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 AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 6, 2012
WESCO International, Inc.
(Exact name of registrant as specified in its charter)
Commission file number 001-14989
Delaware | 25-1723342 | |
(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) | |
225 West Station Square Drive | ||
Suite 700 | ||
Pittsburgh, Pennsylvania 15219 | (412) 454-2200 | |
(Address of principal executive offices) | (Registrant's telephone number, including area code) | |
N/A
(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:
[ ] 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 6, 2012, WESCO International, Inc. (the “Company”) announced that Mr. Kenneth S. Parks joined the Company as Vice President and Chief Financial Officer. Mr. Parks, age 48, served as Vice President of Finance of United Technologies Corporation for their global Fire and Security business from April 2008 to February 2012. From 2005 to April 2008, he served as Director of Investor Relations of United Technologies Corporation. He began his career in public accounting with Coopers & Lybrand. Mr. Parks will receive an annual base salary of $360,000, with a target bonus of 60% of his base salary and a bonus opportunity of up to 120% of his base salary. Mr. Parks will also receive an initial stock appreciation rights award in the amount of 7,500 shares, which will vest ratably over three years. He will be entitled to receive severance payments equal to one-year's base salary and an amount based on a prorated bonus calculation, if he is terminated by the Company without cause or if he terminates his employment for good reason. He will be bound by restrictive covenants in the form of non-competition and non-solicitation of employees during the term of his employment and for a period of two years thereafter.
Mr. Stephen A. Van Oss, who had been serving as Senior Vice President, Chief Operating Officer and as interim Chief Financial Officer since February 2012 will continue as Senior Vice President and Chief Operating Officer.
There are no and have been no transactions since the beginning of the Company's last fiscal year, or currently proposed, regarding Mr. Parks that are required to be disclosed by Item 404(a) of Regulation S-K.
On June 6, 2012, the Company issued a press release announcing that Mr. Parks joined the Company as Vice President and Chief Financial Officer. A copy of the press release is filed as Exhibit 99.1 to this report and incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibit
Exhibit 99.1 Press Release, dated June 6, 2012.
SIGNATURE
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.
June 6, 2012 | WESCO INTERNATIONAL, INC. | |||
(Date) | ||||
/s/ Stephen A. Van Oss | ||||
Stephen A. Van Oss | ||||
Senior Vice President and Chief Operating Officer | ||||
Exhibit 99.1
 | NEWS RELEASE |
WESCO International, Inc. / Suite 700, 225 West Station Square Drive / Pittsburgh, PA 15219 | |
WESCO International, Inc. Names New Chief Financial Officer
PITTSBURGH, June 6, 2012 /PRNewswire/ - WESCO International, Inc. (NYSE: WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials and advanced supply chain management and logistics services, announces the appointment of Kenneth S. Parks as its Vice President and Chief Financial Officer, effective today.
Mr. Parks, 48, joins WESCO with 27 years of experience, most recently as Vice President of Finance at United Technologies Corporation for their global Fire and Security business, which has approximately $7 billion in revenue, and includes over 40 factories, 350 branches, and 38,000 employees around the world. Previously, Mr. Parks was Director of Investor Relations and served in a number of senior financial and accounting leadership roles at United Technologies Corporation and York International. Mr. Parks began his career at Coopers & Lybrand and is a graduate of the University of Tulsa.
Mr. John J. Engel, WESCO's Chairman and CEO stated: “Ken is an excellent addition to our executive team. His global experience and strong business and financial acumen will help us accelerate execution of our One WESCO growth strategy.”
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WESCO International, Inc. (NYSE: WCC), a publicly traded Fortune 500 holding company headquartered in Pittsburgh, Pennsylvania, is a leading provider of electrical, industrial, and communications maintenance, repair and operating (“MRO”) and original equipment manufacturers (“OEM”) product, construction materials, and advanced supply chain management and logistic services. 2011 annual sales were approximately $6.1 billion. The Company employs approximately 7,300 people, maintains relationships with over 18,000 suppliers, and serves over 100,000 customers worldwide. Customers include commercial and industrial businesses, contractors, government agencies, institutions, telecommunications providers and utilities. WESCO operates seven fully automated distribution centers and approximately 400 full-service branches in North America and international markets, providing a local presence for customers and a global network to serve multi-location businesses and multi-national corporations.
# # #
The matters discussed herein may contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from expectations. Certain of these risks are set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011, as well as the Company's other reports filed with the Securities and Exchange Commission.
Contact: Dan Brailer, Vice President, Investor Relations & Corporate Affairs
WESCO International, Inc. (412) 454-4220, Fax: (412) 222-7520
http://www.wesco.com