SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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) June 11, 1997
Performance Technologies, Incorporated
(Exact name of registrant as specified in its charter)
Delaware 0-27460 16-1158413
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
315 Science Parkway, Rochester, New York 14620
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (716) 256-0200
(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events.
On June 11, 1997, the Registrant issued the following press release:
PERFORMANCE TECHNOLOGIES APPOINTS
NEW CHIEF EXECUTIVE OFFICER
ROCHESTER, NY -- June 11, 1997 -- Performance Technologies, Inc. (NASDAQ: PTIX)
announced today the appointment of Donald L. Turrell as Chief Executive Officer
for the Company. Former CEO, Charles E. Maginness, will continue in his current
capacity as Chairman of the Board for PTI and will actively work with the
Company's Board in the development of long range strategies and business
opportunities to ensure continued growth and profitability for the
communications and networking company. Maginness will also retain his current
position as Chief Executive Officer of the Company's San Diego based subsidiary,
UconX Corporation.
In addition to his new role as CEO, Turrell will also continue in his
present position as President and Chief Operating Officer, responsible for
managing the day-to-day operations of Performance Technologies.
"Several months ago, I indicated to the Board of Directors the time was
appropriate to develop a management transition plan that would provide a
seamless transfer of my management responsibilities over time," said Maginness
at the Company's Annual Meeting of Shareholders. "Today's announcement
represents the first phase of that plan. I look forward to continuing my role as
Chairman and focusing my efforts on the development and implementation of
strategic business activities which support our evolving long term corporate
objectives."
Regarding the transition of his CEO responsibilities, Maginness continued,
"Don Turrell has been instrumental in the development and growth of Performance
Technologies. He is a uniquely qualified individual. During the 13 years Don has
been with PIT, we have worked closely to develop a company that, today, has an
established reputation for delivering quality products and services to selected
niche markets. We will continue to work closely together and I look forward to
that relationship from a personal, as well as a professional, perspective. I
know the leadership skills Don has demonstrated in the past represent an
invaluable asset to Performance Technologies as we take the necessary steps to
position the Company for the next significant phase of its evolution."
Performance Technologies, Inc., designs, manufacturers and markets a wide
variety of fault-tolerant, high performance communications, networking and data
storage interface systems products. The Company's products are targeted towards
high-performance, mission-critical networking solutions used in
telecommunications, financial services, defense and transportation. Performance
Technologies, Inc. is publicly traded on the NASDAQ stock exchange under the
symbol PTIX. For further information, visit PTI's World Wide Web site at
htt://www.pt.com.
<PAGE>
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.
PERFORMANCE TECHNOLOGIES, INCORPORATED
By: /s/Donald L.Turrell
-------------------
Donald L. Turrell
CEO/President
Dated: June 24, 1997
<PAGE>
INDEX TO EXHIBITS
(1) Underwriting agreement
Not Applicable.
(2) Plan of acquisition, reorganization, arrangement, liquidation or
succession
Not Applicable.
(4) Instruments defining the rights of security holders, including indentures
Not Applicable.
(16) Letter re change in certifying accountant
Not Applicable.
(17) Letter re director resignation
Not Applicable.
(21) Other documents or statements to security holders
Not Applicable.
(24) Consents of experts and counsel
Not Applicable.
(25) Power of attorney
Not Applicable.
(27) Financial Data Schedule
Not Applicable.
(99) Additional Exhibits
None.
