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Form 8-K Woodward, Inc. For: Nov 15

November 15, 2016 1:01 PM EST
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________

Form 8-K
______________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): November 15, 2016  

Woodward, Inc.
(Exact Name of Registrant as Specified in Charter)

DELAWARE 000-840836-1984010
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification Number)

 

1081 Woodward Way, Fort Collins, Colorado 80524
(Address of Principal Executive Offices) (Zip Code)

970-482-5811
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 [   ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 [   ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 [   ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 [   ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

Item 8.01. Other Events.

On November 15, 2016, Woodward, Inc. (the "Registrant") announced that the two existing groups within its Industrial reportable segment, the Engine Systems and Turbomachinery Systems Groups, will be consolidated into one business group, Industrial Systems. A copy of the news release issued by the Registrant concerning the foregoing is furnished herewith as Exhibit 99.1 and is incorporated by reference.

 

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits
99.1 Press Release of Woodward, Inc. dated November 15, 2016

 


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 Woodward, Inc.
   
   
Dated: November 15, 2016By: /s/ A. Christopher Fawzy        
  A. Christopher Fawzy
  Corporate Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer
  


Exhibit Index

 

Exhibit No. Description
99.1 Press Release of Woodward, Inc. dated November 15, 2016

EXHIBIT 99.1

Woodward, Inc. Consolidates Industrial Groups

FORT COLLINS, Colo., Nov. 15, 2016 (GLOBE NEWSWIRE) -- Woodward, Inc. (NASDAQ: WWD) today announced the consolidation of its Engine Systems (“ES”) and Industrial Turbomachinery Systems (“ITS”) groups into a combined Industrial Systems group, creating a leaner organization that will be well-positioned to drive long-term growth and profitability. This consolidation will reduce costs and overhead to gain efficiencies, while still maintaining a focus on growth. As with ES and ITS, the combined Industrial Systems group will comprise the entirety of our Industrial segment. 

Chad Preiss, most recently the President of ES, was appointed President, Industrial Systems. Over his nearly 30 year career at Woodward, Preiss has held various leadership roles including overseeing the company’s business development efforts focusing on Woodward’s M&A activities, strategic planning and sales channels, and thereafter leading sales for our former Industrial Controls group. Preiss will continue to report to Tom Gendron, Woodward Chairman and CEO.

Jim Rudolph, most recently the President of ITS, will take the position of Corporate Vice President in a newly created role to drive growth initiatives, profitability and process enhancements, and to accelerate the implementation speed of critical company-wide projects. Rudolph will also continue to report to Tom Gendron.

About Woodward, Inc.

Woodward is an independent designer, manufacturer, and service provider of control system solutions and components for the aerospace and industrial markets. The company's innovative fluid, combustion, electrical, and motion control systems help customers offer cleaner, more reliable, and more efficient equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is a global company headquartered in Fort Collins, Colorado, USA. Visit our website at www.woodward.com, and connect with us at www.facebook.com/woodwardinc.

Notice Regarding Forward-Looking Statements

The statements in this release concerning the company's future sales, earnings, business performance, prospects, and the economy in general reflect current expectations and are forward-looking statements that involve risks and uncertainties, including the expectation that Woodward will drive long-term growth and profitability, reduce costs and overhead to gain efficiencies, drive process enhancements, and accelerate the implementation speed of company-wide projects. Actual results could differ materially from projections or any other forward-looking statement and we have no obligation to update our forward-looking statements. Factors that could affect performance and could cause actual results to differ materially from projections and forward-looking statements are described in Woodward's Annual Report and Form 10-K for the year ended September 30, 2016, which we expect to file shortly.

CONTACT:
Tracy Gohari
Director, Business Communications
970-498-3126



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