Research Summary
AI-generated summary of this SEC filing
CDW Corp Announces CFO Retirement and Transition Plan
What Happened
- CDW Corporation announced that Albert J. Miralles, its Chief Financial Officer and Executive Vice President, Enterprise Business Operations, informed the company on August 3, 2026 that he intends to retire following an orderly transition. The company and Mr. Miralles executed a letter agreement on August 4, 2026.
- Mr. Miralles will remain full-time in his current role until a successor is named and will then serve as an Executive Advisor from the successor’s appointment through March 31, 2028. His full-time employment continues through his retirement date of March 31, 2027, after which he will provide part‑time advisory services through March 31, 2028. As Executive Advisor he will focus on Geared for Growth initiatives, investor relations support, M&A, and leadership development/coaching.
Key Details
- Retirement date: March 31, 2027; Executive Advisor Term: from successor appointment through March 31, 2028.
- Through March 31, 2027 Mr. Miralles’s compensation remains unchanged; he is eligible for prorated annual cash incentive awards for fiscal years 2026 and 2027 (prorated through March 31, 2027).
- From April 1, 2027 to March 31, 2028 his base salary will be $60,000; he will not be eligible for annual cash incentives during that period and will not participate in the 2027 or 2028 long‑term incentive programs.
- Mr. Miralles remains subject to his Compensation Protection Agreement through March 31, 2027, but will lose the right to terminate for “Good Reason” and will cease eligibility for severance benefits under that agreement as of March 31, 2027.
Why It Matters
- This filing signals a planned CFO transition with steps to preserve continuity: Mr. Miralles will stay through the search/appointment of a successor and then support the company as an advisor on strategic priorities (investor relations, M&A, growth initiatives).
- For investors, the arrangement reduces near‑term disruption to financial leadership and communications, while also changing post‑retirement compensation and severance protections. Market participants should watch for the announcement of a successor and any ensuing updates to leadership, financial guidance, or strategy.