| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 9, 2018, Dorman Products, Inc. (the “Company”) announced that Mathias J. Barton will be retiring as President and Chief Executive Officer (“CEO”) of the Company. On August 6, 2018, the Board of Directors (the “Board”) approved a succession plan and appointed Kevin M. Olsen, the Company’s Executive Vice President and Chief Financial Officer (“CFO”), as the Company’s President and Chief Operating Officer effective as of August 6, 2018 and as the Company’s President and CEO effective as of January 1, 2019. Mr. Barton stepped down as President of the Company effective as of August 6, 2018 and will remain CEO of the Company until his retirement on December 31, 2018. In connection with assuming his new position, Mr. Olsen stepped down as CFO, principal financial officer and principal accounting officer of the Company and the Board appointed Michael P. Ginnetti, the Company’s Corporate Controller, as the Company’s interim CFO, interim principal financial officer and interim principal accounting officer effective as of August 6, 2018. Mr. Ginnetti will serve in such positions until a successor is named. The Company is conducting an executive search for a permanent CFO.
Mr. Olsen, 47, joined the Company in June 2016 as Senior Vice President and CFO. He became Executive Vice President and CFO in June 2017. Prior to joining the Company, Mr. Olsen was Chief Financial Officer of Colfax Fluid Handling, a division of Colfax Corporation, a diversified global manufacturing and engineering company that provides gas and fluid-handling and fabrication technology products and services to commercial and governmental customers around the world, from January 2013 through June 2016. Prior to joining Colfax, he served in progressively responsible management roles at the Forged Products Aero Turbine Division of Precision Castparts Corp, Crane Energy Flow Solutions, a division of Crane Co., Netshape Technologies, Inc., and Danaher Corporation. Prior thereto, Mr. Olsen performed public accounting work at PwC, LLP.
Mr. Ginnetti, 41, currently serves as Vice President, Corporate Controller of the Company. He has served in this position since May 2011 and he will continue to serve in this position while serving as interim CFO. Mr. Ginnetti previously served as the Company’s interim CFO for the period February 27, 2016 through June 12, 2016. Prior to joining the Company, Mr. Ginnetti was employed by Technitrol, Inc., an electronic components manufacturer, from 2001 to 2011, most recently as Corporate Controller and Chief Accounting Officer. Previously, he was employed by Arthur Andersen LLP in the Audit and Business Advisory practice.
| Item 7.01. | Regulation FD Disclosure. |
On August 9, 2018, the Company issued a press release announcing the foregoing management changes. A copy of that press release is furnished as Exhibit 99.1 to this Current Report on Form8-K.
| Item 9.01. | Financial Statements and Exhibits. |
