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): October 12, 2010
WORLD
FUEL SERVICES CORPORATION
(Exact
name of registrant as specified in its charter)
Florida |
1-9533 |
59-2459427 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
9800 N.W. 41st Street, Suite 400 Miami |
33178 |
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including
area code: (305) 428-8000
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 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
(d) On October 12, 2010, the Board of Directors (the “Board”) of World Fuel Services Corporation (the “Company”) elected John L. Manley as a director of the Company. Mr. Manley will serve as a member of the Audit and Governance committees.
Mr. Manley will receive the compensation currently payable to non-employee directors, which consists of annual fees of $56,000 and annual equity awards consisting of restricted stock units with a grant date value of $70,000 and stock-settled stock appreciation rights with a grant date value of $60,000, in each case, prorated to reflect the commencement date of his service on the Board. The Company expects to enter into a Director Indemnification Agreement with Mr. Manley, the form of which was filed as Exhibit 99.2 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 24, 2003.
A copy of the Company’s press release announcing the election of Mr.
Manley is attached hereto as Exhibit 99.1 and incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits
(d) | Exhibits | ||
Exhibit No. |
Description |
||
99.1 | Press Release, dated October 13, 2010. |
SIGNATURES
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, thereunto duly authorized.
Date: |
October 14, 2010 |
World Fuel Services Corporation |
|
/s/ R. Alexander Lake |
|||
|
|
R. Alexander Lake |
|
Senior Vice President, General Counsel and |
|||
Corporate Secretary |
EXHIBIT INDEX
Exhibit |
Description |
|
99.1 |
Press Release, dated October 13, 2010. |
Exhibit 99.1
World Fuel Services Corporation Names John L. Manley to the Board of Directors
MIAMI--(BUSINESS WIRE)--October 13, 2010--World Fuel Services Corporation (“World Fuel Services” or the “Company”) (NYSE: INT) announced today that it has appointed John L. Manley to the Board of Directors of the Company.
Mr. Manley, 62, retired from Deloitte & Touche LLP (“Deloitte”) in 2009 after more than 27 years as a partner, the last three years of which Mr. Manley was Managing Partner of Deloitte’s Northeast Region Audit and Enterprise Risk Services Practice. While at Deloitte, Mr. Manley was also a member of the Northeast Region’s Executive Committee, Deloitte’s Audit and Enterprise Risk Services Executive Committee and Deloitte’s Board of Directors. Mr. Manley founded and was the National Director of Deloitte’s Regulatory Consulting Practice, which included practices in financial services, health care, government contracting, energy and utilities. Before joining Deloitte, Mr. Manley had seven years of regulatory experience with the Securities and Exchange Commission and the Commodity Futures Trading Commission (“CFTC”), including serving as the Chief Accountant and Director of the Division of Trading and Markets of the CFTC.
“John brings tremendous experience and specialized expertise to our board and we are delighted to have him join the team,” said Paul H. Stebbins, Chairman and Chief Executive Officer. Tom Presby, the Company’s lead independent director, stated that, “John’s deep understanding of today’s financial, accounting and regulatory environment will be invaluable to our fast growing global company.”
Mr. Manley will serve as a member of the Audit and Governance committees.
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global leader in the marketing and sale of marine, aviation and land fuel products, as well as related services. World Fuel Services sells fuel and delivers services to its clients at more than 6,000 locations in 200 countries, including airports, seaports, tanker truck loading terminals and other customer storage locations. With 44 strategically located global offices, World Fuel Services offers its clients a value-added outsource service for the supply, quality control, logistical support and price risk management of marine, aviation and land fuel.
The Company’s global team of market makers provides deep domain expertise in all aspects of marine, aviation and land fuel management. World Fuel Services’ marine customers include international container and tanker fleets and time-charter operators, as well as the United States and foreign governments. Aviation customers include commercial airlines, cargo carriers and corporate clientele, as well as the United States and foreign governments. Land customers include petroleum distributors, retail petroleum operators, and industrial, commercial and government accounts. For more information, call 305-428-8000 or visit http://www.wfscorp.com.
CONTACT:
World Fuel Services Corporation
Ira M. Birns, Executive
Vice President & Chief Financial Officer
or
Francis X. Shea,
Executive Vice President & Chief Risk and Administrative Officer,
305-428-8000