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CHMT > SEC Filings for CHMT > Form 8-K on 2-Nov-2012All Recent SEC Filings

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Form 8-K for CHEMTURA CORP


2-Nov-2012

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 29, 2012, the Board of Directors elected Laurence Orton as the Company's Vice President, Corporate Controller (Principal Accounting Officer), effective November 9, 2012. Mr. Orton, 40, has been the Company's Vice President, Finance & Investor Relations since 2010. Prior to that, he served as the Company's Vice President, Financial Planning & Analysis from 2008 to 2010 and prior to 2008 was Finance Director of the Performance Specialties Segment.

Effective November 9, 2012, Mr. Orton will receive an annual base salary of $270,000. Mr. Orton's target percentage opportunity under the 2012 Management Incentive Plan, expressed as a percentage of base salary, for the first eleven months of 2012 will remain at 35% and for the final month of 2012 be increased to 40%.

There is no family relationship between Mr. Orton and any director or other officer of the Company, nor is there any arrangement between Mr. Orton and any other person pursuant to which he was selected to serve as the Company's Vice President, Corporate Controller and Principal Accounting Officer. Mr. Orton is not a party to any related party transaction required to be reported pursuant to Item 404(a) of Regulation S-K.

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