Compass Diversified Names New CFO
Westport, Conn.-based Compass Diversified Holdings will soon have a new CFO.
On Thursday, the diversified holding company of manufacturing, distribution, consumer products, and services businesses announced that current Chief Financial Officer James J. Bottiglieri intends to retire from the company on November 30, 2013. At that time, he will be replaced by newly promoted CFO Ryan J. Faulkingham (although Bottiglieri will remain on the Board of Directors).
In a statement, Faulkingham pronounced himself "proud and honored to be appointed as CODI's CFO."
In a filing with the SEC Thursday, Compass revealed that, upon taking his new position, Faulkingham will be paid an annual base salary of $335,000, plus an unspecified annual bonus to be "based on certain performance objectives."
The filing also reveals that, technically, this promotion is taking the form of a "secondment." An employee of Compass's management company, Compass Group Management LLC, Faulkingham will essentially be leased out by the managing LLC to the publicly traded company in the capacity of Compass's CFO, receiving at least part of his salary from Compass.
The article Compass Diversified Names New CFO originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.