Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 1, 2008, Robert J. Eck, age 50, became President and Chief Executive Officer of Anixter International Inc. (the "Company"). Mr. Eck has served as the Company’s Executive Vice President and Chief Operating Officer since September 2007. For additional information, reference is made to the Company's Current Report on Form 8-K, dated February 25, 2008, and is incorporated herein by reference.
In connection with his appointment as President and Chief Executive Officer, on July 1, 2008, Mr. Eck’s base salary was increased to $600,000 and his target bonus was increased to $550,000. In addition, Mr. Eck received, on July 1, 2008, a long-term stock incentive valued at $600,000. The long-term stock incentive value was delivered 50% in employee stock options and 50% in restricted stock units based on the Company’s closing stock price on July 1, 2008.
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 hereunto duly authorized.
| Anixter International Inc. | ||||
| July 7, 2008 | By: |
Dennis J. Letham
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| Name: Dennis J. Letham | ||||
| Title: Executive Vice-President - Finance and Chief Financial Officer | ||||