Current Report Filing (8-k)
July 17 2014 - 8:03AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported) | July 11, 2014 |
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TENNANT COMPANY |
(Exact name of registrant as specified in its charter) |
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Minnesota | 1-16191 | 41-0572550 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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701 North Lilac Drive, P.O. Box 1452 Minneapolis, Minnesota | | 55440 |
(Address of principal executive offices) | | (Zip Code) |
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Registrant’s telephone number, including area code | (763) 540-1200 |
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):
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o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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o | 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.
(b) On July 11, 2014, Andrew J. Eckert, Senior Vice President, The Americas, of Tennant Company (the “Company”) gave notice of his intention to resign from his current position effective as of July 18, 2014 and from his employment with the Company effective October 17, 2014. The circumstances of Mr. Eckert’s resignation entitle him to severance benefits in accordance with his employment agreement. Mr. Eckert’s receipt of the severance benefits is conditioned upon him signing and not rescinding a general release of claims in favor of the Company and continued compliance with certain confidentiality, non-compete and non-solicitation covenants. A copy of the news release announcing Mr. Eckert’s resignation is attached hereto as Exhibit 99 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is filed herewith:
99 News Release dated July 17, 2014.
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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| Tennant Company | |
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Date: July 17, 2014 | By: | /s/ Heidi M. Wilson | |
| | Heidi M. Wilson | |
| | Senior Vice President, General Counsel and Secretary | |
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Exhibit 99
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INVESTOR CONTACT: Tom Paulson Senior Vice President and Chief Financial Officer 763-540-1204 | | MEDIA CONTACT: Kathryn Lovik Global Communications Director 763-540-1212 |
Tennant Company Announces Rusty Zay, Senior VP of Global Marketing,
Selected to Lead Largest Tennant Business Unit
Company Announces Resignation of
Andy Eckert, Senior VP of Americas Business Unit
MINNEAPOLIS, July 17, 2014-Tennant Company (NYSE: TNC) announced today that Andy Eckert, Senior Vice President of the Americas, has chosen to leave Tennant to pursue other career aspirations. Eckert, who joined the company in 2002 as Western Division Manager, rose through the ranks to lead Tennant’s largest business unit. Rusty Zay, Senior Vice President of Global Marketing, has been selected to replace Eckert.
Zay, a former Whirlpool marketing executive who joined Tennant in 2010, has led the transformation of the global marketing function at Tennant, demonstrating his ability to translate global strategic insights into results-oriented marketing programs. Zay has developed a marketing organization dedicated to sound research, customer-oriented products and solutions, and targeted marketing programs to drive profitable growth. His key contributions include the development and execution of the most robust product roadmap in Tennant ‘s history and the creation of an organization that delivers the sophisticated marketing analytics that are the cornerstone of Tennant’s ambitious growth goal of achieving $1 billion in sales and at least 12% operating profit margin by the end of 2017.
Chris Killingstad, Tennant Company President and CEO, thanked Eckert for his many contributions to Tennant, noting, “It is unfortunate that the professional development opportunities for future advancement at Tennant are inconsistent with Andy’s personal and professional ambitions. Tennant Company acknowledges Andy’s leadership of our Americas region, including growth of our Latin America market and tremendous expansion of our Global Strategic Accounts business.”
“We are delighted to be in a position where we can draw upon our succession plans to transition seamlessly with Rusty’s appointment to this critical leadership role,” said Killingstad. “I’m confident that Rusty will swiftly and successfully transfer his exceptional leadership from global marketing to leading the Americas and helping drive our ‘Blueprint for $1 Billion’ growth and profitability goals,” Killingstad continued.
According to Killingstad, Zay will assume his new leadership role as of July 21, 2014. Eckert will remain with the organization until October 17th to aid in the transition. The company will immediately begin a search for Zay’s replacement, including external and internal candidates. Mr. Zay will continue to have oversight of Global Marketing until a replacement is named, Killingstad added.
About Tennant Company
Minneapolis-based Tennant Company (NYSE: TNC) is a world leader in designing, manufacturing and marketing solutions that help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; chemical-free and other sustainable cleaning technologies; and coatings for protecting, repairing and upgrading surfaces. Tennant's global field service network is the most extensive in the industry. Tennant has manufacturing operations in Minneapolis, Minn.; Holland, Mich.; Louisville, Ky.; Uden, The Netherlands; the United Kingdom; São Paulo, Brazil; and Shanghai, China; and sells products directly in 15 countries and through distributors in more than 80 countries. For more information, visit www.tennantco.com.
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