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Posted 16 May, 2023

Blue Bird Corp appointed Philip Horlock as new CEO

Nasdaq:BLBD appointed new Chief Executive Officer Philip Horlock in a 8-K filed on 16 May, 2023.


  On May 14, 2023, the Board of Directors appointed Philip Horlock as President and CEO of the Company.  

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Overview of Blue Bird Corp
Automotive • Commercial Vehicles
Blue Bird Corp. engages in the design and manufacture of school buses. It operates through the Bus and Parts segments. The Bus segment includes the manufacturing and assembly of school buses to be sold to a variety of customers across the United States, Canada, and in international markets. The Parts segment focuses on the purchases of parts from third parties to be sold to dealers within the company’s network and certain large fleet customers. The company was founded by Albert Laurence Luce in 1927 and is headquartered in Macon, GA.
Market Cap
$1.08B
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Blue Bird Corp by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


(b) On May 13, 2023, Matthew Stevenson, President and Chief Executive Officer ("CEO") and a Class II director of Blue Bird Corporation (the "Company"), tendered his resignation from employment and from our Board of Directors (the "Board"). The Board accepted Mr. Stevenson's resignation from his position as an officer and on the Board effective immediately and his employment with the Company will terminate effective June 5, 2023. Mr. Stevenson's decision was not based on any disagreement with the Company regarding its operations, policies or practices.


(c) On May 14, 2023, the Board of Directors appointed Philip Horlock as President and CEO of the Company. Mr. Horlock served as our CEO from 2015 (following the business combination in 2015) to October 2021, and served as President and CEO of School Bus Holdings from 2011 to October 2021. Mr. Horlock has been serving as an active consultant to the Company and as a Class III director since his retirement in December 2021.


Pursuant to the Consulting Agreement between Mr. Horlock and the Company, which commenced on January 1, 2022 and was to terminate on December 31, 2022, Mr. Horlock would receive cash compensation at the same rate as his previous annual salary of $800,000, plus reimbursement of service-related expenses (excluding self-employment taxes and medical insurance coverage), and provide substantial consulting services to the Company as requested by the Board or the CEO. By written agreement of the parties, the Consulting Agreement was suspended for a period of six months effective June 30, 2022, but recommenced on January 1, 2023 and was to terminate on June 30, 2023.


Mr. Horlock's compensation arrangements as our President and CEO have not been finalized as of the date of the filing of this Report. We will report such arrangements as required in another Current Report on Form 8-K.