East Greenville, Pa.-based Knoll (NYSE: KNL ) has a new CFO today.
On Monday, the home and office furnishings manufacturer announced it has named Craig B. Spray to succeed outgoing Chief Financial Officer Barry McCabe as its new senior vice president and chief financial officer. The former chief financial officer for MasterBrand Cabinets at Fortune Brands Home & Security takes office at Knoll today.
Welcoming him aboard, Knoll CEO Andrew Cogan said in a statement that Spray brings "extensive experience as a senior financial officer in complex multi-channel manufacturing and design driven businesses. We look forward to leveraging his expertise, which includes a strong track record in supply chain transformation and information systems technology, as we continue to focus on revenue growth and margin improvement over the long term."
In a filing with the SEC, Knoll disclosed that it will pay Spray an annual base salary of $325,000, plus:
- a 2013 incentive bonus targeting $325,000, with $200,000 of that guaranteed;
- $75,000 for relocation expenses;
- up to $3,000 per month for temporary living expenses through the end of this year; and
- 110,000 restricted shares, vesting over three years.