In a recent filing with the Securities and Exchange Commission, Team Inc., a company specializing in miscellaneous repair services with annual revenue of $853 million, announced the resignation of André C. Bouchard, its Executive Vice President, Administration, Chief Legal Officer, and Secretary. The resignation is set to take effect on January 18, 2025.
Mr. Bouchard has decided to step down from his roles at the Sugar Land, Texas-based company to pursue another opportunity. According to the 8-K filing, his departure is not due to any disagreements with Team Inc. regarding its operations, policies, or practices.
The filing, dated January 10, 2025, formalizes the executive change, which was first reported to the company on January 6, 2025. This corporate update comes as the company adheres to regulatory requirements for reporting significant changes in its executive team.
Team Inc. has not yet announced a successor for Mr. Bouchard or detailed any interim plans for the management of his responsibilities following his departure. The company's stock, traded on the New York Stock Exchange under the ticker TISI, may see investor reaction to this executive movement in the coming days. According to InvestingPro data, TISI has shown remarkable performance with a 125% return over the past year, despite its historically volatile trading pattern. The stock is currently trading near its Fair Value based on comprehensive analysis.
The information regarding this executive transition is based on the latest 8-K filing by Team Inc. with the SEC. The company, incorporated in Delaware and with fiscal year-end on December 31, is known for its services within the industrial repair sector. With a market capitalization of $68.5 million and a healthy current ratio of 1.8, the company maintains strong liquidity. Get access to 8 more key financial insights and exclusive analysis with InvestingPro. It operates out of its headquarters at 13131 Dairy Ashford (NYSE:AINC), Suite 600, Sugar Land, TX, 77478.
The 8-K filing serves as a primary source for this news, and no additional details have been provided outside of the document. The company's financial statements and other exhibits were also included in the filing, as is standard for such disclosures.
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