CDW CFO Albert Miralles to retire in 2027, transition plan in place
CDW Corp disclosed that CFO Albert J. Miralles plans to retire by March 31, 2027, and will serve as an executive advisor through March 2028; the stock fell 4.34% on the day of the announcement.
What happened
CDW Corp (Nasdaq: CDW), a provider of technology products and services to businesses and government, announced on August 5, 2026 that Chief Financial Officer and Executive Vice President Albert J. Miralles intends to retire in 2027.
The company filed an 8-K with the SEC detailing the transition. Miralles will remain in his role until a successor is named, then serve as an executive advisor on a part-time basis through March 31, 2028. His compensation will drop sharply after March 2027 to a $60,000 annual salary and he will no longer be eligible for long-term incentives or severance benefits.
CDW issued a press release on August 5 to publicly disclose the transition. The stock closed at $135.81 on August 5, down 4.34% from the previous close of $141.97.
The filing details
The 8-K, filed on August 5, 2026, covers two disclosure items. Item 5.02 reports the departure of a key officer – here a planned retirement, not an immediate exit. Item 7.01 indicates the company voluntarily disclosed the news via a press release under Regulation Fair Disclosure (Reg FD), which requires public companies to release material information broadly to avoid selective disclosure.
According to the filing, Miralles notified CDW on August 3 of his intention to retire. He and CDW entered into a letter agreement on August 4 that outlines the terms: he stays as CFO until a successor is appointed, then transitions to an Executive Advisor role from that date until March 31, 2028. He will continue full-time through March 31, 2027 on his current compensation, after which his base salary drops to $60,000 and he loses eligibility for incentive awards and severance. He also will no longer have the right to resign for "Good Reason" under his existing Compensation Protection Agreement.
The filing includes two exhibits: the letter agreement (Exhibit 10.1) and the press release (Exhibit 99.1).
What this means
An 8-K filed under Item 5.02 is the standard way a public company reports changes in its executive leadership, including retirements, resignations, or new appointments. Item 7.01 is used when a company makes a voluntary public disclosure that it wants to distribute broadly but not necessarily incorporate into the official filing record for liability purposes – hence the press release is "furnished" rather than "filed."
Miralles's planned retirement is gradual: nearly two years from the announcement date to the end of his advisory term. This structured transition is common for large companies that want to retain institutional knowledge and ensure continuity during a CFO search. The compensation reduction after March 2027 – from his current base salary and bonus eligibility to a $60,000 base with no cash or equity incentives – signals a shift from full-time executive to part-time advisor.
The stock price decline of 4.34% on the day of the announcement was notable, but the filing does not provide a reason for the drop. It could reflect market reaction to the leadership change, or it could be unrelated. The 8-K itself does not explain the price movement.
Sources
- 8-K filed 2026-08-05
- SEC XBRL financial data
- Daily price history
Information summarized by AI from the sources listed above. May contain errors — informational only, not investment advice.