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) August 26, 1999
TOYS "R" US, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-11609 22-3260693
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
461 From Road, Paramus, New Jersey 07652
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (201) 262-7800
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(Former name or former address, if changed since last report.)
<PAGE>
ITEM 5. OTHER EVENTS.
Filed herewith is a copy of the press release, dated August 26,
1999, issued by Toys "R" Us, Inc. (the "Company"), announcing the
resignation of Robert C. Nakasone as Chief Executive Officer and
director of the Company and the appointment of Michael Goldstein as
acting Chief Executive Officer.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
(99) Press Release, dated August 26, 1999.
<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.
TOYS "R" US, INC.
By: /s/ Louis Lipschitz
--------------------------------
Executive Vice President and Chief
Dated: August 27, 1999 Financial Officer
<PAGE>
TOY "R" US, INC.
FORM 8-K
CURRENT REPORT
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
(99) Press Release, dated August 26, 1999.
FOR IMMEDIATE RELEASE
CONTACT:
MEDIA:
Rebecca A. Caruso
Toys "R" Us
201/599-8090
FINANCIAL:
Louis Lipschitz
Toys "R" Us
201/802-5548
Lawrence A. Rand
Kekst and Company
212/593-2655
NAKASONE RESIGNS AS TOYS "R" US CEO
MICHAEL GOLDSTEIN NAMED ACTING CEO
Paramus, New Jersey, August 26, 1999 - Toys "R" Us, Inc. (NYSE: TOY),
announced that Robert C. Nakasone, resigned effective today, as Chief
Executive Officer. He also resigned as director of the company.
Michael Goldstein, Chairman of the Board and the former CEO, was named acting
Chief Executive Officer. The company's Board of Directors has organized a Search
Committee to work with Bob Kerson of Levy/Kerson, an executive recruitment firm
that has been retained to begin an immediate search for Mr.
Nakasone's replacement.
Mr. Goldstein said that Mr. Nakasone's decision was based on "differing views
regarding the direction of the company." Mr. Goldstein has already stepped
into his role as acting Chief Executive Officer.
Mr. Goldstein joined Toys "R" Us in 1983 as Senior Vice President and Chief
Financial Officer. He was named Vice Chairman of the Board in 1989 and Chief
Executive Officer in 1994. Mr. Goldstein held that position until being
named Chairman in 1998.
Toys "R" Us, the world's leading resource on kids, families and fun, currently
operates 1,472 stores: 705 toy stores in the United States; 438 international
toy stores, including franchise stores; 210 Kids "R" Us children's clothing
stores; and 119 Babies "R" Us stores. The company also sells merchandise through
its Internet site at http://www.toysrus.com and through mail order catalogs.
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