Barnes Group Inc. is promoting finance officer Marian Acker to vice president and controller of the Bristol manufacturing and logistics services company, effective New Year’s Day, according to a regulatory filing.
Acker, 47, will succeed Francis C. Boyle Jr., who on Feb. 28 will retire as Barnes’ finance vice president and chief accounting officer, Barnes said in a filing with the Securities and Exchange Commission.
Barnes’ various divisions make automotive and aerospace components, and provide procurement services for companies in the U.S. and abroad.
According to the form 8-K filing, Acker joined Barnes in 1993 and has held various positions of increasing responsibility in the finance group since then.
She will continue at her current annual salary of $220,000 until Feb. 8, when the board will consider salary actions for all Barnes officers, the SEC filing said.
Acker remains in the executive bonus pool, in which she is eligible for a bonus ranging from 35 percent to 105 percent of her base salary depending on the company’s financial performance, documents show.
But Acker will earn some perks right away. Among other things, she will collect $20,000 a year to cover a car and its expenses, plus club memberships, cell phones and PDAs, the filing said.
She also gets a company-paid life insurance policy equal to four times her annual salary, or at least $880,000, the filing said.
Acker will get a severance agreement protecting her, same as its other executives, in the event Barnes is sold or taken over.