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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) MAY 3, 1999
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HYPERION SOLUTIONS CORPORATION
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(EXACT NAME OF REGISTRATION AS SPECIFIED IN CHARTER)
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DELAWARE 000-26934 77-0277772
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(STATE OR OTHER JURISDICTION OF (COMMISSION (IRS EMPLOYER IDENTIFICATION NO.)
INCORPORATION FILE NUMBER)
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1344 CROSSMAN AVENUE, SUNNYVALE, CALIFORNIA 94089
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
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REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (408) 744-9500
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 5. OTHER EVENTS
In a press release dated May 3, 1999, the Board of Directors of
Hyperion Solutions Corporation ("Hyperion") (Nasdaq:HYSL) announced that it had
removed Hyperion's President and Chief Executive Officer, John Dillon, and
Hyperion's Senior Vice President of Worldwide Sales, William B. Binch. Stephen
V. Imbler, Hyperion's Senior Vice President and Chief Financial Officer, will
serve as President and Chief Executive Officer on an interim basis. The Board of
Directors also announced that it will commence a search for a new President and
Chief Executive Officer.
The information which is set forth in the Registrant's Press
Release dated May 3, 1999 is incorporated by reference.
ITEM 7. EXHIBITS
(c) EXHIBITS:
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Exhibit
Number
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99.1 Text of Press Release dated May 3, 1999.
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SIGNATURES
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.
Hyperion Solutions Corporation
(Registrant)
Date: May 17, 1999 By: /s/ Stephen V. Imbler
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Stephen V. Imbler
Interim President, Interim Chief
Executive Officer, Senior Vice
President and Chief Financial
Officer
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HYPERION SOLUTIONS CORPORATION
EXHIBIT INDEX
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Exhibit
Number
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99.1 Text of Press Release dated May 3, 1999.
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EXHIBIT NUMBER 99.1
FOR IMMEDIATE RELEASE
MONDAY MAY 3, 9:15 AM EASTERN TIME
COMPANY PRESS RELEASE
HYPERION ANNOUNCES MANAGEMENT CHANGES
SUNNYVALE, Calif.--(BUSINESS WIRE)--May 3, 1999--The Board of Directors of
Hyperion (Nasdaq:HYSL news) announced today that it has removed John M. Dillon,
President and CEO, and William B. Binch, Sr. Vice President of Worldwide Sales,
from the company's executive management team.
Stephen V. Imbler, the company's Senior Vice President and Chief Financial
Officer, will serve as President and CEO on an interim basis. The Board also
announced that it will commence a search for a new President and CEO.
About Hyperion
The worldwide analytic application software leader, Hyperion (Nasdaq:HYSL -
news) gives today's knowledge workers the "freedom to succeed" with software,
services and partner offerings that help them understand and optimize their
businesses. More than 5,500 organizations worldwide use Hyperion's family of
analytic application software, which includes market-leading packaged analytic
applications, and OLAP server technology and tools. Hyperion's customers include
more than 60 of the Fortune 100 and more than 40 of the Financial Times European
Top 100 companies.
In addition, more than 300 leading data warehousing, OLAP tools, services, ERP,
packaged application, and platform alliance partners extend the value of
Hyperion's products and services to deliver maximum flexibility and choice to
customers. Headquartered in Sunnyvale, California, the company has offices in 26
countries. Information on Hyperion's products and services is available at
http://www.hyperion.com, [email protected], or 1-800-286-8000.
Except for the historical information contained in this release, the matters
discussed herein are forward-looking statements that involve risks and
uncertainties. Actual events and the company's future results could vary
significantly because of factors such as product ship schedules, life cycles,
terms and conditions, product mix, the impact of competitive products and
pricing, customer demand, technological shifts, difficulties in implementing
alliances, whether the process of effecting the Arbor Software/Hyperion Software
business combination can be effectively managed to realize the synergies
anticipated to result therefrom, and whether the merger itself causes
uncertainty in the marketplace or customer hesitation. For a more detailed
discussion of factors that affect the company's operating results and could
cause actual results to differ materially from those in forward-looking
statements, interested parties should review the company's filings with the
Securities and Exchange Commission, including the Quarterly Report on Form 10-Q
filed on February 16, 1999 for the quarter ended December 31, 1998, the
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Quarterly Report on Form 10-Q filed on November 16, 1998 for the quarter ended
September 30, 1998, the Current Report on Form -K filed on October 13, 1998, the
Registration Statement on Form S-8 filed on August 26, 1998, as amended, the
Registration Statement on Form S-3 filed on August 18, 1998, as amended, the
Quarterly Report on Form 10-Q filed on August 13, 1998 for the quarter ended
June 30, 1998, the Current Report on Form 8-K filed on August 10, 1998, the
definitive proxy statement included in the Registration Statement on Form S-4
filed on June 18, 1998, as amended, the Current Report on Form 8-K filed on June
17, 1998, the Registration Statement on Form S-3 filed on June 12, 1998, as
amended, the Annual Report on Form 10-K filed on June 10, 1998 for the year
ended March 31, 1998, and the Current Report on Form 8-K filed on May 29, 1998.
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Contact:
Hyperion
Kevin McCarty, (408) 220-8405 (IR)
[email protected]
Alan Mangelsdorf, (203) 703-3137 (PR)
[email protected]
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