Lear Corp: CFO resigns and successor named

What happened Lear Corp filed an 8-K on Oct 19, 2026 announcing that Jason Cardew notified the company on Oct 13, 2026 that he will resign as senior vice president and chief financial officer, effective Feb 28, 2027. The filing states that Mr. Cardew will continue as a non‑executive employee in a consulting and advisory role through his retirement on Dec 31, 2027. The company announced that Jared Fedele will be appointed senior vice president and chief financial officer, effective Mar 1, 2027.

Key details

• Jared Fedele, age 45, has worked at the company since Jul 2003 and currently serves as vice president of finance for global seating and e-systems. His initial annual base salary will be $750,000.
• The Fedele employment agreement provides eligibility for the annual incentive plan and the 2019 long-term stock incentive plan, and a severance package equal to 2 times the sum of base salary and target bonus plus 24 months of continued health coverage if terminated other than for cause or incapacity or if he leaves for good reason (subject to a release).
• In certain termination scenarios, Mr. Fedele would receive full vesting of time‑based LTSIP awards and pro‑rata vesting of performance‑based LTSIP awards (based on actual performance). The agreement also includes non‑competition, confidential information and non‑solicitation covenants.
• Mr. Cardew’s amended agreement (effective Mar 1, 2027) sets his consulting base salary at $22,000 per month, continued participation in employee benefit plans, and eligibility for a cash performance bonus only for the portion of the 2027 performance year during which he served as CFO; the amended agreement provides that he will not be entitled to cash severance if his employment terminates during the consulting term.

Why it may matter This item is reported under Item 5.02 (departure of directors or certain officers; election of directors), which covers officer changes and related employment agreements and benefits. The filing does not show why the insider traded or why the company acted.