Live Nation Entertainment, Inc 8-K, filed May 7, 2021
Live Nation Entertainment, Inc. (LYV)
8-K
2021-05-07
For: 2021-05-06
View Original
Added on
April 08, 2026
About this 8-K
Live Nation Entertainment, Inc filed this 8-K on May 7, 2021, reporting on events of May 6, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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
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(310 ) 867-7000
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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:
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| 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). | |||||
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| 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
(b) On May 6, 2021, Live Nation Entertainment, Inc. (the “Company”) announced that Kathy Willard, the Company’s Executive Vice President and Chief Financial Officer (principal financial officer), will be retiring, effective June 30, 2021. A copy of the press release issued by the Company in respect of Ms. Willard’s retirement is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. | ||||
(d) Exhibits.
Exhibit No. | Exhibit Description | |||||||
| 99.1 | ||||||||
| 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 hereunto duly authorized.
Live Nation Entertainment, Inc. | ||||||||||||||
By: | /s/ Brian Capo | |||||||||||||
| Brian Capo | ||||||||||||||
| Chief Accounting Officer | ||||||||||||||
May 6, 2021
EXHIBIT 99.1
Live Nation Entertainment Chief Financial Officer Kathy Willard to Retire
Live Nation Entertainment Plans for Joe Berchtold to Assume CFO Role
May 6, 2021 – Los Angeles, CA – Live Nation Entertainment, Inc. (NYSE: LYV) today announced that Chief Financial Officer Kathy Willard has decided to retire after nearly twenty-five years at the company effective June 30th, 2021. The company is planning for Joe Berchtold, who currently serves as Live Nation’s President, to assume the role of President and CFO. Willard will consult on the transition and remain with the company as an advisor to the management team.
“Kathy has been here since day one of Live Nation, and on behalf of the entire team, I want to thank her for her remarkable dedication and enormous contributions to our company,” said Michael Rapino, President and CEO. “Kathy’s leadership, vision and financial expertise have driven more than two decades of growth and will forever be part of Live Nation’s journey.”
“It has been an honor to have worked for this innovative and exciting company for so many years,” said Willard. “I am truly grateful to my Live Nation colleagues for their partnership, knowledge and friendship. I am proud of the work we have done to position the company for future financial success, and as we return to live shows, I know Joe will do an excellent job leading the company’s finances during one of the most important times in the company’s history.”
Berchtold plans to transition to the role of both President and CFO effective July 1st.
“Joe has always been intricately involved in our financial planning process and we’re happy to have someone who already knows our business so well stepping into this role,” Rapino said. “Over the past year we’ve been obsessed with improving our business however we can and we’re heading into the return of shows as we have deepened our executive team to provide more leadership on strategy, operations, and innovation than ever before. This will allow Joe to take on our CFO role and together, we will continue to focus on maintaining a strong financial position while ensuring that Live Nation is ready to resume live shows as soon as possible.”
"I'm grateful for the opportunity to have worked so closely with Kathy for over a decade, particularly over the past year as we prepared for this transition," said Berchtold. "I look forward to taking a deeper focus on our financial operations and continuing to lead Live Nation alongside Michael and our incredible global executive team."
As the Chief Financial Officer & Executive Vice President for Live Nation Entertainment, Willard has spent the past 14 years managing the finances for the world’s largest live entertainment, ticketing and eCommerce company. Willard oversaw ten consecutive record years of growth at Live Nation Entertainment from 2010 to 2019. She was also known for being a champion of women in the music industry, offering guidance and mentorship to help others follow in her footsteps. Willard was appointed CFO in September 2007 following nine years at the company in various roles including Executive Vice President and Chief Accounting Officer. Willard started her career with Arthur Andersen in 1988, where she worked in audit for five years before beginning her accounting and finance career. She graduated with a Bachelor’s degree in Business Administration with the highest honors from the University of Oklahoma and is a Certified Public Accountant.
Berchtold has served as President of Live Nation since 2017 after joining the company in 2011. As President, Berchtold oversees a number of corporate functions and leads many of the company’s performance improvement and strategic initiatives. Previously, he was President of Technicolor Creative Services, and before that a partner with McKinsey and Company. Berchtold graduated with a B.A. in Economics from Pomona College and earned a Master of Business Administration from Harvard University, where he was a Baker Scholar and Loeb Fellow.
About Live Nation Entertainment
Live Nation Entertainment (NYSE: LYV) is the world’s leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts and Live Nation Media & Sponsorship. For additional information, visit www.livenationentertainment.com.