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
June 24, 2014
Date of Report
Date of earliest event reported
BLUCORA, INC.
(Exact name of Registrant as specified in its charter)
| DELAWARE | 000-25131 | 91-1718107 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
10900 N.E. 8th Street, Suite 800
Bellevue, Washington 98004
(Address of Principal Executive Offices)
425-201-6100
Registrant’s Telephone Number, Including Area Code
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 communication 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 communication 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.
On June 25, 2014, Blucora, Inc. announced that Bernard Luthi will assume the role of President of Blucora’s subsidiary Monoprice, Inc. Mr. Luthi will oversee the Monoprice e-commerce business beginning in July 2014. Mr. Luthi joins Monoprice from Buy.com, Inc. where he has served as Chief Operating Officer and Chief Marketing Officer since 2012. Prior to joining Buy.com, Mr. Luthi was Senior Vice President, Marketing, Merchandising, Web Management, and Customer Service for Newegg, Inc. Mr. Luthi worked at Newegg from 2006 to 2011, and he also previously held roles in marketing and category management at PC Mall, Inc. and Ingram Micro, Inc. Mr. Luthi has a B.A. in Business Administration from California State University, Los Angeles. A press release announcing the appointment of Mr. Luthi is filed as Exhibit 99.1 to this Current Report on Form 8-K.
Mr. Luthi will replace the preceding Monoprice President, Ajay Kumar, who provided his notice of resignation on June 24, 2014. Per the terms of his agreements with Blucora, Mr. Kumar will be entitled to severance of 12 months of his base salary plus the payment of 12 months of COBRA costs. He will also be entitled to receive payment under the terms of the Restricted Cash Agreement, which was entered into in connection with Blucora’s acquisition of Monoprice, of the deferred amount that Mr. Kumar would otherwise have been entitled to receive as the result of the 2013 sale of Monoprice to Blucora.
Item 9.01 Financial Statements and Exhibits
| 99.1 | Press release dated June 25, 2014 | |
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SIGNATURES
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.
Date: June 25, 2014
| BLUCORA, INC. | ||
| By: | /s/ Linda Schoemaker | |
| Linda Schoemaker | ||
| General Counsel and Secretary | ||
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EXHIBIT INDEX
| Exhibit No. |
Description | |
| EX-99.1 | Press release dated June 25, 2014 | |
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Exhibit 99.1
Blucora Announces Appointment of Bernard W. Luthi as President of Monoprice
BELLEVUE, Wash. – June 25, 2014 – Blucora, Inc. (NASDAQ: BCOR) today announced the appointment of Bernard W. Luthi as President of its Monoprice subsidiary. As President, Mr. Luthi will oversee the operations of the Monoprice e-commerce business, which sells self-branded consumer electronics and accessories.
“We are excited to welcome Bernard to the Blucora team,” said Bill Ruckelshaus, President and Chief Executive Officer of Blucora. “Bernard brings deep expertise in consumer electronics and online retailing and is uniquely positioned to lead Monoprice in the next phase of expansion.”
Mr. Luthi has a distinguished track record including 20 years in technology, marketing, and e-commerce. He joins Monoprice from Buy.com/Rakuten.com, where he served as Chief Operating Officer and Chief Marketing Officer. Prior to Buy.com, Luthi drove customer engagement and visibility for Newegg.com and previously held positions at PC Mall and Ingram Micro. He graduated with a Bachelors of Arts in Business Administration from California State University with an emphasis on marketing.
Mr. Luthi will succeed the previous Monoprice President, Ajay Kumar, who has submitted his resignation and will pursue other opportunities. “I would like to thank Ajay for his dedication to building the Monoprice business and for his leadership during its integration into Blucora.” said Mr. Ruckelshaus.
About Blucora®
Blucora, Inc. (NASDAQ: BCOR) operates a diverse group of Internet businesses. Its mission is to deliver long-term value to its customers, partners, and shareholders through financial discipline, operational expertise, and technology innovation. Recently named one of Fortune® Magazine’s 100 Fastest-Growing Companies, Blucora’s online businesses reach millions of users worldwide every day. Blucora is headquartered in Bellevue, Washington. For more information, please visit www.Blucora.com. Follow and subscribe to Blucora on Twitter, LinkedIn, and YouTube.
About Monoprice®
Based in Rancho Cucamonga, CA, Monoprice, Inc. is a rapidly growing e-commerce business, specializing in high-quality yet affordable consumer electronics and tech products, including a wide variety of cables, home theater equipment, networking and IT gear, mobile accessories, PC and gaming accessories, and pro audio equipment. Established in 2002, Monoprice offers more than 5,000 of its own branded products via its website www.Monoprice.com. The company has built its stellar brand reputation upon customer word of mouth, the consistent ability to deliver premium quality products at prices far below other national brands, and outstanding customer service. More information about Monoprice may be found at www.Monoprice.com. Follow us on Facebook, Twitter, LinkedIn, Google+, Spiceworks, and YouTube.
Blucora
Stacy Ybarra, 425-709-8127
stacy.ybarra@blucora.com