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Executive Officers' Separation and Hiring Costs
9 Months Ended
Sep. 27, 2014
Compensation Related Costs [Abstract]  
Executive Officers' Separation and Hiring Costs
Executive Officers’ Separation and Hiring Costs
Effective January 17, 2014, Jerry W. Burris 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 January 20, 2014. On January 30, 2014, David S. Nagle resigned from his position as Chief Operations Officer, AMI Distribution and Services. Effective May 5, 2014, Brian C. Strauss was appointed President and Chief Executive Officer and a director of the Company, and Mr. Snyder resigned from his position as Interim Chief Executive Officer. Effective July 14, 2014, Robert C. Gaydos resigned from his position as Senior Vice President, Operations and William L. Topper was appointed Executive Vice President, Operations. Effective October 14, 2014, Paul Morrisroe resigned from his position as Senior Vice President and Chief Financial Officer and Scott F. Stephens was appointed Executive Vice President and Chief Financial Officer of the Company.
The Company recorded $0.3 million and $3.1 million for the quarter and nine months ended September 27, 2014, respectively, for separation and hiring costs, including payroll taxes, certain benefits and related professional fees. For the quarter and nine months ended September 28, 2013, separation and hiring costs were $0.1 million and $1.2 million, respectively, primarily related to make-whole payments to Mr. Burris, our former President and Chief Executive Officer and Mr. Morrisroe, our former Senior Vice President and Chief Financial Officer. Pursuant to their respective employment agreements, these payments provided compensation to offset losses recognized on the sale of their respective residences in connection with relocating near our corporate headquarters.
These separation and hiring costs have been recorded as a component of “Selling, general and administrative” in the Condensed Consolidated Statements of Comprehensive (Loss) Income. As of September 27, 2014, remaining separation costs payable to the Company’s former executives of $1.1 million are accrued, which will be paid at various dates through 2016.