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Posted 29 February, 2024

Willdan Group, Inc. appointed new CEO

CEO Change detected for ticker Nasdaq:WLDN in a 8-K filed on 29 February, 2024.


  On December 29, 2023, Thomas D. Brisbin resigned as Chief Executive Officer of Willdan Group, Inc. (the "Company").  

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Overview of Willdan Group, Inc.
Business/Consumer Services • Technical Services
Willdan Group, Inc. engages in the provision of technical and consulting services. It operates through the Energy and the Engineering and Consulting segments. The Energy segment offers energy and sustainability consulting services to utilities, public agencies and private industry. The Engineering and Consulting segment provides civil engineering-related construction management, building and safety, city engineering office management, city planning, civil design, geotechnical, material testing and other engineering consulting services. The company was founded in May 1964 and is headquartered in Anaheim, CA.
Market Cap
$337M
View Company Details
Willdan Group, Inc. 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.




Consulting Agreement with Former Chief Executive Officer


On December 29, 2023, Thomas D. Brisbin resigned as Chief Executive Officer of Willdan Group, Inc. (the "Company"). In connection with Dr. Brisbin's resignation, the Company disclosed its intention to enter into a consulting agreement with Dr. Brisbin on terms to be approved by the Board of Directors of the Company (the "Board") and Audit Committee of the Board. 



On February 28, 2024, the Company entered into a consulting agreement (the "Consulting Agreement") with Dr. Brisbin. Pursuant to the Consulting Agreement, Dr. Brisbin is providing the Company with consulting services, including performing various tasks related to management transition, business development, technology development and other sales-related activities. For such services, Dr. Brisbin is paid $25,200 per month and the reimbursement of reasonable and necessary costs and expenses incurred in connection with providing services to the Company. During the term of the Consulting Agreement, Dr. Brisbin will remain eligible to vest in his outstanding equity awards pursuant to the terms of the Company's 2008 Performance Incentive Plan. The Consulting Agreement may be terminated by the Company or Dr. Brisbin at any time with 5 days' written notice. Prior to his resignation, Dr. Brisbin was employed by the Company pursuant to an employment agreement that expired by its terms with his resignation on December 29, 2023.


The foregoing description of the Consulting Agreement is qualified in its entirety by reference to the full text of the Consulting Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.