Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 16, 2021, Armstrong World Industries, Inc. (the "Company') announced
that Charlie M. Chiappone has notified the Company of his intent to retire from
his position as Senior Vice President, Ceiling and Wall Solutions of the
Company, effective April 1, 2022. In connection with Mr. Chiappone's pending
retirement, the Company announced that Mark A. Hershey, General Counsel, Chief
Compliance Officer and Senior Vice President of Business Development and
Sustainability will become Senior Vice President, Americas. In his new role, Mr.
Hershey will assume responsibility for the Company's mineral fiber and
architectural specialties business segments and retain responsibility for
Business Development. The Company also announced that Jill A. Crager, Vice
President, Commercial Digitalization will become Senior Vice President, Sales
Operations responsible for all distribution and direct sales channels, pricing
and customer service. In her new role, Ms. Crager will continue to be
responsible for Commercial Digitalization.
In connection with his appointment as Senior Vice President, Americas, Mr.
Hershey's base salary will increase to $490,000. Mr. Hershey will continue to
participate in the Company's annual short-term incentive plan, for which his
cash incentive award target will increase to 70% of actual annual base salary
earnings, as well as the Company's long-term incentive plan.
Mr. Chiappone's decision to retire is not related to any disagreement with the
Company, and he will provide support to Mr. Hershey and Ms. Crager through April
1, 2022 to ensure a smooth transition.
A copy of the Company's press release announcing Mr. Chiappone's retirement and
subsequent leadership changes is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
No. 99.1 Press Release of Armstrong World Industries, Inc. dated November 16,
2021
No. 104
Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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