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) June 11, 1999
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JITNEY-JUNGLE STORES OF AMERICA, INC.
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(Exact name of registrant as specified in its charter.)
MISSISSIPPI 33-80833 64-0280539
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification Number)
incorporation)
1770 Ellis Avenue, Suite 200, Jackson, MS 39204
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(Address of Principal Executive Offices - Zip Code)
(601) 965-8600
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(Registrant's telephone number, including area code)
N/A
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(Former name and former address, if changed since last report.)
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Item 5. Other Events.
On June 8, 1999, the Company announced the resignation of Michael E. Julian,
Chairman of the Board and Chief Exective Officer, and Richard D. Coleman,
Chief Financal Officer. The Company named Ronald E. Johnson as Chief
Executive Officer and reappointed David R. Black as Chief Financial
Officer. Attached as exhibit 99.1 is the related press release, which
is incorporated by reference.
Item 7. Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits.
Exhibit No. Description
99.1 Jitney-Jungle Stores of America, Inc.
Press Release, dated June 9, 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.
JITNEY-JUNGLE STORES OF AMERICA, INC.
By: /S/David R. Black
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David R. Black
Senior Vice President and
Chief Financial Officer
Date: June 9, 1999
JITNEY-JUNGLE STORES OF AMERICA, INC.
ANNOUNCES MANAGEMENT CHANGES
-- Ronald E. Johnson Promoted To Chief Executive Officer;
David R. Black To Resume Responsibilities As Chief Financial Officer --
JACKSON, MS, June 9, 1999 -- Jitney-Jungle Stores
of America, Inc. today announced a number of
management changes as the Company evaluates
strategic options to maximize shareholder value. The
changes include the following:
Ronald E. Johnson, currently President and Chief
Operating Officer of the Company, has been named
Chief Executive Officer. He succeeds Michael E.
Julian, who has resigned from the Company to
address personal matters. Mr. Julian will continue
to consult with the Company.
David R. Black, currently Senior Vice President -
Finance and Assistant Secretary of the Company,
has been reappointed Chief Financial Officer, a
position he held from May 1996 through January
1999. Mr. Black succeeds Richard D. Coleman,
who has resigned from the Company to devote more
time to his family.
Roger P. Friou, currently a member of Jitney-
Jungle's Board of Directors, has been named a
consultant to the Company. Mr. Friou served as
President of Jitney-Jungle from March 1996 to May
1997 and, from 1991 to 1996, as Vice Chairman,
Chief Financial Officer and Secretary.
Before joining Jitney-Jungle in December of 1997 as
President and COO, Mr. Johnson, 49, served as
Chairman, President and CEO of Farm Fresh, a
supermarket chain based in Norfolk, Virginia, from
February 1997 to March 1998. From January 1995 to
January 1997, Mr. Johnson was Chairman, President
and CEO of Kash n' Karry Food Stores, Inc. in Florida.
Mr. Johnson began his professional career at Harris-
Teeter and held management positions at Food Lion,
Bi-Lo, Food Giant and Richfood. In addition to his
role as President and COO of the Company, Mr.
Johnson has served on the Board of Directors of the
Company since May 1996.
In announcing his resignation, Mr. Julian said, "Ron
Johnson is a seasoned supermarket CEO with a proven
track record of success. In leaving the Company to
address my own personal matters, I feel confident that I
have left it in competent and capable hands. Ron has
been a terrific business partner for many years and will
prove to be a strong leader for the Company in the years
ahead."
Mr. Johnson said, "I am pleased to have this
opportunity to lead Jitney-Jungle at this important time
in the Company's history. I look forward to continuing
our long tradition of working closely with our
associates and vendors to deliver outstanding service
and value to our customers."
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"I am grateful for Mike Julian's many contributions to
our Company and wish him the best. Likewise, it is
with regret that the Board has accepted Rick Coleman's
resignation. However, we sympathize with his desire to
spend more time in Tampa with his family. Since
joining the Company in January of this year, Rick has
commuted on a weekly basis, which I know has placed
a burden on him. We appreciate his assistance and
thank him for his efforts."
"The Company feels fortunate to be able to reappoint
David Black as CFO. David needed to attend to some
personal matters earlier this year and we are glad to
have him back. He and I are looking forward to
working closely with Roger Friou, whose knowledge of
the Company's operations, accounting and finance
functions is unparalleled."
Mr. Johnson concluded, "While transitioning a
company's leadership is never simple, we are fortunate
to have a deep and experienced management team."
The Company reported that its borrowings under its
secured credit facility has decreased since the end of the
first quarter. The Company is continuing its efforts to
finalize a new, supplemental credit facility. As
previously noted, the Company's Board is continuing
its review of potential strategic combinations.
Jitney-Jungle currently operates 196 supermarkets, 10
liquor stores and 55 gasoline stations located
throughout Mississippi, Alabama and Louisiana, and in
Tennessee, Florida and Arkansas.
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Contact:
R. Barry Cannada
Chief Administrative Officer
Jitney-Jungle Stores of America, Inc.
(601) 346-2204
