SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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|Item 2.02|| |
Results of Operations and Financial Condition
Teradata Corporation (“Teradata” or the “Company”) expects to announce financial results for the quarter ended September 30, 2020 on November 5, 2020. Although final results will not be available until the Company’s normal quarter-end review procedures are completed, Teradata currently expects its third-quarter 2020 recurring revenue to exceed its guidance announced on August 6, 2020. Teradata will not be providing any additional information regarding its third-quarter performance until it reports final results on November 5, 2020.
The information contained in this Item 2.02 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
|Item 5.02|| |
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On October 12, 2020, Scott Brown notified the Company of his decision to resign from his position as Chief Revenue Officer of Teradata, effective as of October 30, 2020, having accepted an offer to become president and chief executive officer of a privately-held technology company based in Silicon Valley that does not compete with Teradata. Mr. Brown’s resignation is not due to any disagreement with Teradata or any matters relating to the Company’s operations, financial statements, internal controls, auditors, policies or practices. Teradata is retaining an executive search firm to assist in the search process for a new chief revenue officer and will consider both internal and external candidates.
This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934. Forward-looking statements generally relate to opinions, beliefs and projections of expected future financial and operating performance, business trends, and market conditions, among other things. These forward-looking statements are based upon current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially, including the factors discussed in this Current Report on Form 8-K and those relating to: the global economic environment and business conditions in general or on the ability of our suppliers to meet their commitments to us, or the timing of purchases by our current and potential customers; the rapidly changing and intensely competitive nature of the information technology industry and the data analytics business; fluctuations in our operating results, including as a result of the pace and extent to which customers shift from perpetual to subscription-based licenses; our ability to realize the anticipated benefits of our business transformation program or other restructuring and cost saving initiatives; risks inherent in operating in foreign countries, including foreign currency fluctuations; risks associated with the ongoing and uncertain impact of COVID-19 on our business, financial condition and operating results, including the impact of COVID-19 on our customers and suppliers; risks associated with data privacy, cyberattacks and maintaining secure and effective internal information technology and control systems; the timely and successful development, production or acquisition and market acceptance of new and existing products and services; tax rates; turnover of workforce and the ability to attract and retain skilled employees; protecting our intellectual property; the availability and successful exploitation of new alliance and acquisition opportunities; recurring revenue may decline or fail to be renewed; the impact on our business and financial reporting from changes in accounting rules; and other factors described from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2019 and subsequent quarterly reports on Forms 10-Q, as well as the Company’s annual report to stockholders. Teradata does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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.
|Margaret A. Treese|
Dated: October 15, 2020