ticker VRT
CIK 0001674101
leadership
confidence high
sentiment neutral
materiality 0.75
Vertiv CEO Rob Johnson to retire Dec 31; Albertazzi to succeed; Q4 guidance lowered
Vertiv Holdings Co
- Rob Johnson retires as CEO effective Dec 31, 2022; Giordano Albertazzi named COO immediately and CEO from Jan 1, 2023.
- Reaffirms Q3 2022 guidance at lower end; revises Q4 2022 adjusted operating profit to $220M-$240M (from prior mid-point down $22.5M) due to FX.
- Updates 2023 adjusted operating profit outlook to $730M-$750M; backlog at record $4.7B.
- Joseph DeAngelo appointed to Board of Directors, expanding board to 11 members.
- Albertazzi to receive $900k base salary, 125% bonus target, annual equity grant of $3.5M, and one-time option grant of 500,000.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rob Johnson departed as Director at Vertiv Holdings Co.
- Action
- step down
- Role
- Director
Exact text from the filing
Mr. Johnson will also step down from the Board of Directors effective December 31, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rob Johnson departed as Chief Executive Officer at Vertiv Holdings Co.
- Action
- retire
- Role
- Chief Executive Officer
Exact text from the filing
On October 3, 2022, Rob Johnson, Chief Executive Officer of Vertiv Holdings Co (the “Company”) announced that he will retire from his position as CEO of the Company for health-related reasons effective as of December 31, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Joseph J. DeAngelo was appointed as Director at Vertiv Holdings Co.
- Action
- appointed
- Role
- Director
Exact text from the filing
the Board of the Company increased the authorized number of directors on the Board from ten to eleven and appointed Joseph J. DeAngelo to the Board, effective immediately
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Giordano Albertazzi was appointed as Chief Operating Officer and President, Americas at Vertiv Holdings Co.
- Action
- appointed
- Role
- Chief Operating Officer and President, Americas
Exact text from the filing
The Company has also announced that Giordano Albertazzi, currently serving as President, Americas, has been appointed Chief Operating Officer and President, Americas of the Company effective immediately
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Giordano Albertazzi was appointed as Chief Executive Officer at Vertiv Holdings Co.
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
and will thereafter assume the role of Chief Executive Officer effective as of January 1, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Giordano Albertazzi was appointed as Director at Vertiv Holdings Co.
- Action
- succeed
- Role
- Director
Exact text from the filing
Mr. Albertazzi will succeed Mr. Johnson on the Board of Directors as of January 1, 2023.
View on SEC.gov
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