Helios Technologies Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 29, 2024, Helios Technologies, Inc. (the “Company”) Board of Directors (the “Board”) completed the previously announced investigation and determined that Josef Matosevic violated Company policy and demonstrated behavior that was inconsistent with the Company’s shared values and Code of Business Conduct and Ethics, which included a consensual relationship with an employee. The violation of Company policy did not involve financial misconduct, or the integrity of the Company’s financial systems or controls.
The Board terminated Mr. Matosevic as President, Chief Executive Officer and Board member without severance for cause, per his employment agreement.
The Board is initiating a comprehensive search process to identify a permanent successor. The process will include internal and external candidates.
Sean Bagan had previously been appointed to serve as Interim President and Chief Executive Officer in addition to his role as Chief Financial Officer, and Philippe Lemaitre as Executive Chairman in addition to his role as Chairman. Both will continue in these roles while the search is underway.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release dated July 29, 2024
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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 thereunto duly authorized.
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HELIOS TECHNOLOGIES, INC. |
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Date: |
July 29, 2024 |
By: |
/s/ Sean Bagan |
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Sean Bagan |