Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
On April 6, 2020, the Compensation Committee of the Board of Directors of Vertiv Holdings Co resolved that, as a precautionary measure against the potential impact of COVID-19 on the company’s business and operations, the base salary of the following executive officers shall be reduced by ten percent (10%) effective March 30, 2020: Rob Johnson, David Fallon, Jason M. Forcier, John Hewitt, and Stephen Liang, each one of our “named executive officers,” as well as Giordano Albertazzi, Andrew Cole, Colin Flannery, Sheryl Haislet, Patrick Johnson, Steve Lalla, and Gary Niederpruem. In addition, the Board of Directors resolved that the cash compensation of all non-employee directors of the company will likewise be reduced by ten percent (10%) effective March 31, 2020. The foregoing reductions in base salary and cash compensation will stay in place until lifted by subsequent resolutions of the Compensation Committee and Board of Directors.