UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 29, 2021, the board of directors (the “Board”) of Advantage Solutions Inc. (the “Company”) accepted the resignation of Elizabeth Muñoz from the Board and the Audit Committee of the Board. The resignation of Ms. Muñoz was not as a result of a disagreement with the Company on any matter relating to its operations, policies or practices.
The Board appointed Robin Manherz, effective as of October 1, 2021, as a Class II director to fill the vacancy left by Ms. Muñoz’s resignation and to serve until the Company’s 2022 annual meeting of stockholders or her earlier resignation, retirement or removal. Ms. Manherz will serve as a member of the Company’s Audit Committee.
Ms. Manherz will receive compensation in accordance with the Company’s standard non-employee director compensation package, which is more fully described under the caption “Director Compensation” in the Company’s proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 23, 2021, as may be adjusted by the Board from time to time.
Ms. Manherz is the Executive Vice President & Chief Operating Officer at SAP SE across Sales, Services, and Customer Engagement functions worldwide. Ms. Manherz brings 25 years of experience in technology and business. She was previously the Executive Vice President & Chief Performance Officer of SAP SE from February 2020 to June 2021. From July 2018 to February 2020, she served as the Senior Vice President, Global Corporate Portfolio Planning and Commercialization. She was also Chief Operating Officer of SAP SuccessFactors from January 2017 to July 2018. From 2007 to 2017, she held several executive positions within SAP SE, including Senior Vice President, Global Commercial Operations from September 2014 to January 2017. She received a Bachelor of Science degree, summa cum laude, in Management from the Georgia Institute of Technology.
There are no arrangements or understandings pursuant to which Ms. Manherz was appointed to the Board, and there have been no transactions since the beginning of the Company’s last fiscal year or any currently proposed transaction in which the Company was or is to be a participant and the amount involved exceeds $120,000, and in which Ms. Manherz had or will have a direct or indirect material interest.
A copy of the Company’s press release announcing the appointment of Ms. Manherz to the Board is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
|
Exhibit No. |
Description |
| 99.1 | Press Release issued by Advantage Solutions Inc., dated October 1, 2021. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
Dated: October 1, 2021
| ADVANTAGE SOLUTIONS INC. | ||
| By: | /s/ Brian Stevens | |
| Brian Stevens | ||
| Chief Financial Officer and Chief Operating Officer | ||
Advantage Solutions Names SAP’s Robin Manherz to Its Board of Directors
Technology executive brings experience in investment strategy, transformative change and finance
Irvine, Calif., Oct. 1, 2021 (GLOBE NEWSWIRE) — Advantage Solutions (Nasdaq: ADV) has appointed Robin Manherz to its board of directors.
Manherz serves as executive vice president and chief operating officer across all sales, services and customer engagement functions globally at SAP, the world’s largest provider and market leader in enterprise application software.
In July 2021, Torrid Holdings Inc. completed its initial public offering. Elizabeth Munoz, who serves as CEO of Torrid Holdings, has stepped down from her role as director of Advantage Solutions.
“Robin’s extensive experience as a global technology and operations executive at a customer-focused business makes her an excellent addition to the Advantage Solutions board,” said Advantage Solutions Board Chair Jim Kilts. “We’re thrilled to welcome Robin during this exciting and transformative time for our company, as we continue to increase value to our clients and customers by meeting their fast-changing needs and solving tomorrow’s problems.”
“Robin is a people- and growth-focused executive and expert in leveraging technology to enable digital transformation and positive business outcomes,” noted Advantage CEO Tanya Domier. “Her experience driving the definition, harmonization, standardization and automation of SAP’s processes, systems and data to reduce complexities and cost — while accelerating growth — will be invaluable to our own dynamic journey. We’re fortunate to be benefiting from Robin’s leadership and insights as we evolve our core services, build out new capabilities and focus on operating as an efficient and effective company as we deliver growth for our shareholders. We also want to thank Elizabeth for her contributions to Advantage as director.”
At SAP, Manherz has responsibility for operationalizing the company’s strategy through accelerated growth and transformation, including execution of next-generation business and operating models that maximize value for customers globally. She also has brought SAP’s vision to life through industry-leading pricing practices and commercial models by simplifying and optimizing core business processes along the value chain and by delivering world-class experiences informed by its customers, employees, products and brand. Manherz’s leadership has also included SAP’s own internal digital transformation spanning people, processes, data and systems.
Since joining SAP in 2007, Manherz has held an array of executive roles with a focus on capital investment strategy, portfolio planning, industry value engineering, channel management, strategic planning and execution, sales operations and finance. Prior to SAP, Manherz held professional and leadership roles with JD Edwards, USA.NET and QAD.
National Office • 15310 Barranca Parkway • Suite 100 • Irvine, CA 92618
(949) 797-2900 • www.advantagesolutions.net
About Advantage Solutions
Advantage Solutions is a leading business solutions provider committed to driving growth for consumer goods manufacturers and retailers through winning insights and execution. Advantage’s data and technology-enabled omnichannel solutions — including sales, retail merchandising, business intelligence, digital commerce and a full suite of marketing services — help brands and retailers across a broad range of channels drive consumer demand, increase sales and achieve operating efficiencies. Headquartered in Irvine, California, Advantage has offices throughout North America and strategic investments in select markets throughout Africa, Asia, Australia and Europe through which it services the global needs of multinational, regional and local manufacturers. For more information, please visit advantagesolutions.net.
Contact
Will Minton
Vice President, Corporate Marketing & Communications
Advantage Solutions
press@advantagesolutions.net
National Office • 15310 Barranca Parkway • Suite 100 • Irvine, CA 92618
(949) 797-2900 • www.advantagesolutions.net