-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TEKmumL+XkJNelF8gTD++XrliJyK8qK//KD6vs19hxtfmgH/2NZeLlTP/pLHIxvt 5mzvc686pY9elsWDdfphvA== 0001104659-08-003193.txt : 20080117 0001104659-08-003193.hdr.sgml : 20080117 20080117095502 ACCESSION NUMBER: 0001104659-08-003193 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080117 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080117 DATE AS OF CHANGE: 20080117 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GEORGIA GULF CORP /DE/ CENTRAL INDEX KEY: 0000805264 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] IRS NUMBER: 581563799 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09753 FILM NUMBER: 08534872 BUSINESS ADDRESS: STREET 1: 115 PERIMETER CENTER PLACE STREET 2: STE. 460 CITY: ATLANTA STATE: GA ZIP: 30346 BUSINESS PHONE: 7703954500 MAIL ADDRESS: STREET 1: 115 PERIMETER CENTER PLACE STREET 2: STE. 460 CITY: ATLANTA STATE: GA ZIP: 30346 8-K 1 a08-2187_18k.htm 8-K

 

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):  January 17, 2008 (January 17, 2008)

 

GEORGIA GULF CORPORATION
(Exact name of registrant as specified in its charter)

 

Delaware

 

1-09753

 

58-1563799

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

 

 

 

 

115 Perimeter Center Place, Suite 460, Atlanta, GA

 

30346

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:   (770) 395 - 4500

 

 

(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:

 

o                        Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o                        Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o                        Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))

 

o                        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.

 

On January 17, 2008, Georgia Gulf Corporation announced that it had hired Gregory C. Thompson, age 52, to become chief financial officer as more fully described in the press release filed as Exhibit 99.1 hereto, which is incorporated by reference.  Mr. Thompson’s base salary will be $430,000 per annum and his annual incentive bonus target will be 65% of his base salary ($279,500), with a minimum payout of 60% ($167,700) and a maximum payout of up to 200% ($559,000) of target depending on the Company’s attainment of its financial goals.  He will be awarded a combination of restricted stock and stock options with a target value of $500,000 as of his date of employment.  He will be provided with a car, receive a supplemental retirement benefit and an annual cash perquisites allowance of $25,000, be reimbursed for relocation expenses, and receive a cash relocation bonus of $50,000.  In addition, if he is terminated within two years of his employment date, he is entitled to his base salary and bonus until the second anniversary of his employment date unless he is terminated for Cause (as defined in the Company’s change of control severance plan).  Any such payments will be offset to the extent Mr. Thompson is eligible to receive benefits under the Company’s change of control severance plan.

 

Item 7.01

 

Regulation FD Disclosure.

 

 

 

 

 

 

 

 

 

The information included under Item 5.02 is incorporated herein by reference.

 

 

 

 

 

 

 

Item 9.01

 

Financial Statements and Exhibits.

 

 

 

 

 

 

 

(d)

 

Exhibits

 

.

 

Number

 

Exhibit

 

 

 

99.1

 

Press Release, dated January 17, 2008.

 

2



 

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.

 

 

GEORGIA GULF CORPORATION

 

 

 

 

 

By:

 /s/ Joel I. Beerman

 

 

Name: Joel I. Beerman

 

Title:  Vice President, General Counsel and Secretary

Date: January 17, 2008

 

 

3


EX-99.1 2 a08-2187_1ex99d1.htm PRESS RELEASE DATED JANUARY 17, 2008

Exhibit 99.1

 

NEWS

 

 

FOR IMMEDIATE RELEASE

January 17, 2008

 

Georgia Gulf Appoints New CFO

 

Georgia Gulf Corporation (GGC: NYSE) today announced that Gregory C. Thompson will become the Company’s Chief Financial Officer immediately following the filing of its 2007 Form 10-K, which is expected to be filed by February 29, 2008. Mark Buckis, Vice President & Corporate Controller, will continue to serve as interim CFO until that time.

 

Mr. Thompson has served as Senior Vice President and Chief Financial Officer of Invacare Corporation (IVC: NYSE) since 2002. During his tenure with Invacare, Mr. Thompson played a key role in the development and successful implementation of a comprehensive global cost reduction program, along with helping to integrate several strategic acquisitions. In addition, Mr. Thompson has several prior years of experience as the CFO of a public company, serving previously as the CFO of Sensormatic Electronics Corporation, where he helped establish and successfully execute a turnaround plan. He is a Certified Public Accountant with a BS Degree in accounting from the Virginia Polytechnic Institute and State University.

 

“Greg’s experience with cost reduction programs, debt management and acquisition integration will enable him to make a strong contribution on the Georgia Gulf management team,” commented Ed Schmitt, Chairman, President and CEO. Mr. Thompson will manage all finance and accounting functions including investor relations.

 

Georgia Gulf Corporation is a leading, integrated North American manufacturer of two chemical lines, chlorovinyls and aromatics, and manufactures vinyl-based building and home improvement products. The Company’s vinyl-based building and home improvement products, marketed under Royal Group brands, include window and door profiles, mouldings, siding, pipe and pipe fittings, deck, fence and rail and outdoor storage buildings. Georgia Gulf, headquartered in Atlanta, Georgia, has manufacturing facilities located throughout North America to provide industry-leading service to customers.

 

Safe Harbor

 

This news release contains forward-looking statements subject to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are based on management’s assumptions regarding business conditions, and actual results may be materially different.  Risks and uncertainties inherent in these assumptions include, but are not limited to difficulties in integrating the recently acquired business of Royal Group, Inc., uncertainties relating to Royal Group’s business and liabilities, uncertainties regarding asset sales, synergies, operating efficiencies and competitive conditions, future global economic conditions, economic conditions in the industries to which our products are sold, industry production capacity, raw materials and energy costs

 



 

and other factors discussed in the Securities and Exchange Commission filings of Georgia Gulf Corporation, including our annual report on Form 10-K for the year ended December 31, 2006.

 

CONTACT:

 

Mark Badger

Georgia Gulf Corporation

Corporate Communications

905-652-6210/770-395-4524

 

Angie Tickle

Georgia Gulf Corporation

Investor Relations

770-395-4520

 


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