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Executive Officers' Separation and Hiring Costs
9 Months Ended
Sep. 29, 2012
Compensation Related Costs [Abstract]  
Executive Officers' Separation and Hiring Costs
Executive Officers’ Separation and Hiring Costs
On February 20, 2012, David S. Nagle was appointed President, AMI Distribution. On February 24, 2012, Stephen E. Graham resigned from his position as Senior Vice President – Chief Financial Officer and Secretary of the Company. On February 27, 2012, the Company entered into an employment agreement with Paul Morrisroe, pursuant to which he agreed to serve as the Company’s Senior Vice President, Chief Financial Officer and Secretary. The Company’s Senior Vice President of Human Resources, John F. Haumesser, resigned his position effective April 19, 2012 and was succeeded by James T. Kenyon, who was named Senior Vice President and Chief Human Resources Officer on June 7, 2012.
The Company recorded $2.9 million for the nine months ended September 29, 2012 for separation and hiring costs, including payroll taxes, certain benefits and related professional fees. These separation and hiring costs have been recorded as a component of selling, general and administrative expenses. Mr. Graham’s and Mr. Haumesser's separation costs will be paid in accordance with their employment agreements. As of September 29, 2012, remaining separation costs payable to the Company’s former executives of $4.3 million are accrued, which will be paid at various dates through 2014.
On June 2, 2011, Thomas N. Chieffe resigned from his position as President and Chief Executive Officer and as a director of the Company, and Dana R. Snyder, a director of the Company, was appointed Interim Chief Executive Officer. On June 29, 2011, Warren J. Arthur resigned from his position as Senior Vice President of Operations of the Company. On August 1, 2011, Robert Gaydos was appointed Senior Vice President, Operations. On September 12, 2011, Jerry W. Burris was appointed President and Chief Executive Officer, and Mr. Snyder resigned from his position as Interim Chief Executive Officer. The Company recorded $0.8 million and $6.3 million for separation costs, including payroll taxes, certain benefits and related professional fees as a component of selling, general and administrative expenses for the quarter and nine months ended October 1, 2011, respectively.