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): June 18, 2018
Graco Inc. |
(Exact name of registrant as specified in its charter) |
Minnesota | 001-9249 | 41-0285640 | ||
(State or other jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
88-11th Avenue Northeast Minneapolis, Minnesota | 55413 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant’s telephone number, including area code: (612) 623-6000
Not Applicable |
(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 18, 2018, Graco Inc. (the “Company”) announced the following management changes effective immediately.
Mark W. Sheahan, 54, will become Chief Financial Officer and Treasurer. Mr. Sheahan joined the Company in 1995 and served as Vice President and General Manager, Applied Fluid Technologies Division from February 2008 to present. He served as Chief Administrative Officer from September 2005 until February 2008, and as Vice President and Treasurer from December 1998 to September 2005. Prior to becoming Treasurer in December 1996, Mr. Sheahan served as Manager, Treasury Services.
Christian E. Rothe, 44, will become President, Worldwide Applied Fluid Technologies Division. Mr. Rothe joined the Company in June 2011 and served as Chief Financial Officer and Treasurer from September 2015 to present. He served as Vice President and Treasurer from June 2011 until September 2015. Prior to joining the Company, Mr. Rothe held various positions in business development, accounting and finance, including, most recently, at Gardner Denver, Inc., a manufacturer of highly engineered products, as Vice President, Treasurer from January 2011 to June 2011, Vice President - Finance, Industrial Products Group from October 2008 to January 2011, and Director, Strategic Planning and Development from October 2006 to October 2008.
As of the date of this Form 8-K, there had been no compensatory actions taken in connection with these management changes that would be reportable under Form 8-K.
Item 9.01. | Financial Statements and Exhibits |
(d) | Exhibits |
99.1 Press Release dated June 18, 2018.
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, thereunto duly authorized.
GRACO INC.
Date: | June 18, 2018 | By: | /s/ Karen Park Gallivan ______________________ | |
Karen Park Gallivan | ||||
Its: Executive Vice President, General Counsel and Secretary | ||||
EXHIBIT INDEX
Exhibit | Description | Method of Filing |
99.1 | Filed Electronically | |
Exhibit 99.1 | GRACO INC. |  | ||
P.O. Box 1441 | ||||
 | Minneapolis, MN | |||
55440-1441 | ||||
NYSE: GGG | ||||
FOR IMMEDIATE RELEASE: | FOR FURTHER INFORMATION: |
June 18, 2018 | Charlotte Boyd, 612-623-6153 Charlotte_M_Boyd@graco.com |
Graco Names Mark W. Sheahan CFO and Treasurer
and Christian E. Rothe President of its Worldwide AFTD Business
MINNEAPOLIS (June 18, 2018) - The Board of Directors of Graco Inc. (NYSE: GGG), a leading manufacturer of fluid handling equipment, has named Mark W. Sheahan Chief Financial Officer and Treasurer, and Christian E. Rothe President of its Worldwide Applied Fluid Technologies Division (AFTD), part of its Industrial reporting segment, effective today.
“Mark and Christian have delivered consistently strong performance in their current roles, and we expect both will make significant contributions to Graco over the long term. Consistent with our philosophy of building a solid leadership bench through thoughtful job assignments for high performers, these assignments will broaden their skill sets and allow each to gain new perspectives on the business,” said Patrick J. McHale, Graco’s President and CEO. “This is a tremendous opportunity for them as individuals and for the Company, and these moves demonstrate our continued investment in the development of our key talent.”
Mr. Sheahan joined Graco in 1995 and has held senior management positions including Vice President and General Manager, Applied Fluid Technologies Division, since February 2008; Chief Administrative Officer from 2005 to 2008, responsible for human resources, information systems, investor relations and internal audit functions; and Vice President and Treasurer from 1998 to 2005. He was named Treasurer in 1996. Prior to Graco, he was a Senior Tax Manager at KPMG. Mr. Sheahan holds a Bachelor of Business Administration degree in Accounting from the University of Minnesota - Twin Cities and a J.D. from William Mitchell College of Law.
Mr. Rothe most recently served as Graco’s Chief Financial Officer and Treasurer, a role he has held since September 2015. He first joined the Company in 2011 as Vice President and Treasurer. Prior to Graco, Mr. Rothe held a series of finance roles of increasing responsibility at Gardner Denver, Inc., including Vice President and Treasurer, Vice President, Finance - Industrial Products Segment, and Director of Strategic Planning and Development. Mr. Rothe holds a Bachelor of Science degree in Accounting from the Herberger School of Business at St. Cloud State University, an MBA from the University of Minnesota’s Carlson School of Management and is a CPA (inactive).
ABOUT GRACO
Graco Inc. supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com or on Twitter @GracoInc.
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