VISTEON CORP (VC): CFO Jerome J. Rouquet reason not stated; search underway

Events in this filing

Item 5.02 as filed

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Visteon Corporation (the “Company”) announced today the appointment of Colleen E. Myers as its interim Chief Financial Officer effective upon the departure of its current Chief Financial Officer as discussed below. A copy of the press release announcing these events is attached hereto as Exhibit 99.1. Ms. Myers will serve as interim Chief Financial Officer until her successor is chosen and qualified, or until her earlier resignation or removal. The Board of Directors of the Company is in the process of initiating a search for a permanent Chief Financial Officer and will name Ms. Myers’ successor at the completion of the search. Ms. Myers will replace Jerome J. Rouquet who will leave the Company effective as of November 30, 2026. Ms. Myers will act as the Company’s principal financial officer and principal accounting officer during the time that she is serving as interim Chief Financial Officer. The departure of Mr. Rouquet is not the result of any disagreement with the Company or any matter relating to the Company’s operations, policies, or practices, including its controls or accounting policies.
Colleen E. Myers, 51, has been Visteon’s Vice President and Chief Accounting Officer since January 2024. Prior to her appointment to that role, she was Assistant Controller since May 2021 and Senior Manager, Reporting and Consolidations since joining the Company in June 2015. Prior to joining Visteon, she worked at Masco Corporation holding supervisory positions of increasing responsibility in financial reporting and internal audit. Ms. Myers is a certified public accountant. While serving as interim Chief Financial Officer, Ms. Myers will receive a monthly stipend of $25,000, and she will participate in the Company’s Change in Control Plan. In addition, going forward, Ms. Myers’ annual base salary will be increased from $286,000 to $330,000, and her target Annual Incentive and Long-Term Incentive awards will increase accordingly.
There is no arrangement or understanding between Ms. Myers and any other person pursuant to which he was selected as an officer of the Company and there are no family relationships between Ms. Myers and any of the Company’s directors or executive officers. There are no transactions to which the Company is a party and in which Ms. Myers has a direct or indirect material interest that would be required to be disclosed under Item 404(a) of Regulation S-K.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS