---
schema_version: "secwatch.filing_event.v1"
accession: "0001616862-22-000045"
form_type: "8-K"
ticker: "AXTA"
cik: "0001616862"
company_name: "Axalta Coating Systems Ltd."
filed_at: "2022-11-16T23:59:59+00:00"
generated_at: "2026-06-21T17:29:24.036512+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001616862-22-000045
- form_type: 8-K
- ticker: AXTA
- cik: 0001616862
- company_name: Axalta Coating Systems Ltd.
- filed_at: 2022-11-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616862/000161686222000045/0001616862-22-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616862/000161686222000045/axta-20221111.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001616862-22-000045
- JSON: https://secwatch.observer/filing/0001616862-22-000045.json
- Plain text: https://secwatch.observer/filing/0001616862-22-000045.txt

## Key facts
- Executive change
  Chris Villavarayan was appointed as Director at Axalta Coating Systems Ltd..
  - Action: appointed
  - Role: Director
  source text: appointed Mr. Villavarayan as a director
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616862/000161686222000045/0001616862-22-000045-index.htm
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616862/000161686222000045/0001616862-22-000045-index.htm
- Executive change
  Chris Villavarayan was appointed as Chief Executive Officer and President at Axalta Coating Systems Ltd..
  - Action: appointed
  - Role: Chief Executive Officer and President
  source text: appointed Chris Villavarayan as the Company’s Chief Executive Officer and President, effective as of January 1, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616862/000161686222000045/0001616862-22-000045-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.