Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Principal Accounting Officer
On June 2, 2020, Flowserve Corporation (the "Company") named Scott K. Vopni as
the Company's Vice President, Chief Accounting Officer, effective June 15, 2020.
Mr. Vopni will serve as the Company's principal accounting officer in his
capacity as Chief Accounting Officer, and Amy B. Schwetz, the Company's Senior
Vice President, Chief Financial Officer, who has been serving as principal
financial officer and principal accounting officer, will continue serving as the
Company's principal financial officer.
Mr. Vopni, 52, was previously the Senior Vice President and Chief Accounting
Officer of Dean Foods from 2010 - 2019. He also served as the Interim Chief
Financial Officer of Dean Foods from August 2017 through February 2018, Senior
Vice President - Finance from January 2016 to April 2018, Senior Vice President
- Investor Relations from October 2014 to January 2016, and Vice President -
Controller from 2008 to 2010. Prior to joining Dean Foods, Mr. Vopni served in
various roles at Pegasus Solutions, including Senior Vice President and Chief
Accounting Officer. Prior to joining Pegasus Solutions, he also served in
various accounting and finance roles with PFSweb, Brinker International and
Arthur Andersen & Co.
In his role with the Company, Mr. Vopni will receive an annual base salary of
$365,000. He will be eligible for a cash award under the Company's annual
incentive plan with a target award of 45% of base salary, and he will
participate in the Company's long-term incentive program with a target award of
$273,750. Mr. Vopni will also receive retirement, health and welfare and other
benefits and will participate in the Flowserve Corporation Change In Control
Severance Plan (the "Change in Control Plan"). Further details concerning the
Change in Control Plan are described in the Company's definitive proxy statement
dated April 9, 2020, under the heading "Executive Compensation-Elements of the
Executive Compensation Program-Other Compensation-Flowserve Corporation
Executive Change in Control Plan".
Mr. Vopni has no family relationships with any director or executive officer of
the Company, and there are no arrangements or understandings with any person
pursuant to which he will be selected as an officer of the Company. In addition,
there have been no transactions directly or indirectly involving Mr. Vopni that
would be required to be disclosed pursuant to Item 404(a) of Regulation S-K
under the Securities Exchange Act of 1934.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses