Weber has now finished turning over their executive team, with their CFO Bill Horton leaving effective January 31st, 2023. He’ll be replaced on an interim basis by someone that’s also leaving the company.
As we noted previously, it’s odd for him to resign because he still has a year and a half on his employment agreement. Whether it was a voluntary or forced resignation, according to an SEC filing, he will be compensated for it.
For his support in the temporary transition to the interim CFO, Weber is going to pay him $375,000. For the payment he also has to sign a release, which makes the resignation sound much less voluntary.