Axalta appoints Chris Villavarayan as CEO effective Jan 1, 2023; Rakesh Sachdev becomes Board Chair

Axalta Coating Systems Ltd.

Chris Villavarayan appointed CEO and President effective Jan 1, 2023; succeeds Rakesh Sachdev, who steps down as interim CEO.
Rakesh Sachdev appointed non-executive Board Chair; Bill Cook remains director and becomes Compensation Committee Chair.
Villavarayan receives $1M base salary, 125% target annual bonus, and $5.65M LTI target for 2023.
Severance includes 2x base+bonus on non-CIC termination; 3x base+bonus plus accelerated vesting on CIC termination.

item 5.02 item 7.01 item 9.01

Executive movements

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

Appointed

Chris Villavarayan

Director

AXTA · Axalta Coating Systems Ltd.

Effective: 2023-01-01
Filed: November 16, 2022, 6:59 PM ET

appointed Mr. Villavarayan as a director

Departed

Rakesh Sachdev

Interim Chief Executive Officer and President

AXTA · Axalta Coating Systems Ltd.

Effective: 2023-01-01
Successor: Chris Villavarayan
Filed: November 16, 2022, 6:59 PM ET

Mr. Villavarayan, age 52, succeeds Rakesh Sachdev, who notified the Company on November 11, 2022 that he is stepping down as Interim Chief Executive Officer and President, effective as of immediately prior to the Appointment Time.

Appointed

Chris Villavarayan

Chief Executive Officer and President

AXTA · Axalta Coating Systems Ltd.

Effective: 2023-01-01
Filed: November 16, 2022, 6:59 PM ET

appointed Chris Villavarayan as the Company’s Chief Executive Officer and President, effective as of January 1, 2023

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Chris Villavarayan was appointed as Director at Axalta Coating Systems Ltd..

Action: appointed
Role: Director

Exact text from the filing

appointed Mr. Villavarayan as a director

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Rakesh Sachdev departed as Interim Chief Executive Officer and President at Axalta Coating Systems Ltd..

Action: stepping down
Role: Interim Chief Executive Officer and President

Exact text from the filing

Mr. Villavarayan, age 52, succeeds Rakesh Sachdev, who notified the Company on November 11, 2022 that he is stepping down as Interim Chief Executive Officer and President, effective as of immediately prior to the Appointment Time.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Chris Villavarayan was appointed as Chief Executive Officer and President at Axalta Coating Systems Ltd..

Action: appointed
Role: Chief Executive Officer and President

Exact text from the filing

appointed Chris Villavarayan as the Company’s Chief Executive Officer and President, effective as of January 1, 2023

View on SEC.gov

Axalta Coating Systems Ltd. filing history →

Source: SEC EDGAR

accession 0001616862-22-000045

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