Northwest Pipe Co. Chief Financial Officer Stephanie Welty resigned from the company on Jan. 20, the company said Monday in a filing with the U.S. Securities and Exchange Commission. Robin Gantt was named CFO, and took on two other titles formerly held by Welty: vice president and corporate secretary. Gantt will receive an annual salary of $225,000.
Northwest Pipe will pay Welty $100,000 immediately, plus her $245,000 salary over the next year. The company also agreed to continue Welty’s health insurance for 18 months.
Welty is the second executive to resign from Northwest Pipe since Oct. 5, when President Brian Dunham left. Welty, Dunham and the company are named as defendants in a class action lawsuit filed by Northwest Pipe shareholders, which alleges they deliberately misled shareholders.
