Vertiv Holdings Co 8-K, filed Oct 1, 2020
Vertiv Holdings Co (VRT)
8-K
2020-10-01
For: 2020-10-01
View Original
Added on
April 02, 2026
About this 8-K
Vertiv Holdings Co filed this 8-K on October 1, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
| UNITED STATES | ||||||||||||||||||||||||||
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
On October 1, 2020, Vertiv Holdings Co (the “Company”) announced that Scott Cripps, an experienced accounting and finance leader, joined the financial executive team as Chief Accounting Officer, effective immediately. Mr. Cripps will lead the global accounting organization and be responsible for advancing the Company’s accounting and internal financial controls. Mr. Cripps will report directly to the Company’s CFO, David Fallon.
Mr. Cripps brings more than 20 years of experience to the Company’s financial executive team. Before joining Vertiv, Cripps was with Owens Corning, a global leader in building and industrial materials, for nine years in roles of increasing responsibility—including serving as assistant controller, directing a variety of finance activities, and leading the organization’s Investor Relations function. His tenure with the company included a three-year international finance assignment in Europe. Earlier in his career, Cripps was with KPMG LLP for 11 years, working on behalf of public and private companies in the retail, manufacturing, consumer products, and technology sectors.
There are no arrangements or understandings between Mr. Cripps and any other persons pursuant to which he was selected as an officer. Mr. Cripps has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Mr. Cripps has no family relationships with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company, and there are no transactions between Mr. Cripps and the Company that would be required to be reported under Item 404(d) of Regulation S-K.
Mr. Cripps will receive a base salary and an annual cash bonus opportunity equal to a percentage of his base salary for target-level achievement of performance criteria established under the Company’s Annual Incentive Plan. Mr. Cripps will be eligible to receive a discrete number of equity awards of the Company as approved by the Compensation Committee of the Board of Directors of the Company under the terms of the 2020 Stock Incentive Plan of Vertiv Holdings Co and its Affiliates and which shall vest and be governed by the relevant award agreements. Mr. Cripps will also be eligible for a market-competitive long term incentive award each year, subject to the approval of the Board of Directors of the Company; a discrete short term incentive package; participation in the Company’s 401(k) plan and benefits programs; relocation benefits pursuant to Company policy should he decide to relocate for his role; executive severance under the Company’s Employment Policy if his employment is involuntarily terminated for a reason other than “Cause” or if he terminates for “Good Reason” (as each is defined in the Company’s Executive Employment Policy in effect at such termination); and a lump sum cash termination payment under the Company’s Change of Control Plan upon occurrence of events specified therein. Mr. Cripps has also executed an agreement subjecting him to a confidentiality provision and one-year post-termination non-competition and non-solicitation covenants.
Item 9.01 (d) Financial Statements and Exhibits
| Exhibit No. | Exhibit Description | |||||||
| 99.1 | ||||||||
SIGNATURE
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.
| Date: October 1, 2020 | Vertiv Holdings Co | ||||
| /s/ Rob Johnson | |||||
| Name: Rob Johnson | |||||
| Title: Chief Executive Officer | |||||
Vertiv Names Scott Cripps as Chief Accounting Officer
Columbus, Ohio [October 1, 2020] – Vertiv Holdings Co (“Vertiv”) (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today announced the naming of Scott A. Cripps to the position of Chief Accounting Officer, effective immediately.
Cripps will lead Vertiv’s global accounting organization and be responsible for advancing the company’s accounting and internal financial controls around the world. He will report to Vertiv Chief Financial Officer David Fallon.
“Scott is an outstanding executive who has demonstrated a consistent record of strong accounting and financial leadership throughout his career,” said Fallon. “And, Scott will bring both domestic and international experience to our financial leadership team helping us to create meaningful value for our customers, while serving the near- and long-term interests of our shareholders.”
Before joining Vertiv, Cripps was with Owens Corning, a global leader in building and industrial materials, for nine years in roles of increasing responsibility—including serving as assistant controller, directing a variety of finance activities, and leading the organization’s Investor Relations function. His tenure with the company included a three-year international finance assignment in Europe. Earlier in his career, Cripps was with KPMG LLP for 11 years, working on behalf of public and private companies in the retail, manufacturing, consumer products, and technology sectors.
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About Vertiv Holdings Co
Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to ensure its customers’ vital applications run continuously, perform optimally and grow with their business needs. As Architects of Continuity™, Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Columbus, Ohio, USA, Vertiv employs approximately 20,000 people and does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com.
CONTACT
Schuyler Easterling T +314-982-8673 E Schuyler.Easterling@fleishman.com
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