CPS Technologies CEO McCormack resigns; CFO Griffith named acting president

CPS TECHNOLOGIES CORP/DE/

Michael McCormack resigned as President and CEO effective April 21, 2023; not related to any disagreement with the Company.
CFO Charles K. Griffith Jr. appointed acting president; Board initiates search for permanent CEO.
Griffith has been CFO since April 2019; receives $200K salary plus discretionary bonus ($95K for 2022 performance).
Under McCormack's leadership, CPS achieved record revenues and operating income; management expects another record year in 2023.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Michael E. McCormack II

President and Chief Executive Officer

CPSH · CPS TECHNOLOGIES CORP/DE/

Effective: 2023-04-21
Successor: Charles K. Griffith, Jr.
Filed: April 24, 2023, 7:59 PM ET

On April 19, 2023, Michael E. McCormack II, the President and Chief Executive Officer of CPS Technologies Corp. (the “Company”) resigned from the Company, with an effective date of April 21, 2023.

Role change (interim)

Charles K. Griffith, Jr.

acting president

CPSH · CPS TECHNOLOGIES CORP/DE/

Effective: 2023-04-21
Filed: April 24, 2023, 7:59 PM ET

the Board has appointed Charles K. Griffith, Jr., the Company’s current Chief Financial Officer, to serve as the acting president of the Company as the Board commences its search for a president and chief executive officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael E. McCormack II resigned as President and Chief Executive Officer at CPS TECHNOLOGIES CORP/DE/.

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

On April 19, 2023, Michael E. McCormack II, the President and Chief Executive Officer of CPS Technologies Corp. (the “Company”) resigned from the Company, with an effective date of April 21, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Charles K. Griffith, Jr. was appointed as acting president at CPS TECHNOLOGIES CORP/DE/.

Action: appointed
Role: acting president

Exact text from the filing

the Board has appointed Charles K. Griffith, Jr., the Company’s current Chief Financial Officer, to serve as the acting president of the Company as the Board commences its search for a president and chief executive officer.

View on SEC.gov

CPS TECHNOLOGIES CORP/DE/ filing history →

Source: SEC EDGAR

accession 0001437749-23-010836

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