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):
February 12, 1997
ALLEGHENY TELEDYNE INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 1-12001 25-1792394
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1000 SIX PPG PLACE, PITTSBURGH, PENNSYLVANIA 15222-5479
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 412-394-2800
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Item 5. Other Events
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On February 12, 1997, the registrant issued a press release announcing
that its President and Chief Executive Officer, William P. Rutledge, had
tendered his resignation as an officer, and that the registrant's Chairman,
Richard P. Simmons, will serve as President and Chief Executive Officer. During
the transition, Mr. Rutledge will be available to assist Mr. Simmons with
respect to the registrant's non-metals businesses. A copy of the text of the
press release is attached hereto as Exhibit 99.1 and is incorporated herein by
reference, and the foregoing summary is qualified in its entirety by reference
to such Exhibit.
Item 7. Financial Statements and Exhibits
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits. The following exhibit is filed as part of this Current
Report on Form 8-K:
Exhibit
Description No.
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Press Release dated February 12, 1997 99.1
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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.
ALLEGHENY TELEDYNE INCORPORATED
February 12, 1997 By: /s/ Jon D. Walton
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Jon D. Walton
Vice President-General Counsel
and Secretary
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<PAGE>
EXHIBIT INDEX
Sequential
No. Description Page No.
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99.1 Press Release dated February 12, 1997 5
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[ALLEGHENY TELEDYNE LOGO]
1000 Six PPG Place
Pittsburgh, PA 15222-5479
NEWS RELEASE CONTACT: Gary Stechmesser
412/394-2861
Dan Greenfield
412/394-3004
WILLIAM P. RUTLEDGE RESIGNS, AND RICHARD P.
SIMMONS ELECTED PRESIDENT AND CHIEF EXECUTIVE
OFFICER OF ALLEGHENY TELEDYNE INCORPORATED
Pittsburgh, PA, February 12, 1997 - Allegheny Teledyne Incorporated (NYSE: ALT)
announced that its president and chief executive officer, William P. Rutledge,
tendered his resignation as an officer of the company effective today. Allegheny
Teledyne Incorporated (ATI) was formed on August 15, 1996, in a strategic
combination of Pittsburgh-based Allegheny Ludlum Corporation and Los
Angeles-based Teledyne, Inc.
Allegheny Teledyne also announced that Chairman Richard P. Simmons will serve as
president and chief executive officer of the company. During the transition, Mr.
Rutledge will be available to assist Mr. Simmons with respect to ATI's
non-metals businesses.
Mr. Rutledge has decided to pursue other opportunities. He stated, "For personal
and family reasons, I have found the transition from California to ATI's
Pittsburgh, Pennsylvania headquarters difficult and have determined it to be in
the best interest of all involved that I resign. I regret having to make this
decision, but I am confident that ATI is well-positioned to achieve sustained
profitable growth in the years to come."
Mr. Simmons stated, "The board and I wish to thank Bill for his past performance
and support. We respect his decision to step down at this time for family
reasons and we wish him well in his future endeavors."
Allegheny Teledyne Incorporated is a federation of technology-based
manufacturing businesses with significant concentration in specialty metals,
complemented by aerospace and electronics, industrial, and consumer products.
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