UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 29, 2022, the board of directors of CC Neuberger Principal Holdings III (the "Company") appointed Mr. Matthew Mannelly as a new director of the Company. Mr. Mannelly has been appointed to serve on the audit committee, the nominating committee and the compensation committee of the Company, with such appointment effective upon his becoming a director of the Company.
Mr. Mannelly currently sits on the boards of SpartanNash Company (NASDAQ: SPTN), where he has served since 2018, and the Hope For Children Foundation, where he has served since 2016. Mr. Mannelly was formerly the Chief Executive Officer and a Director of Prestige Brands, Inc., a distributor of healthcare and household cleaning products, a position he held from 2009 to 2015. Prior to his position at Prestige Brands, Inc., Mr. Mannelly served as Chief Executive Officer of Cannondale Bicycle from 2003 to 2009. Mr. Mannelly also previously served on the boards of Performance Sports Group (NYSE: PSG) from 2013 to 2016 and Collier Creek LLC from 2018 to 2020. Mr. Mannelly has over 35 years of experience in the consumer products industry and has held management positions at Gatorade, Nike and the U.S. Olympic Committee. Mr. Mannelly holds a B.S. degree in Economics from Boston College and a Master of Business Administration from the University of North Carolina, Chapel Hill.
The board of directors of the Company has affirmatively determined that Mr. Mannelly meets the applicable standards for an independent director under both the rules of the New York Stock Exchange and Rule 10A-3 under the Securities Exchange Act of 1934.
Mr. Mannelly will not be compensated by the Company for his services as a director and has not entered into an employment agreement with the Company.
In connection with this appointment, Mr. Mannelly is expected to enter into an indemnity agreement and a letter agreement with the Company on the same terms as the indemnity agreements and letter agreements entered into by the directors and officers of the Company at the time of the Company’s initial public offering.
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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.
Dated: May 2, 2022
| CC NEUBERGER PRINCIPAL HOLDINGS III | ||
| By: | /s/ Matthew Skurbe | |
| Name: Matt Skurbe | ||
| Title: Chief Financial Officer | ||