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WSO > SEC Filings for WSO > Form 8-K on 7-Mar-2014All Recent SEC Filings

Show all filings for WATSCO INC

Form 8-K for WATSCO 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 March 3, 2014, the Board of Directors of Watsco, Inc. appointed Bob L. Moss, 66, to the Board. Mr. Moss previously served as a Watsco director for 20 years from 1992 to 2012. Mr. Moss is the Chairman and Chief Executive Officer of Moss & Associates LLC, founded in 2004 and one of the largest general contractors in the Southern United States. Mr. Moss meets the Company's independence guidelines for non-management directors and will serve as a Class B Common Stock director and as a member of the Board's Audit, Compensation and Nominating & Strategy Committees. His initial term will expire at the Company's 2014 annual meeting of shareholders, at which he will stand for election for a term expiring in 2016.

Mr. Moss will participate in the non-employee director compensation arrangements described in the "Director Compensation" section of the Company's 2013 Proxy Statement. There are no arrangements or understandings between Mr. Moss and any other person pursuant to which Mr. Moss was appointed to the Board, nor has the Company engaged in any transaction, nor are there any contemplated transactions, with Mr. Moss that would require disclosure in this Current Report on Form 8-K.

Mr. Moss replaces George P. Sape, who resigned from the Company's Board effective March 3, 2014. Mr. Sape and the Company have no disagreements, and the Company is grateful for his service and contributions as a Board member for the past 10 years.

Also on March 3, 2014, Paul W. Johnston, 61, was appointed to the newly-created position of Senior Vice President, Office of the Chairman. In his new role, Mr. Johnston will advise our Chairman and CEO in focusing on long-term strategy initiatives for the Company. In connection with his new appointment, Mr. Johnston vacated his role as a named executive officer, having served as Vice President of the Company since March 2008. Mr. Johnston remains a full-time employee of the Company.

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