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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
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Date of Report (Date of earliest event reported): November 17, 2023 |
Preformed Line Products Company
(Exact name of Registrant as Specified in Its Charter)
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Ohio |
0-31164 |
34-0676895 |
(State or Other Jurisdiction
of Incorporation) |
(Commission File Number) |
(IRS Employer
Identification No.) |
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660 Beta Drive |
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Mayfield Village, Ohio |
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44143 |
(Address of Principal Executive Offices) |
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(Zip Code) |
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Registrant’s Telephone Number, Including Area Code: 440 461-5200 |
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading
Symbol(s) |
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Name of each exchange on which registered
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Common |
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PLPC |
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The Nasdaq Global Market |
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.
On November 17, 2023, the Board of Directors of Preformed Line Products Company (the “Company”) announced that Robert G. Ruhlman, the Company’s current Chairman of the Board and Chief Executive Officer, has been appointed as Executive Chairman of the Company and will no longer serve in the capacity of Chief Executive Officer, effective January 1, 2024. Mr. Ruhlman has served as the Company’s CEO since 2001.
In connection with Mr. Ruhlman’s appointment as Executive Chairman, the Board of Directors of the Company appointed Dennis F. McKenna as Chief Executive Officer of the Company, effective as of January 1, 2024.
Mr. McKenna, age 56, has been employed by the Company since April 1993 and has worked in various roles in Marketing and International Operations. He was promoted, in December 2019, to Chief Operating Officer where he was responsible for Sales, Operations and Business Development in the US, Americas and EMEA regions. Prior to that, he was Executive Vice President, which included responsibilities for Global Business Development, from January 2018 to December 2019. As Chief Executive Officer, Mr. McKenna’s responsibilities will expand to include the responsibility for all Sales and Operations worldwide.
There are no arrangements or understandings between Mr. McKenna and any other person pursuant to which Mr. McKenna was appointed to serve as Chief Executive Officer of the Company. Mr. McKenna currently does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. At this time, the Company does not have any written employment agreements or other formal compensation agreements with Mr. McKenna.
Item 7.01 Regulation FD Disclosure.
On November 22, 2023, the Company issued a press release announcing the management transition. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference. The press release shall not be deemed to be "filed" under the Securities Exchange Act of 1934.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
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Description |
99.1 |
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Press Release |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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PREFORMED LINE PRODUCTS COMPANY |
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Date: |
November 22, 2023 |
By: |
/s/ Caroline S. Vaccariello |
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Caroline S. Vaccariello, General Counsel & Corporate Secretary |
Exhibit 99.1
PLP APPOINTS DENNIS F. MCKENNA AS CHIEF EXECUTIVE OFFICER, ROBERT G. RUHLMAN AS EXECUTIVE CHAIRMAN
CLEVELAND, OHIO – NOVEMBER 22, 2023 – Preformed Line Products Company (NASDAQ: PLPC) today announced that its Board of Directors has appointed Dennis F. McKenna as Chief Executive Officer, effective January 1, 2024. Mr. McKenna assumes the role from Robert G. Ruhlman, who has served as CEO since 2000 and who will become Executive Chairman of the company.
Dennis McKenna is a long-standing employee of PLP, joining the company’s ranks in 1993 and steadily progressing through various leadership roles over his impressive thirty-year career. Most recently, Dennis served as the company’s Chief Operating Officer, where he oversaw PLP’s global operations and business development teams.
As CEO, Dennis will help lead a company that has experienced multiple years of consistent growth and will focus on continuing to expand the company’s global sales, engineering and manufacturing capabilities. Earlier this year, in May, J. Ryan Ruhlman was named President of the company and will concentrate on driving PLP’s business development objectives, marketing strategies and people-centric goals.
“PLP’s Board of Directors couldn’t be more pleased with the appointment of Dennis as PLP’s 4th CEO in the company’s 76-year history,” said Rob Ruhlman, current CEO and future Executive Chairman. “I am especially proud and fortunate that someone like Dennis, who has spent thirty years with the company, has risen through the ranks to become our next Chief Executive Officer – an incredible validation of the emphasis we place on employee retention and development.”
“It’s an honor and privilege to have the opportunity to serve as CEO of PLP,” said McKenna. “Like so many people at this company, I have a passion for helping the people we interact with every day and the critical industries we serve. I look forward to working closely with Rob, Ryan, the Board and the entire PLP organization as we continue to expand our product offerings, diversify globally and provide the unparalleled service that our customers and partners worldwide have come to expect from this great company.”
ABOUT PLP
PLP protects the world’s most critical connections by creating stronger and more reliable networks. The company’s precision-engineered solutions are trusted by energy and communications providers worldwide to perform better and last longer. With locations in over 20 countries, PLP works as a united global corporation, delivering high-quality products and unparalleled service to customers around the world.
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MEDIA RELATIONS |
INVESTOR RELATIONS |
JOSH NELSON |
ANDREW S. KLAUS |
MANAGER, MARKETING COMMUNICATIONS |
CHIEF FINANCIAL OFFICER |
+1 440 473 9120 |
+1 440 473 9246 |
JOSH.NELSON@PLP.COM |
ANDY.KLAUS@PLP.COM |
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