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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, 1999
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COLOR SPOT NURSERIES, INC.
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(Exact name of Registrant as specified in charter)
Delaware
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(State or other jurisdiction of incorporation)
000-23483 68-0363266
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(Commission File Number) (IRS Employee Identification No.)
3478 Buskirk Avenue, Pleasant Hill, California 94523
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (925) 934-4443
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. OTHER EVENTS.
News Release dated June 11, 1999, filed as Exhibit 20.1 to this Current
Report on Form 8-K, is incorporated by reference herein.
Item 7. EXHIBITS.
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Exhibit Number Description
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20.1 News Release dated June 11, 1999.
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SIGNATURE
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.
PLC SYSTEMS INC.
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(Registrant)
Date: June 17, 1999 By: /s/ JOSEPH P. O'NEILL
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Joseph P. O'Neill
Chief Financial Officer
EXHIBIT INDEX
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Exhibit Page
Number Description Number
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20.1 News Release dated June 11, 1999. 3
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2
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Exhibit 20.1
FOR IMMEDIATE RELEASE
COLOR SPOT'S VUKELICH AND BOARD OF DIRECTORS
NAME NEW CEO, CFO TO BOLSTER SENIOR MANAGEMENT TEAM
FOUNDER TO CONTINUE IN COMPANY LEADERSHIP AS BOARD CHAIRMAN
PLEASANT HILL, CA. - JUNE 11, 1999 - Michael F. Vukelich, Chairman of the
Board of Color Spot Nurseries, Inc. today announced the appointment of
Richard Parker as Chief Executive Officer of the Company. Mr. Vukelich will
continue to serve as Chairman of the Board of Directors.
Mr. Vukelich said, "In the past year, Color Spot has focused on several key
initiatives to strengthen our business - assembling a team of outstanding
managers, improving our operations, leveraging our leading market position
and strengthening our financial performance. We have made great strides in
all of these areas, and we are now well positioned to enhance further Color
Spot's unique position of leadership in the wholesale nursery business. With
the Company strong and poised for the future, this is the right time to make
changes in our senior management.
"It is with great personal enthusiasm," he continued, "that I welcome Dick
Parker as our new Chief Executive Officer. Color Spot is extremely fortunate
to have an experienced, skilled and dynamic executive of Dick Parker's high
caliber assume this position. I look forward to working closely with Dick,
Raju Boligala, our President and COO, and the entire senior management team
of the Company in continuing the tradition of quality and customer service
that has been Color Spot's trademark since I founded the Company in 1983."
Mr. Vukelich also announced the appointment of Joseph O'Neill, 41, as
Executive Vice President, Administration, and Chief Financial Officer of
Color Spot. Carlos Plaza, currently CFO, will continue within the finance
organization and report to Mr. O'Neill.
Mr. Parker said, "Thanks to the vision and the stewardship of Michael
Vukelich, Color Spot has unlimited potential to continue to serve its
customers and grow with them while further leveraging its strong fundamentals
to consolidate the nursery industry. I am enthusiastic about becoming part
of the management team that is going to realize that potential."
Mr. Parker, 58, has served as President and Chief Operating Officer of ABTCo
since August 1998. He has been with the Neenah, Wisconsin-based building
products manufacturer since its inception in 1992, serving first as Executive
Vice President of the Hardboard/Plastics Division and later as Executive Vice
President of the Interior Products Group. ABTCo is a major producer of
specialty building products such as
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interior paneling and mouldings and exterior siding and accessories. Mr.
Parker holds a BA in botany from Depauw University and a BS in forestry from
the University of Michigan.
Mr. O'Neill, 41, has served as Vice President, Finance, and Chief Financial
Officer of ABTCo since January 1998. He also joined the company at its
inception in 1992, serving first as Controller and later as Vice President,
Finance-Controller. Through his tenure at the building products company with
Mr. Parker, he has had extensive exposure to Color Spot's customer base. Mr.
O'Neill holds a BA in accounting from the State University of New York. He
is a Certified Public Accountant.
Color Spot is the largest wholesale nursery in the United States, based on
revenue and greenhouse square footage. The Company provides a wide
assortment of high-quality plants as well as extensive merchandising services
to leading home centers and mass merchants and leading independent garden
centers. The Company distributes product to over 850 retail and commercial
customers, representing more than 8,000 locations, primarily in the western
and southwestern regions of the United States.
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CONTACT: John Burke
Robinson Lerer & Montgomery
(212) 484-7541
