Armstrong World's Sales Chief Of 28 Years Will Retire December 31, And No Successor Is Named
An 8-K says Jill Crager will leave as head of sales and marketing, and the company has started a search for her replacement.
Armstrong World Industries said in an 8-K that Jill A. Crager, its senior vice president of sales and marketing, told the company Monday she plans to retire effective December 31, 2026. The company will start a process to find her successor.
What the 8-K says
The filing, an 8-K the company signed Wednesday, reports under Item 5.02, the section for departures of certain officers. The event it reports occurred Monday, when Crager notified the company of her intent to retire from her role as Senior Vice President, Sales and Marketing.
The filing says she will retire after 28 years of "dedicated service to the Company." It names no successor. It says only that the company "will initiate a process for identifying her successor."
Crager does not leave immediately. She intends to stay engaged in leading the sales and marketing teams until her retirement date and to help with the handoff of her responsibilities, according to the filing.
What it changes
For holders, the change is a planned leadership gap in one function, with a fixed end date. The filing sets December 31, 2026 as the effective date, which gives the company a bit under three months from the filing to find a replacement. It gives no timetable for naming one.
The filing contains no financial figures, guidance or compensation terms. It does not give a reason for the retirement beyond her notice of intent.
At Wednesday's close, as of 4:32 p.m. ET, AWI shares were at $162.32, down 1.55% from the prior close. The filing does not tie that move to the announcement.
What to watch
The next item is an announcement naming who will take over Sales and Marketing. The company has not said when that will come, only that it will happen before or around Crager's December 31 departure.
Until the company names a successor, the filing's only commitment is that Crager will keep running the sales and marketing teams through December 31, 2026.
