UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in its Charter)
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| (Address of Principal Executive Offices) | (Zip Code) | |||
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 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)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading |
Name of exchange | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On August 13, 2020, Olivier Leonetti notified Zebra Technologies Corporation (the “Company) of his decision to resign from his position as Senior Vice President, Chief Financial Officer to pursue another opportunity, effective August 28, 2020. Mr. Leonetti’s decision to resign is not related to any disagreement with the Company or its auditors on any matter relating to the Company’s operations, policies or practices.
The Board of Directors has appointed Nathan Winters as Acting Chief Financial Officer, effective August 28, 2020, until a permanent Chief Financial Officer is appointed. Mr. Winters, 41, has served as Vice President of Corporate Financial Planning & Analysis and Business Operations of the Company since April 2018. Prior to joining the Company, Mr. Winters most recently served as the Chief Financial Officer, Global Supply Chain at GE Healthcare from April 2016 to March 2018. In addition to that position at GE Healthcare, he held the position of Chief Financial Officer, Life Science BioProcess (April 2014 to March 2016) and previously held various finance positions of growing levels of responsibility at GE Healthcare and General Electric. There are no family relationships between Mr. Winters and any director or executive officer of the Company, and there are no related party transactions between the Company and Mr. Winters that would require disclosure under Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.
In connection with his appointment as Acting Chief Financial Officer, Mr. Winters’ salary will increase $10,000 per month starting on August 28, 2020 and end on the Company’s appointment of a new Chief Financial Officer. In addition, he will receive a grant of time-vested restricted stock with a grant date fair value equal to $150,000 and annual vesting in one-third increments on each anniversary of the grant date.
On August 18, 2020, the Company issued a press release announcing Mr. Leonetti’s resignation and Mr. Winters’ appointment. A copy of the press release is attached to this Current Report as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number |
Description of Exhibits | |
| 99.1 | Registrant’s Press Release dated August 18, 2020 | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL) | |
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.
| ZEBRA TECHNOLOGIES CORPORATION | ||||||||
| Date: August 18, 2020 | By: | /s/ Cristen Kogl |
||||||
| Cristen Kogl | ||||||||
| SVP, General Counsel | ||||||||
EXHIBIT INDEX
| Exhibit Number |
Description of Exhibits | |
| 99.1 | Registrant’s Press Release dated August 18, 2020 | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL) | |
Exhibit 99.1
ZEBRA TECHNOLOGIES NAMES ACTING CFO
Olivier Leonetti departing for new role in non-competing industry
LINCOLNSHIRE, Ill. – Aug. 18, 2020 – Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, today announced that Nathan Winters has been named acting Chief Financial Officer (CFO) effective Aug. 28, 2020. Olivier Leonetti, our current CFO, will depart effective Aug. 28, 2020 to take on a new role outside the company.
Winters has been the company’s Vice President of Corporate Financial Planning & Analysis and Business Operations since 2018 and will hold the CFO position as Zebra conducts a search for a new CFO. Prior to Zebra, Winters served in financial roles for GE for more than 16 years where he held multiple CFO positions, most recently serving as CFO of GE Healthcare Global Supply Chain.
“Olivier has been a key member of our executive leadership team, enabling Zebra’s growth and advancing our Enterprise Asset Intelligence vision. During his tenure, he notably helped develop a high-caliber finance organization and improved our overall financial profile. We are thankful for his contributions to Zebra and wish him well in his new endeavors,” said Anders Gustafsson, Chief Executive Officer of Zebra Technologies. “We are happy to have such strong talent in Nathan to serve in the interim role, and I’m confident in his ability to maintain our momentum.”
“I am grateful for the opportunity to be a part of Zebra’s success over the past four years,” said Leonetti. “A strong balance sheet, a focus on strategic profitable growth, and a world-class organization of innovative and talented employees has positioned Zebra for a continued, bright future.”
ABOUT ZEBRA TECHNOLOGIES
Zebra (NASDAQ: ZBRA) empowers the front line in retail/ecommerce, manufacturing, transportation and logistics, healthcare, public sector and other industries to achieve a performance edge. With more than 10,000 partners across 100 countries, we deliver industry-tailored, end-to-end solutions to enable every asset and worker to be visible, connected and fully optimized. Our market-leading solutions elevate the shopping experience, track and manage inventory as well as improve supply chain efficiency and patient care. In 2020, Zebra made Forbes Global 2000 list for the second consecutive year and was listed among Fast Company’s Best Companies for Innovators. For more information, visit www.zebra.com or sign up for news alerts. Participate in our Your Edge blog and follow us on LinkedIn, Twitter and Facebook, and check out our Story Hub: Zebra Perspectives.
Investor Contact:
Mike Steele, CFA, IRC
Zebra Technologies
Vice President, Investor Relations
+1.847.793.6707
msteele@zebra.com
Media Contact:
Therese Van Ryne
Zebra Technologies
Director, Global Public Relations
+1.847.370.2317
therese.vanryne@zebra.com
ZEBRA and the stylized Zebra head are trademarks of Zebra Technologies Corporation, registered in many jurisdictions worldwide. All other trademarks are the property of their respective owners. ©2020 Zebra Technologies Corp. and/or its affiliates.
Document and Entity Information |
Aug. 13, 2020 |
|---|---|
| Cover [Abstract] | |
| Entity Registrant Name | ZEBRA TECHNOLOGIES CORP |
| Amendment Flag | false |
| Entity Central Index Key | 0000877212 |
| Document Type | 8-K |
| Document Period End Date | Aug. 13, 2020 |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 000-19406 |
| Entity Tax Identification Number | 36-2675536 |
| Entity Address, Address Line One | 3 Overlook Point |
| Entity Address, City or Town | Lincolnshire |
| Entity Address, State or Province | IL |
| Entity Address, Postal Zip Code | 60069 |
| City Area Code | 847 |
| Local Phone Number | 634-6700 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Class A Common Stock, par value $.01 per share |
| Trading Symbol | ZBRA |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |