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Garmin logoGarmin GRMN

Garmin said Patrick G. Desbois and Bradley C. Trenkle were appointed co-Chief Operating Officers effective July 1, 2024, announcing it on June 24, 2024.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Period of report Summary published (UTC)

Key points

AI summary
  1. Garmin said Patrick G. Desbois and Bradley C. Trenkle were appointed co-Chief Operating Officers effective July 1, 2024, announcing it on June 24, 2024.

  2. The company said that in the newly created co-COO role, Desbois will oversee aviation and auto OEM segments, global supply chain and operations, information technology and human resources, while Trenkle will oversee consumer business segments.

  3. Garmin said Desbois joined as Vice President, Executive Office in November 2011 and has served as Executive Vice President, Operations of Garmin International since February 2017, while Trenkle joined as a Software Engineer in 2002 and has served as Vice President, Outdoor Segment since 2017.

  4. The company said Desbois’s annual base salary will remain $875,000 and Trenkle’s annual base salary will remain $550,000 in their new roles. It said both will continue to be eligible for awards under the Garmin 2005 Equity Incentive Plan and to receive group health insurance and other employment benefits.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Co-Chief Operating Officer Appointments

Garmin said Patrick G. Desbois and Bradley C. Trenkle were appointed co-Chief Operating Officers effective July 1, 2024, announcing it on June 24, 2024.

Source · Based on the filing body and exhibits

Division of Responsibilities in New Roles

The company said that in the newly created co-COO role, Desbois will oversee aviation and auto OEM segments, global supply chain and operations, information technology and human resources, while Trenkle will oversee consumer business segments.

Source · Based on the filing body and exhibits

Backgrounds of the Two Executives

Garmin said Desbois joined as Vice President, Executive Office in November 2011 and has served as Executive Vice President, Operations of Garmin International since February 2017, while Trenkle joined as a Software Engineer in 2002 and has served as Vice President, Outdoor Segment since 2017.

Source · Based on the filing body and exhibits

Base Salary Unchanged and Compensation Components

The company said Desbois’s annual base salary will remain $875,000 and Trenkle’s annual base salary will remain $550,000 in their new roles. It said both will continue to be eligible for awards under the Garmin 2005 Equity Incentive Plan and to receive group health insurance and other employment benefits.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.