AGCO Corporation
05/16/2024 | Press release | Distributed by Public on 05/16/2024 14:02
Management Change/Compensation - Form 8-K
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 16, 2024, AGCO Corporation (the "Company") reported that Indira Agarwal was appointed Vice President and Chief Accounting Officer of the Company, effective June 17, 2024 (the "Effective Date"). Ms. Agarwal, age 48, will also serve as Principal Accounting Officer of the Company beginning on the Effective Date, succeeding Damon Audia who has served in that role since September 2023. Mr. Audia will continue to serve in his role as Senior Vice President and Chief Financial Officer. Ms. Agarwal joins the Company from HF Sinclair Corporation where she served as Vice President, Chief Accounting Officer and Controller since May 2020 and Director, Consolidations and SEC Reporting from April 2018 to May 2020. Prior to such time, Ms. Agarwal held roles of increasing responsibility at Cardtronics, Inc. and at Direct Energy.
Under the terms of Ms. Agarwal's compensation arrangement, she will receive a base salary, and customary incentive compensation and other benefits. Ms. Agarwal's compensation arrangement also contains customary non-compete, non-solicitation and confidentiality provisions and severance benefits in connection with a termination by the Company without "cause" or by Ms. Agarwal for "good reason." The amount of the severance benefits depends on whether the termination involved a change of control.
Neither Ms. Agarwal nor any of her immediate family members is a party, either directly or indirectly, to any transaction that would be required to be reported under Item 404(a) of Regulation S-K; nor is Ms. Agarwal a party to any arrangement or understanding under which she was selected to serve as an officer.