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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):
August 28, 1998
MAC-GRAY CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 011-13495 04-3361982
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
22 Water Street, Cambridge, MA 02141
(Address of principal executive offices and zip code)
(617) 492-4040
(Registrant's telephone number, including area code)
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Item 5. Other Events
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On August 28, 1998, the Registrant issued the press release attached as
Exhibit 99.1 to this Current Report on Form 8-K.
(c) Exhibits
Exhibit No. Description
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99.1 Press release announcing the resignation of the Chief Financial
Officer of Mac-Gray Corporation, dated August 28, 1998.
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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.
Dated: August 28, 1998 MAC-GRAY CORPORATION
By: /s/ Stewart G. MacDonald, Jr.
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Stewart G. MacDonald, Jr.
Chairman and Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release announcing the resignation of the Chief Financial
Officer of Mac-Gray Corporation, dated August 28, 1998.
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EXHIBIT 99.1
MAC-GRAY ANNOUNCES RESIGNATION OF CHIEF FINANCIAL OFFICER
Cambridge, MA -- August 28, 1998
Mac-Gray Corporation (NYSE: TUC) today announced that its Chief Financial
Officer, John S. Olbrych, has resigned to devote more time to his family.
Neil F. MacLellan, Executive Vice President, has been named Chief Financial
Officer on an interim basis. Mr. MacLellan served as CFO and Treasurer of the
Corporation from 1990 to 1996. The Company will conduct a search for a
permanent replacement.
Stewart MacDonald, Chairman and Chief Executive Officer, said "Jack has been
with us since April, 1996, when we had made a commitment to achieve substantial
growth in our business, and his contribution helped translate that vision into
reality. When we made the decision to become a public corporation he was
equally able to assist in achieving that goal. He will remain as a consultant
to the company, with an incentive that keeps his interests aligned with those of
the shareholders, and I am very pleased by that. We wish him the very best."
Mr. Olbrych commented, "My time at Mac-Gray has been exciting and rewarding,
factors which made my decision all the more difficult. I believe that the
company has a bright future ahead of it, and I am pleased to have the
opportunity to continue my participation, although in a different capacity."
