SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
August 19, 2008 (August 15, 2008)
Date of Report (Date of earliest event reported)
CRAFT BREWERS ALLIANCE, INC.
(Exact Name of Registrant as Specified in Charter)
Washington 0-26542 91-1141254
(State or Other Jurisdiction (Commission file number) (I.R.S. Employer
of Incorporation) Identification No.)
929 North Russell
Portland, Oregon 97224
(Address of Principal Executive Offices, Zip Code)
(503) 331-7270
(Registrant's Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On August 15, 2008, pursuant to his agreement regarding employment with the
Company, Mr. Jay T. Caldwell resigned as Chief Financial Officer and Treasurer
of Craft Brewers Alliance, Inc. (the "Company") following the filing of the
Company's quarterly report on Form 10-Q for the quarter ended June 30, 2008.
Upon Mr. Caldwell's resignation, and as previously disclosed in the Company's
current report on Form 8-K filed on July 2, 2008, Mr. Mark D. Moreland, age 43,
the Company's Chief Accounting Officer, was promoted to Chief Financial Officer
and Treasurer. Mr. Moreland has served as Chief Accounting Officer of the
Company since July 1, 2008. From April 1, 2008 to June 30, 2008, Mr. Moreland
served as Chief Financial Officer of Widmer Brothers Brewing Company. From July
2006 to November 2007, he was Executive Vice President and Chief Financial
Officer of Knowledge Learning Corporation (KLC), the $1.7 billion parent company
of the KinderCare early childhood education business. From July 2005 to June
2006, he held Interim CFO and Senior Vice President - Finance and Treasurer
roles with Movie Gallery, Inc., which operates the Movie Gallery and Hollywood
Entertainment video rental chains. From August 2002 to July 2005, he was Senior
Vice President, Finance and Treasurer of Hollywood Entertainment Corporation,
which was acquired by Movie Gallery in April 2005. Movie Gallery and each of its
U.S. affiliates, including Hollywood Entertainment, filed voluntary petitions
under Chapter 11of the U.S. Bankruptcy Code on October 16, 2007. Their plan of
reorganization was confirmed by the Bankruptcy Court on April 10, 2008. Mr.
Moreland also previously worked with Kmart Corporation, Deloitte Consulting,
Blue Shield of California and the U.S. General Accounting Office. Mr. Moreland
earned an MBA from the University of Michigan and a B.S. in Economics from the
University of Texas at Arlington.
Mr. Moreland's compensation was not adjusted upon his promotion to Chief
Financial Officer and Treasurer, and his letter agreement with the Company was
not amended. A copy of the letter agreement with Mr. Moreland was filed as
Exhibit 10.5 to the Company's current report on Form 8-K filed on July 2, 2008.
Effective August 15, 2008, Mr. Joseph K. O'Brien was appointed by the Board of
Directors to the office of Controller and Principal Accounting Officer. Since
July 1, 2008, Mr. O'Brien, age 50, has served as the Company's Controller. From
April 7, 2008 to June 30, 2008, Mr. O'Brien served as the Corporate Controller
of Widmer Brothers Brewing Company, and from March 2007 to April 2008, he served
as the West Coast Controller for the Metals Recycling Business of Schnitzer
Steel Industries, Inc. From January 1997 to July 2006, Mr. O'Brien was Vice
President, Chief Financial Officer and Secretary of Phoenix Gold International,
Inc., a manufacturer and distributor of car, professional sound and home audio
products. From September 1981 to December 1996, he was a certified public
accountant with Deloitte & Touche LLP. Mr. O'Brien earned a Bachelor's Degree in
Business Administration and an MBA from Portland State University.
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Mr. O'Brien will serve as an "at-will" employee of the Company. Mr. O'Brien will
receive an annual base salary of $125,000 per year, subject to review and annual
adjustment. Mr. O'Brien will also be eligible for an annual discretionary bonus
of 20% of his base salary, and will be entitled to participate in all of the
Company's employee benefit programs for which he is eligible.
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SIGNATURE
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.
CRAFT BREWERS ALLIANCE, INC.
Dated: August 19, 2008 By: /s/ David J. Mickelson
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David J. Mickelson
Co-Chief Executive Officer
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