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
Date of Report (Date of earliest event reported): November 27, 2018
MOHAWK INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware | 01-13697 | 52-1604305 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
160 South Industrial Blvd., Calhoun, Georgia | 30701 | |||
(Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code (706) 629-7721
(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 (see General Instruction A.2. below):
¨ Written communication pursuant to Rule 425 under Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act CFR 240.17R 240.13e-4(c))
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 Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On November 27, 2018, Mohawk Industries, Inc. (the “Company”) announced that Frank H. Boykin plans to retire from the Company in 2019. The Company has launched an external search for its next Chief Financial Officer and has retained an executive search firm to assist in the process. Mr. Boykin plans to continue in his role as Chief Financial Officer until his successor is appointed, after which he will facilitate the transition in a senior consultant role.
Item 7.01 Regulation FD Disclosure
On November 27, 2018, the Company issued a press release announcing the retirement of Mr. Boykin as discussed above. A copy of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.
This information, including Exhibit 99.1, is being 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 incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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.
Mohawk Industries, Inc. | ||||||
Date: | November 27, 2018 | By: | /s/ R. David Patton | |||
R. David Patton | ||||||
V.P.-Business Strategy, General Counsel & Secretary | ||||||
INDEX TO EXHIBITS
Exhibit | |||
99.1 | |||
Exhibit 99.1
NEWS RELEASE | ||||
For Release: Immediately
MOHAWK CFO FRANK BOYKIN PLANS RETIREMENT AFTER 25 YEARS
Calhoun, Georgia, November 27, 2018 - Mohawk Industries, Inc. (NYSE: MHK) today announced that Frank H. Boykin, chief financial officer, is planning to retire in 2019. Boykin joined Mohawk in 1993, moving up through various finance roles prior to his appointment as CFO in January 2005.
“I am grateful for the contributions Frank has made to Mohawk during his 25 years with the business,” said Jeffrey S. Lorberbaum, Chairman and Chief Executive Officer. “During that time, his leadership enabled Mohawk to expand from a niche carpet provider into the world’s largest flooring company with manufacturing operations in 19 countries. Frank has positioned Mohawk with a robust balance sheet that will support our growth and acquisitions in the future. I am confident in the strong financial team Frank has developed and appreciate his continued support through the transition.”
“I am proud of Mohawk’s remarkable growth and expansion during my time here,” said Boykin. “Mohawk is a great company with a bright future, and I look forward to working with our finance team to deliver a smooth transition.”
Mohawk has launched a comprehensive search for Boykin’s successor. After his successor is selected, Boykin will facilitate the transition in a senior consultant role.
ABOUT MOHAWK INDUSTRIES
Mohawk Industries is the leading global flooring manufacturer that creates products to enhance residential and commercial spaces around the world. Mohawk’s vertically integrated manufacturing and distribution processes provide competitive advantages in the production of carpet, rugs, ceramic tile, laminate, wood, stone and vinyl flooring. Our industry-leading innovation has yielded products and technologies that differentiate our brands in the marketplace and satisfy all remodeling and new construction requirements. Our brands are among the most recognized in the industry and include American Olean, Daltile, Durkan, Feltex, Godfrey Hirst, IVC, Karastan, Marazzi, Mohawk, Mohawk Group, Pergo, Quick-Step and Unilin. During the past decade, Mohawk has transformed its business from an American carpet manufacturer into the world’s largest flooring company with operations in Australia, Brazil, Canada, Europe, India, Malaysia, Mexico, New Zealand, Russia and the United States.
Certain of the statements in the immediately preceding paragraphs, particularly anticipating future performance, business prospects, growth and operating strategies and similar matters and those that include the words “could,” “should,” “believes,” “anticipates,” “expects,” and “estimates,” or similar expressions constitute “forward-looking statements.” For those statements, Mohawk claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. There can be no assurance that the forward-looking statements will be accurate because they are based on many assumptions, which involve risks and uncertainties. The following important factors could cause future results to differ: changes in economic or industry conditions; competition; inflation and deflation in raw material prices and other input costs; inflation and deflation in consumer markets; energy costs and supply; timing and level of capital expenditures; timing and implementation of price increases for the Company’s products; impairment charges; integration of acquisitions; international operations; introduction of new products; rationalization of operations; taxes and tax reform, product and other claims; litigation; and other risks identified in Mohawk’s SEC reports and public announcements.