Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ajay Kochhar departed as President and Chief Executive Officer at Li-Cycle Holdings Corp..
- Action
- will cease serving
- Role
- President and Chief Executive Officer
Exact text from the filing
on May 15, 2025, will cease serving as the Company’s President and Chief Executive Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Craig Cunningham departed as Chief Financial Officer at Li-Cycle Holdings Corp..
- Action
- ceased serving
- Role
- Chief Financial Officer
Exact text from the filing
Effective as of April 30, 2025, Mr. Craig Cunningham ceased serving as the Company’s Chief Financial Officer.
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Li-Cycle Holdings Corp. announced a restructuring with charges of approximately $264,000 affecting Arizona Spoke and Alabama Spoke recycling facilities; Toronto headquarters (approximately 119 positions, representing approximately 50% of the Company’s global workforce).
- Type
- restructuring
- Charge
- approximately $264,000
- Affected area
- Arizona Spoke and Alabama Spoke recycling facilities; Toronto headquarters
- Headcount
- approximately 119 positions, representing approximately 50% of the Company’s global workforce
Exact text from the filing
On April 30, 2025, the Board of Directors of the Company approved plans to suspend operations at the Company’s Arizona Spoke and Alabama Spoke recycling facilities, as part of its effort to optimize liquidity and support the Company’s sale process. As a result, the Company has furloughed approximately 85 employees at or related to these facilities. In addition, the Company has reduced its workforce at the corporate level by approximately 34 positions, primarily at its Toronto headquarters, effective May 1, 2025. Overall, the Company expects to eliminate approximately 119 positions, representing approximately 50% of the Company’s global workforce. The Company estimates that it will incur total charges of approximately $264,000 in connection with the workforce reduction, with the majority of these charges to be incurred as cash severance payments over the course of the next two months.
View on SEC.gov