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): September 11, 2017
ACTUANT
CORPORATION
(Exact
name of Registrant as specified in its charter)
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Wisconsin |
1-11288 |
39-0168610 |
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(State or other |
(Commission File Number)
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(IRS Employer Identification No.) |
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N86 W12500 Westbrook Crossing |
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Menomonee Falls, Wisconsin 53051 |
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Mailing address: P.O. Box 3241, Milwaukee, Wisconsin 53201 |
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(Address of principal executive offices) (Zip Code) |
Registrant’s
telephone number, including area code: (262) 293-1500
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 (see General Instruction A.2. below):
⃞ 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))
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.
Stephen J. Rennie, Executive Vice President, Industrial will no longer be responsible for leading the Industrial Segment effective September 14, 2017 and will be leaving the Company. A press release announcing Mr. Rennie’s departure is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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.
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ACTUANT CORPORATION |
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| Date: |
September 15, 2017 |
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/s/ Rick T. Dillon |
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Name: |
Rick T. Dillon |
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Title: |
Executive Vice President and Chief Financial Officer |
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Exhibit 99.1
Actuant Announces Leadership Consolidation
MILWAUKEE--(BUSINESS WIRE)--September 14, 2017--Actuant Corporation (NYSE:ATU) today announced a change to its executive leadership structure as part of its ongoing plan to drive profitable growth.
The Company has made the decision to consolidate the executive leadership of the Energy and Industrial segments to drive further scale and leverage across the organization. On an interim basis, Randal W. Baker, President and Chief Executive Officer, will lead the combined segments. The Company will conduct a comprehensive search for a permanent replacement. In conjunction with this consolidation, Stephen J. Rennie will be leaving the organization.
As a result of this segment combination, further consolidation and streamlining of various functional roles within these segments are expected to occur to de-layer, speed decision making, and improve the cost structure.
Randal W. Baker, President and Chief Executive Officer of Actuant, stated, “The consolidation and simplification of leadership and other roles will forge a stronger, more direct connection across the company and accelerate achievement of our long term strategies. I believe this will create more responsive and action oriented teams to drive growth and react effectively to market conditions. I want to thank Steve for his many contributions to Actuant during his tenure.”
The above changes have no impact on Actuant’s external financial reporting structure. The company will continue to report three segments – Industrial, Energy and Engineered Solutions.
Actuant expects to record severance and other termination charges in its fiscal 2018 first quarter financial results in concert with this and other previously announced leadership changes. An update to restructuring efforts will be provided with Actuant’s fourth quarter fiscal 2017 financial results which will be released on September 27, 2017.
About Actuant
Actuant Corporation is a diversified industrial company serving customers from operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic tools and solutions, specialized products and services for energy markets and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its businesses, visit the Company's website at www.actuant.com.
CONTACT:
Actuant Corporation
Karen Bauer
Communications &
Investor Relations Leader
262-293-1562