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) January 21, 2015
PACCAR Inc
(Exact name of registrant as specified in its charter)
| Delaware | 001-14817 | 91-0351110 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
777 106th Avenue NE, Bellevue, WA 98004
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (425) 468-7400
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 (see General Instruction A.2.):
| ¨ | 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 Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On January 21, 2015, the PACCAR Inc Board of Directors elected Beth E. Ford to the PACCAR Inc Board of Directors effective April 21, 2015.
Ms. Ford will serve as a Class I director to fill the vacancy created by the retirement of John M. Fluke Jr. on April 20, 2015. The information required by Item 5.02(d)(3) is not available at this time. There are no reportable transactions under Item 404(a) of Regulation S-K. She will receive compensation for her services in accordance with the Company’s standard compensatory arrangements for non-employee directors. These arrangements include an annual cash retainer of $100,000 and an annual restricted stock award of $130,000, both prorated for 2015; and Committee meeting fees of $5,000 per meeting. A press release announcing the Board action is attached as Exhibit 99.1 to this Report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
The following are furnished as Exhibits to this Report.
| Exhibit |
Description | |
| 99.1 | Press release of January 21, 2015 regarding Beth E. Ford | |
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.
| PACCAR Inc | ||||||
| Date: January 21, 2015 | By: | /s/ D. C. Anderson | ||||
| D. C. Anderson | ||||||
| Vice President and General Counsel | ||||||
Exhibit 99.1
| PACCAR Press Release |
PACCAR Inc Public Affairs Department P.O. Box 1518 Bellevue, WA 98009
Contact: Ken Hastings (425) 468-7530 |
FOR IMMEDIATE RELEASE
PACCAR Elects New Director
January 21, 2015, Bellevue, Washington – Ms. Beth E. Ford has been elected to the PACCAR Inc Board of Directors, effective April 21, 2015, according to Mark Pigott, PACCAR executive chairman. Ms. Ford will succeed John M. Fluke, Jr., who will retire from the Board on April 20, 2015. “PACCAR is very pleased that Beth Ford will be joining the Board. Her years of management experience in international business, logistics, and manufacturing will benefit PACCAR in its global growth,” said Mark Pigott. “The Board thanks John Fluke for his 30 years of excellent service to the company. John has provided superb judgment and counsel as a director and we will miss him.”
Ms. Ford, 50, has served since 2012 as Executive Vice President, Chief Supply Chain and Operations Officer of Land O’Lakes, Inc., a $15 billion company in the food production and agribusiness industry. In this role, she is responsible for all supply chain and operating functions from sourcing/trading and manufacturing/logistics through to customer delivery. Ms. Ford is also responsible for research and development and information technology. During her 25 year career, Ms. Ford has held operating and senior leadership positions with global companies in industries including chemicals (International Flavors & Fragrances), food and beverage (Pepsi), publishing (Scholastic and Hachette), and oil and gas (Mobil Oil). She is currently a director of Clearwater Paper Corporation.
A native of Sioux City, Iowa, Ms. Ford earned an M.B.A. from Columbia University Business School and a B.B.A. from Iowa State University. She is involved with both universities, and is on the Deming Center Board of Advisors for Columbia University Business School and the Dean’s Advisory Committee for the College of Business at Iowa State.
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced diesel engines, provides financial services and information technology, and distributes truck parts related to its principal business.
PACCAR shares are traded on the Nasdaq Global Select market, symbol PCAR, and its homepage is www.paccar.com.
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