UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
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May 8, 2015
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Date of Report (Date of Earliest Event Reported)
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ITRON, INC.
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(Exact Name of Registrant as Specified in its Charter)
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Washington
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000-22418
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91-1011792
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(State or Other Jurisdiction of Incorporation)
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(Commission File No.)
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(IRS Employer Identification No.)
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2111 N. Molter Road, Liberty Lake, WA 99019
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(Address of Principal Executive Offices, Zip Code)
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(509) 924-9900
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(Registrant’s Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 5.02
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
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Election of New Directors
On May 8, 2015, the Board of Directors (the Board) of Itron, Inc.
(Itron) elected Diana D. Tremblay and Frank Jaehnert as directors,
effective June 1, 2015 and serving until the 2016 annual shareholders
meeting, at which time both will stand for election by Itron’s
shareholders.
Diana D. Tremblay - Since 2013, Ms. Tremblay, age 55, has served
as Vice President of Global Business Services of General Motors Company
(GM). From 1977 until promoted to her current position, she held varying
roles of increasing responsibility at GM, including Vice President,
Manufacturing - North America from 2012 to 2013 and Global Chief
Manufacturing Officer from 2009 to 2012.
Frank M. Jeahnert - From 2003 until his retirement in 2013, Mr.
Jaehnert was President and CEO of Brady Corporation, an SEC registrant
and global manufacturer of industrial identification and specialty
coated material products located in Milwaukee, Wisconsin. Mr. Jaehnert
began working for Brady Corporation in1995 and held positions as
Director of Finance, Chief Financial Officer, and President of the
Identification Solutions and Specialty Tapes Group. In addition to his
service on Itron's Board, Mr. Jaehnert is a non-executive director of
the board of Briggs and Stratton Corporation and of the board of Nordson
Corporation, both of which are publicly traded companies.
Neither Ms. Tremblay nor Mr. Jaehnert has yet been named to a committee
of the Board.
As directors, both Ms. Tremblay and Mr. Jaehnert will each receive an
annual retainer of $165,000, of which $65,000 is paid in cash, and the
remainder is paid in shares of Itron’s common stock, which vest
immediately. The retainer is paid and issued in equal increments on the
first day of each fiscal quarter. In addition, as new directors, each
will be granted a restricted stock award equal to 50% of his or her
annual cash retainer. These awards will vest equally in one-third
increments beginning on the first anniversary of the date of grant.
There are no related party transactions between Itron and Ms. Tremblay
or Itron and Mr. Jaehnert that would require disclosure under Item
404(a) of Regulation SK.
Retirement of Director
Graham M. Wilson's term as a director ended on May 8, 2015. Mr. Wilson
did not stand for reelection at the annual meeting of shareholders on
May 8, 2015 as he has reached age 70, which is the mandatory retirement
age as specified in the Board's corporate governance policies. Mr.
Wilson has served on Itron's Board since 1990.
Upon the retirement of Mr. Wilson and the elections of Ms. Tremblay and
Mr. Jaehnert, the Board was expanded from 11 to 12 members.
Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits.
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Exhibit
Number
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Description
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99.1
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Press Release dated May 11, 2015.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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ITRON, INC.
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Dated:
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May 11, 2015
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By:
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/s/ SHANNON M. VOTAVA
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Shannon M. Votava
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Vice President, General Counsel & Corporate Secretary
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EXHIBIT INDEX
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Exhibit Number
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Description
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99.1
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Press Release dated May 11, 2015
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Exhibit 99.1
Itron
Appoints Two New Members to Board of Directors
General
Motors executive Diana Tremblay and manufacturing industry executive
Frank Jaehnert to join board, Graham Wilson retires
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--May 11, 2015--Itron, Inc. (NASDAQ:
ITRI), a world-leading technology and services company dedicated to the
resourceful use of energy and water, announced today the appointment of
Diana Tremblay, vice president of Global Business Services at General
Motors (GM) Company, and Frank Jaehnert, former president and chief
executive officer of Brady Corporation, to its board of directors
effective June 1, 2015. In addition, Graham Wilson retired from the
board effective May 8, 2015.
Tremblay brings nearly 40 years of manufacturing experience to the
position. She has been with GM since 1977, during which time she has
held a variety of positions in engineering, manufacturing and labor
relations. Most recently, as leader of GM’s newly formed Global Business
Services, she is charged with streamlining administrative processes to
improve service quality, reduce complexity and achieve cost efficiencies
of more than 30 percent by 2017.
Jaehnert served as president and chief executive officer of Brady
Corporation, the $1.2 billion Milwaukee-based global manufacturer of
industrial identification and specialty coated material products, from
2003 to 2013. Jaehnert brings 20 years of experience working at a public
company where he played a key role in the company’s growth via
acquisitions, completing some 30 strategically synergistic acquisitions
that expanded Brady’s global reach.
“Diana Tremblay and Frank Jaehnert are both ideal candidates for Itron’s
board of directors, bringing diverse experience and fresh perspectives
to the board. We look forward to benefiting from Diana’s wealth of
knowledge in manufacturing and Frank’s depth of experience growing an
international company,” said Jon Eliassen, chairman of Itron’s board of
directors.
“In anticipation of a number of upcoming board retirements, we have been
engaged in very proactive and thoughtful succession planning as we
refresh our board. I would like to acknowledge and thank Graham Wilson
for his many years of service on the board and welcome Diana and Frank,”
added Eliassen.
“As Itron continues to focus on adding business value through software
and services, Diana will bring tremendous insights and expertise to our
company with her strong manufacturing background and experience with
GM’s services business. We will greatly benefit from Frank’s global
experience and expertise in strategic acquisitions as we continue to
explore growth opportunities,” said Philip Mezey, Itron’s president and
chief executive officer.
About Itron
Itron is a world-leading technology and services company dedicated to
the resourceful use of energy and water. We provide comprehensive
solutions that measure, manage and analyze energy and water. Our broad
product portfolio includes electricity, gas, water and thermal energy
measurement devices and control technology; communications systems;
software; as well as managed and consulting services. With thousands of
employees supporting nearly 8,000 customers in more than 100 countries,
Itron applies knowledge and technology to better manage energy and water
resources. Together, we can create a more resourceful world. Join us: www.itron.com.
CONTACT:
Itron, Inc.
Sharelynn Moore, 509-891-3524
Vice
President, Corporate Marketing and Public Affairs
sharelynn.moore@itron.com
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