Item 2.02 Results of Operations and Financial Condition.
On February 5, 2020, iRobot Corporation (the "Company") announced its financial
results for the fiscal quarter and year ended December 28, 2019. A copy of the
press release is furnished as Exhibit 99.1 to this Current Report on Form 8K.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 3, 2020, Alison Dean resigned as Executive Vice President, Chief
Financial Officer and Treasurer of the Company, effective May 4, 2020.
On February 5, 2020, the Company announced that Julie Zeiler, the Company's
current Vice President of Finance, is being appointed as the Company's Executive
Vice President and Chief Financial Officer, effective May 4, 2020. Since joining
the Company in 2017 as Vice President of Finance, Ms. Zeiler, 54, has overseen
the Company's financial planning and analysis, and treasury functions. Working
with the Company's senior management team, she has played an important role in
further scaling the Company's global business by evolving key financial
management processes, supporting the integration of two international
acquisitions, and adding local capability to optimize performance in key
international markets. Prior to the Company, Mr. Zeiler served in a number of
senior financial leadership positions over a 20-year tenure at Boston Scientific
Corporation, including as Director of Finance, Global Operations from 2014 to
2017, as well as in financial management roles at Digital Equipment Corporation.
She holds a B.A. in Economics and English from Albion College.
In connection with her employment with the Company as Executive Vice President
and Chief Financial Officer, effective May 4, 2020, Ms. Zeiler will receive an
annual base salary of $425,000. Ms. Zeiler will also be eligible for an annual
cash bonus with a target of 75% of her then current annual base salary, subject
to the achievement of performance goals established and determined by the
Compensation and Talent Committee. In connection with her appointment, Ms.
Zeiler and the Company will enter into an executive agreement and an
indemnification agreement, each consistent with the forms thereof entered into
with the other executive officers of the Company and filed as exhibits to the
Company's Annual Report on Form 10-K.
Item 7.01 Regulation FD Disclosure.
On February 5, 2020, the Company issued a press release relating to its upcoming
CFO transition. A copy of this press release is furnished as Exhibit 99.2 to
this Current Report on Form 8-K.
The information in this Current Report on Form 8-K and Exhibits 99.1 and 99.2
attached hereto, other than the information in Item 5.02, is intended to be
furnished and shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise
subject to the liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as expressly set forth by specific reference in such
filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. Description
Press Release issued by the registrant on February 5, 2020, furnished
99.1 herewith.
Press Release issued by the registrant on February 5, 2020, furnished
99.2 herewith.
Cover Page Interactive Data File (embedded within the Inline XBRL
104 document).
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses