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HSP > SEC Filings for HSP > Form 8-K on 15-Apr-2013All Recent SEC Filings

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Form 8-K for HOSPIRA INC


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 April 15, 2013, Mr. Matthew R. Stober was appointed Senior Vice President, Operations of Hospira, Inc. (the "Company"), effective immediately, and will join the Company's senior leadership team. Mr. Stober is succeeding Mr. John Elliot, the Company's previous Senior Vice President, Operations, who held the position from April 2012 to April 15, 2013. Mr. Elliot will provide transitional support throughout the remainder of 2013.

Mr. Stober, age 45, served as the Company's Corporate Vice President, U.S. Pharmaceutical Operations from December 2011 to April 2013. Prior to joining the Company, from June 2011 to December 2011, Mr. Stober served as the Vice President and Global Platform Leader for Solids, Parenterals and Vaccines at Johnson & Johnson (a multi-national manufacturer of pharmaceutical, diagnostic, surgical, personal hygiene and biotechnology products). From 2008 to 2011, Mr. Stober served as the Global Head of Technical Operations, Vaccines and Diagnostics at Novartis (a multi-national manufacturer of pharmaceuticals, vaccines, consumer health, generics, eye care and animal health).

Mr. Stober's base salary is $450,000 and he is eligible for an annual incentive award targeted at 70% of base salary. Mr. Stober receives annual long-term incentive awards, similar to other Company corporate officers, which are governed by the terms of the Company's 2004 Long-Term Stock Incentive Plan, as amended (this plan has been filed as Exhibit 10.2 to the Company's Annual Report on Form 10-K for the year ended December 31, 2010). Mr. Stober is eligible for severance benefits under the Company's Corporate Officer Severance Plan, as amended (this plan has been filed as Exhibit 10.10 to the Company's Annual Report on Form 10-K for the year ended December 31, 2011). Hospira and Mr. Stober had entered into a change in control agreement, a form of which was filed as Exhibit 10.6(c) with the Company's Annual Report on Form 10-K for the year ended December 31, 2012. Mr. Stober's participation in the Corporate Officer Severance Plan and his change in control agreement were entered into prior to his appointment as Senior Vice President, Operations and were not entered into or modified in connection with this appointment.

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