He is a 1983 graduate of Iowa State University receiving an Industrial Engineering degree and earned his MBA from Columbia University in 1988.
Coincident with the appointment of Mr. Bevis, Mr. James F. Wilson, currently Xerium’s Lead Director, has been appointed the company’s Chairman of the Board. Mr. Wilson joined the Xerium Board of Directors in June 2010 and has served on the Compensation and Nominating committees since that time.
Mr. Wilson is a principal at Carl Marks Management Company, LLC, an investment firm which is a significant shareholder of Xerium stock. As a consequence of the separation of the Chairman and CEO roles, the Board of Directors will no longer have a Lead Director.
As previously announced in December 2011, Stephen R. Light Xerium’s Chairman, Chief Executive Officer and President resigned from his executive and board positions coincident with the appointment of Mr. Bevis and Mr. Wilson.
Mr. Light will remain a non-executive employee of the company to facilitate the executive transition until his retirement in February 2013. The company wishes to thank Mr. Light for his leadership and contributions during a time of significant change and progress for Xerium.
In connection with his appointment, Mr. Bevis was awarded 204,208 restricted stock units and options to purchase 781,701 shares of Xerium’s common stock. These awards were made in accordance with the employment inducement award exemption provided by Section 303A.08 of the New York Stock Exchange Listed Company Manual and were therefore not awarded under Xerium’s stockholder approved equity plan.
The restricted stock units vest annually in one-third increments, beginning on the second anniversary of the August 15, 2012 grant date. Vested restricted stock units will result in the delivery to Mr. Bevis of one share of Xerium’s common stock per vested unit.
The options will vest annually in one-third increments, beginning on the second anniversary of the August 15, 2012 grant date, have a 10-year term and an exercise price of $4.00 per share, the August 15, 2012 closing price of Xerium’s common stock on the New York Stock Exchange.
Xerium Technologies Inc. is a leading global manufacturer and supplier of two types of consumable products used primarily in the production of paper-clothing and roll covers.
Xerium Technologies Inc
| On 4th Aug 2021
The US Federal Trade Commission (FTC) recently voted to retain the...
| On 4th Aug 2021
Retail sales in Germany rose much more than expected in June...
Kontoor Brands, an American apparel company with denim brands like...
Uniform designing is a numbers game
Sustainable and eco-friendly fibres remain in the minority
Great step towards realising end goal of 'AtmaNirbhar Bharat'
A TV show in 2012 where actor Sonam Kapoor customises her own pair of...
The entertainment/character segment lead as the largest sector for the...
Headquartered at Singapore, Crocodile is a global fashion and lifestyle...
Garware Technical Fibres Ltd
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
MIP is a manufacturer and distributor of high-performance textiles and...
German company Dilo Group is one of the leading equipment suppliers of...
Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep
Established in 2012, Sarah & Sandeep is a luxury menswear label...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Abhishek Bajaj & Samiksha Bajaj
Samshek is a fashion forward tech brand which combines digital experience...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.