UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): March 12, 2012
Imation
Corp.
(Exact
name of registrant as specified in its charter)
DELAWARE |
1-14310 |
41-1838504 |
||
(State or other jurisdiction |
(Commission File Number) |
(IRS Employer |
1 IMATION WAY |
55128 |
|
(Address of principal executive offices) |
(Zip Code) | |
Registrant’s telephone number, including area code: |
(651) 704-4000 |
None |
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On March 12, 2012, the Board of Directors of Imation Corp. (the “Company”) elected David B. Stevens as a Class I member of the Board of Directors, effective as of March 12, 2012, with a term expiring at the annual meeting of shareholders to be held in 2012. Mr. Stevens will serve on the Compensation Committee and the Nominating and Governance Committee of the Board of Directors.
Mr. Stevens has been the Chief Technology Officer of Brocade Communications Systems, Inc. (a provider of networking solutions for data centers, enterprises and service providers) since September 2008. In 2011, he also assumed responsibility for Corporate Development activities, becoming Vice President, Corporate Development. From October 2005 to June 2008, Mr. Stevens was co-founder and Chief Executive Officer of Palo Alto Networks, Inc. (a privately held company that develops next-generation firewall products). Mr. Stevens previously served as the Vice President and CTO of Brocade Communications Systems, Inc. having joined the company through the acquisition of Rhapsody Networks, where he served as the founding Chief Executive Officer and Vice President of Business Development. Prior to that, Stevens served in senior management positions at Atmosphere Networks, Nortel, Bay Networks, and SynOptics Communications. Mr. Stevens brings to our Board over 20 years of technology experience in the enterprise networking, security, computer, and data storage industries.
Mr. Stevens will be compensated for his service on the Board of Directors pursuant to the Company’s Director Compensation Program, as amended, a copy of which is filed as Exhibit 10.1 to the Company’s Form 10-Q for the quarter ended June 30, 2011 and incorporated herein by reference. Other than as described herein, there are no arrangements or understandings between Mr. Stevens and any other persons pursuant to which Mr. Stevens was selected as Directors of the Company. Mr. Stevens has no direct or indirect material interest in any currently proposed transaction to which the Company is to be a participant in which the amount involved exceeds $120,000, nor has Mr. Stevens had a direct or indirect material interest in any such transaction since the beginning of the Company’s last fiscal year.
A press release, dated March 13, 2012, announcing Mr. Stevens’ election as a Directors is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release dated March 13, 2012 announcing Mr. Stevens’ election to the Board of Directors
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Imation Corp. |
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(REGISTRANT) |
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Date: | March 13, 2012 | By: |
/s/ Paul R. Zeller |
|
Paul R. Zeller |
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Senior Vice President and Chief Financial Officer |
EXHIBIT INDEX
Exhibit Number |
Description | |
99.1 | Press release dated March 13, 2012 announcing Mr. Stevens’ election to the Board of Directors |
Exhibit 99.1
Imation Names Brocade CTO David B. Stevens to Board of Directors
OAKDALE, Minn.--(BUSINESS WIRE)--March 13, 2012--Imation Corp. (NYSE: IMN), a global scalable storage and data security company, today announced that David B. Stevens has been elected to the Company’s Board of Directors. Stevens is chief technology officer and vice president of corporate development at Brocade, a provider of networking solutions for data centers, enterprises and service providers.
“David Stevens’ deep experience in creating and growing cloud computing, data storage and security businesses aligns with Imation’s move to strategic growth platforms in scalable storage and data security solutions. We are extremely pleased to add his insights and experience to our Board,” said L. White Matthews, III, Non-Executive Chairman of the Board, Imation Corp.
Stevens has more than 20 years of experience in the enterprise networking, security, computer, and data storage industries. He has been the chief technology officer of Brocade since September 2008. In 2011, he also assumed responsibility for corporate development. From October 2005 to June 2008, Stevens was co-founder and CEO of Palo Alto Networks, Inc. He served as the vice president and CTO of Brocade from 2003-2004, having joined the company through the acquisition of Rhapsody Networks, where he was founding chief executive officer and vice president of business development. Prior to that, Stevens served in senior management positions at Atmosphere Networks, Nortel, Bay Networks, and SynOptics Communications. Stevens holds both a Bachelor of Science and Master of Science in electrical engineering from the University of Virginia.
Stevens was elected as a Class I member of the Imation Board of Directors, effective as of March 12, 2012, with a term to expire at the Annual Meeting of Shareholders to be held in May 2012. He has been nominated by the Board to stand for reelection at that meeting. Stevens will serve on the Compensation Committee and the Nominating and Governance Committee of the Board of Directors.
About Imation
Imation is a global scalable storage and data security company. Our portfolio includes tiered storage and security offerings for business, and products designed to manage audio and video information in the home. Imation reaches customers in more than 100 countries through a powerful global distribution network and well recognized brands. For more information please visit, www.imation.com.
Imation and the Imation logo are trademarks of Imation Corp. and its subsidiaries. All other trademarks are property of their respective owners.
CONTACT:
Imation Corp.
Mary Rawlings-Taylor, 651-704-6796
mjrawlings-taylor@imation.com