Americold terminates CEO Fred Boehler; appoints George Chappelle interim; Q3 rev +42.5% to $708.8M

AMERICOLD REALTY TRUST

CEO Fred Boehler terminated without cause; George Chappelle (ex-Tyson Foods) named Interim CEO; Board expands from 8 to 10 with three new trustees.
Q3 total revenue $708.8M (+42.5% YoY); net income $5.3M ($0.02 diluted EPS); Core FFO $0.23/sh; AFFO $0.27/sh.
Global Warehouse same-store NOI decreased 5.1% YoY; FY2021 AFFO guidance maintained at $1.15-$1.20/sh.
Completed acquisitions: ColdCo ($20.5M) in August and Newark Facility Management ($376.5M) in September.
Boehler severance: 2x base salary plus target bonus over 24 months, health benefits 18 months, accelerated equity vesting.

item 2.02 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.

Departed

Fred Boehler

Trustee

COLD · AMERICOLD REALTY TRUST

Effective: 2021-11-02
Filed: November 3, 2021, 7:59 PM ET

Mr. Boehler also resigned as a Trustee of the Board of Trustees.

Appointed (interim)

George F. Chappelle Jr.

Interim Chief Executive Officer

COLD · AMERICOLD REALTY TRUST

Effective: 2021-11-02
Filed: November 3, 2021, 7:59 PM ET

On November 2, 2021, the Board appointed George F. Chappelle Jr. as the Company’s Interim Chief Executive Officer.

Departed

Fred Boehler

President and Chief Executive Officer

COLD · AMERICOLD REALTY TRUST

Effective: 2021-11-02
Successor: George F. Chappelle Jr.
Filed: November 3, 2021, 7:59 PM ET

On November 2, 2021, the Board of Trustees of the Company (the “Board”) terminated Mr. Boehler without cause from his position as President and Chief Executive Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Fred Boehler resigned as Trustee at AMERICOLD REALTY TRUST.

Action: resigned
Role: Trustee

Exact text from the filing

Mr. Boehler also resigned as a Trustee of the Board of Trustees.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

George F. Chappelle Jr. was appointed as Interim Chief Executive Officer at AMERICOLD REALTY TRUST.

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

On November 2, 2021, the Board appointed George F. Chappelle Jr. as the Company’s Interim Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Fred Boehler was terminated as President and Chief Executive Officer at AMERICOLD REALTY TRUST.

Action: terminated
Role: President and Chief Executive Officer

Exact text from the filing

On November 2, 2021, the Board of Trustees of the Company (the “Board”) terminated Mr. Boehler without cause from his position as President and Chief Executive Officer of the Company.

View on SEC.gov

AMERICOLD REALTY TRUST filing history →

Source: SEC EDGAR

accession 0001628280-21-021459

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