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  "documentTitle": "Mettler-Toledo International, Inc. (MTD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-07-24 00:00:00",
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  "notes": "The slide uses a callout box to highlight the activist's concern regarding governance and internal controls.",
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      "kind": "callout",
      "text": "William Donnelly was Mettler's CFO from 1997 – 2002 and 2004 – 2015 and a former PwC accountant. He was brought back into the CFO role in 2004 to “improve” the finance and accounting function after allegations were raised by an anonymous employee. According to his biography, Donnelly had wide ranging responsibility including Investor Relations, Finance, Supply China Management, Information Technology, and the Blue Ocean Program (and at times signed the 10-K as Principal Accounting Officer). Spruce Point is concerned that his overarching roles did not provide adequate separation of duties. Per his employment agreement, his transition out of the Company started in November 2016 and was finalized in 2018. (1,2)",
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      "kind": "callout",
      "text": "Spruce Point is concerned that his overarching roles did not provide adequate separation of duties.",
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      "text": "William P. Donnelly joined the Company in 1997 and has been Executive Vice President since January 2014. He previously served as Chief Financial Officer of the Company since 1997, except for a two-year period when he ran the Company's Product Inspection and Pipette businesses. Mr. Donnelly is responsible for Investor Relations, Finance, Supply Chain Management, Information Technology, and the Company's Blue Ocean Program.",
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      "text": "1. Donnelly employment agreement, Nov 3, 2016\n2. He left Nov 2018 per the Q3'18 conference call",
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      "kind": "title",
      "text": "Mettler's Long-Time CFO: How Much Can One Man Handle?",
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