UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of report: October 2, 2020 (Date of earliest event reported:
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Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 1, 2020, the Company promoted Robert M. Sullivan to the position of Vice President and Chief Financial Officer and designated Chief Accounting Officer. The duties and responsibilities of the Company’s Chief Financial Officer position will be transitioned to Mr. Sullivan from Mr. Daniel A. Bergeron. Mr. Bergeron will assume additional operational responsibility within the Company as he continues to serve as the Company’s Vice President and Chief Operating Officer.
Robert Sullivan joined the Company as Assistant Corporate Controller in March 2016 and was appointed Corporate Controller in February 2017. Mr. Sullivan has over 13 years of experience in public accounting and auditing. Prior to joining the Company, Mr. Sullivan worked at Sikorsky Aircraft Corporation involved in business development, program finance, and financial planning and analysis. Prior to Sikorsky, Mr. Sullivan was an Audit Manager at Ernst & Young LLP where he worked from 2007 to 2013. Mr. Sullivan has a Bachelor of Science degree in Accounting from Fairfield University, a Master of Science degree in Accounting and Taxation from the University of Hartford, and a Master of Business Administration from the University of Connecticut. Mr. Sullivan is a Certified Public Accountant in the State of Connecticut.
On October 1, 2020, the Company promoted John J. Feeney to the position of Vice President, General Counsel and Secretary and designated Chief Legal Officer. The duties and responsibilities performed by Joseph Salamunovich, who had served as the Company’s Vice President, General Counsel and Secretary since 2018, will be transitioned to Mr. Feeney. Mr. Salamunovich will remain an employee of the Company and provide a variety of legal services.
John Feeney joined the Company as Assistant General Counsel in 2014. From 2008 to 2014 he worked as Associate Counsel for Conair Corporation, a privately held consumer products company in Stamford Connecticut. From 2005 to 2008 Mr. Feeney worked as Staff Counsel at Volt Information Sciences, Inc., a publicly-owned staffing company. From 2000 to 2005 he worked as an Assistant Corporation Counsel for the New York City Law Department, where he focused on litigation. Mr. Feeney has a Bachelor of Arts degree in History from St. Joseph’s University, a Master of Arts degree in American Government and Politics from St. John’s University, and a Juris Doctor from SUNY Buffalo, School of Law.
As officers of the Company, Messrs. Sullivan and Feeney are at-will employees and entitled to participate in the same general benefits and incentive opportunities that are generally available to other salaried employees (excluding the CEO and COO) and which do not discriminate in favor of executive officers. This includes a base salary and incentive opportunities under the Company’s Annual Incentive Compensation Plan, Long-Term Equity Incentive Program and Supplemental Executive Retirement Plan.
Mr. Ernest J. Hawkins’ position as the Company’s Vice President Finance and Chief Accounting Officer has been eliminated. Mr. Hawkins’ departure is not the result of any disagreement on any matter of accounting principles or practices, financial statement disclosures, or internal controls. Mr. Hawkins has entered into a Transition Employment Agreement with the Company and will provide support to the accounting and tax departments until January 31, 2020.
The press release announcing these changes has been filed as Exhibit 99.1 to this report and is incorporated herein by this reference
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
| Exhibit 99.1 | Press Release of RBC Bearings Incorporated dated October 2, 2020. |
Page 1
SIGNATURES
According to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Date: October 2, 2020
| RBC BEARINGS INCORPORATED | |||
| By: | /s/ John J. Feeney | ||
| Name: | John J. Feeney | ||
| Title: | Vice President, General Counsel & Secretary | ||
Page 2
Exhibit 99.1
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One Tribology Center Oxford, Connecticut 06478 Phone: 203.267.7001 Fax: 203.267.5000 rbcbearings.com |
RBC Bearings Announces Senior Leadership Appointments
Robert M. Sullivan Appointed as Vice President and Chief Financial Officer
John J. Feeney Appointed as Vice President, General Counsel and Secretary
Oxford, CT – Friday, October 2, 2020 - RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly-engineered precision bearings and components for the industrial, defense and aerospace industries, today announced the appointment of Robert M. Sullivan as Vice President and Chief Financial Officer (Chief Accounting Officer) to replace Daniel A. Bergeron. Mr. Bergeron will assume additional operational responsibility within RBC Bearings as Vice President and Chief Operating Officer. John J. Feeney will become Vice President, General Counsel and Secretary to replace Joseph Salamunovich, who is stepping down to a support role to facilitate a smooth transition of the general counsel function and to provide a variety of legal services.
Rob Sullivan joined RBC Bearings as Assistant Corporate Controller in March 2016 and was appointed Corporate Controller in February 2017. Rob has over 13 years of experience in public accounting and auditing. Prior to joining RBC Bearings, Rob worked at Sikorsky Aircraft Corporation involved in business development, program finance, and financial planning and analysis. Prior to Sikorsky, Rob was Audit Manager at Ernst & Young LLP where he worked from 2007 to 2013. Rob has a Bachelor of Science degree in Accounting from Fairfield University, a Master of Science degree in Accounting and Taxation from the University of Hartford, and a Master of Business Administration from the University of Connecticut. Rob is a Certified Public Accountant in the State of Connecticut.
John Feeney joined RBC Bearings as Assistant General Counsel in 2014. Prior to that he was Associate Counsel for Conair Corporation, a privately-held consumer products company in Stamford, Connecticut from 2008 to 2014, and from 2005 to 2008 he was Staff Counsel at Volt Information Sciences, Inc., a publicly-owned staffing company. From 2000 to 2005 he was an Assistant Corporation Counsel with the New York City Law Department, where he focused on litigation. John has a Bachelor of Arts degree in History from St. Joseph’s University, a Master of Arts degree in American Government and Politics from St. John’s University, and a Juris Doctor from SUNY Buffalo, School of Law.
Dr. Michael Hartnett, Chairman and Chief Executive Officer of RBC Bearings said, “I congratulate John on his new role within our company. His understanding of our organization and our goals, combined with his great breadth of practical experience will be invaluable to his new position. I also want to extend my appreciation and thanks to Joseph for his dedication as general counsel and toward mentoring John until he was ready to assume the position.”
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One Tribology Center Oxford, Connecticut 06478 Phone: 203.267.7001 Fax: 203.267.5000 rbcbearings.com |
Daniel Bergeron, Vice President and Chief Operating Officer of RBC Bearings said, “Rob has proven to be an invaluable asset to our finance team, and we believe his contributions to the broader organization will be best utilized at the executive management level. While I will continue mentoring Rob during this transitional period, his extensive corporate finance experience within the industrial and aerospace markets in which we operate gives us confidence in his ability to excel in this role. His appointment will provide additional bandwidth to our leadership team as we continue to execute on our strategic and operational priorities and continue to deliver value for our stakeholders.”
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings and components. Founded in 1919, the Company is primarily focused on producing highly technical or regulated bearing products and components requiring sophisticated design, testing, and manufacturing capabilities for the diversified industrial, aerospace, and defense markets. The Company is headquartered in Oxford, Connecticut.
Contacts
RBC Bearings
Dan Bergeron
203-267-5028
dbergeron@rbcbearings.com
Alpha IR Group
Michael Cummings
617-461-1101
investors@rbcbearings.com