Crane names Aaron Saak CEO of Crane NXT; spin-off on track for early April 2023

Crane NXT, Co.

Aaron Saak appointed President and CEO of Crane NXT, the Payment & Merchandising Technologies business to be spun off.
Separation expected to close in early April 2023; Form 10 Registration Statement to be available before year-end.
Saak receives $800k base salary, $700k sign-on bonus, $2.2M in RSUs, and minimum $4M equity in 2023.
Saak previously led Gilbarco Veeder-Root, a $2B revenue global technology firm serving retail convenience markets.
Crane NXT expected to generate ~$1.4B sales with a ~30% pre-corporate Adjusted EBITDA margin this year.

item 5.02 item 8.01 item 9.01

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Appointed

Aaron Saak

Chief Executive Officer

CXT · Crane NXT, Co.

Effective: 2022-10-05
Filed: October 20, 2022, 7:59 PM ET

On October 5, 2022, Aaron Saak, 49 years old, was appointed to serve as Chief Executive Officer for the Crane NXT organization.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Aaron Saak was appointed as Chief Executive Officer at Crane NXT, Co..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On October 5, 2022, Aaron Saak, 49 years old, was appointed to serve as Chief Executive Officer for the Crane NXT organization.

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Crane NXT, Co. filing history →

Source: SEC EDGAR

accession 0001193125-22-265693

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