KE divests AT&M business for $24.3M cash; VP Thyen departs with $260K transition

Kimball Electronics, Inc.

Closed sale of AT&M subsidiary to Averna on July 31, 2024 for ~$24.3M in cash initial consideration.
Proceeds to fund organic growth, debt reduction, and share repurchases.
VP Christopher Thyen left effective July 31; not due to disagreement; eligible for $260K cash incentive.
Divestiture allows KE to focus on core Electronics Manufacturing Services (EMS) operations.
AT&M had been classified as held for sale in May 2024.

item 1.01 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

Christopher J. Thyen

Vice President, New Platforms

KE · Kimball Electronics, Inc.

Effective: 2024-07-31
Filed: August 1, 2024, 7:59 PM ET

Effective as of the July 31, 2024 closing of the Agreement and the Company’s divestiture of the AT&M business, Christopher J. Thyen, Vice President, New Platforms, became affiliated with Averna and is no longer employed by Kimball Electronics.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher J. Thyen departed as Vice President, New Platforms at Kimball Electronics, Inc..

Action: departed
Role: Vice President, New Platforms

Exact text from the filing

Effective as of the July 31, 2024 closing of the Agreement and the Company’s divestiture of the AT&M business, Christopher J. Thyen, Vice President, New Platforms, became affiliated with Averna and is no longer employed by Kimball Electronics.

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Kimball Electronics, Inc. filing history →

Source: SEC EDGAR

accession 0001606757-24-000020

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