SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 2, 1999
INMOLD, INC.
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(Exact Name of Registrant as Specified in Charter)
Indiana 1-5742 38-3881342
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(State or Other (Commission (IRS Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
755 West Big Beaver Road, Suite 312, Troy, Michigan 48084
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (248) 362-3223
N/A
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS
Filipp J. Kreissl died on July 19, 1999. Mr. Kreissl was the interim Chairman,
President, CEO, and Director of Inmold, Inc. and Interim President and a
Director of G P Plastics, Inmold Inc.'s wholly-owned subsidiary. Mr. Kreissls
death was not unexpected, as it was known for two years that he had acute
leukemia.
Mr. Kreissl was a graduate of Northwestern University. He joined the Detroit
Controls division of American Standard, Inc. in 1941, latterly became President
of Detroit Controls. Subsequently, he owned and operated several automotive
supplier companies. From 1975 until 1980, he was occupied as principal owner
and President of KWD Group, Inc., a management firm specializing in management
for severely distressed companies. In 1982, he was named President and
Treasurer of Sanders Confectionery Products, Inc. Since 1996, he served as
interim President and a Director of G P Plastics, Inc. Mr. Kreissl had been
Interim President, Chairman , and CEO of Inmold, Inc. since its inception on
January 10, 1997.
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Inmold, Inc. began a search for a successor for Filipp Kreissl in May 1999, well
before his death. While no permanent successor has yet been chosen, the search
is well underway, and Inmold, Inc. expects to have the vacancy filed within 30
to 60 days from the date of this filing. The position to be filled will be
identical to the position vacated by Filipp Kreissl. (i.e. The successor to
Filipp Kreissl will be the Chairman, President, and CEO of Inmold, Inc. and the
President of G P Plastics.)
Until Filipp Kreissl's successor is chosen, four members of the Board of
Directors of Inmold, Inc. have been chosen to act as an executive committee and
assume the responsibilities of Chairman and President. Those Directors are
as follows:
David S. Eberly, Outside Director
Philip B. Fischer, Outside Director
John F. Horner, Current Vice-President
and Chief Financial Officer of Inmold, Inc.
John M. Sanders, Current Secretary of Inmold, Inc.
David S. Eberly is a graduate of Miami University (Ohio). He was an assistant
Vice President, corporate finance with J. W. Korth & Company, before co-founding
GMA Capital, L.L.P. in 1988. He is a Principal and a Director of GMA Capital,
L.L.P. He was also a founding shareholder and Director of European Gateway
Acquisition Corporation. He joined the Board of Directors of Inmold, Inc., in
1998.
Philip B. Fischer graduated from Adelphi College and received his law degree
from George Washington University. He served as President of Divco Truck
Corporation in Detroit until 1975, when he organized Philip B. Fischer Company,
Inc., a real estate and financial consulting firm specializing in commercial
properties, corporate restructuring and business development. Presently, he
serves as a Director of the Michigan Jobs Commission and of the Detroit/Wayne
County Port Authority, both gubernatorial appointments, and as a Director of the
Michigan Chamber of Commerce. He joined the Board of Directors of Inmold, Inc.,
in 1997.
John F. Horner is a magna cum laude graduate of the University of Detroit. He
has been a certified public accountant since 1974. From 1981 until 1996, he was
Chief Financial Officer for Car-O-Liner Company, Thielenhaus Microfinish
Corporation and Omni Engineering Corporation. He was employed as Treasurer and
Chief Financial Officer of G P Plastics, Inc. in 1996 and was elected to its
Board of Directors in the same year. He joined the Board of Directors of
Inmold, Inc. in 1998.
John M. Sanders is a graduate of Amherst College. Mr. Sanders was elected
President of Fred Sanders in 1963 and subsequently Chairman of the Board. He
has been Chairman of the Board and Secretary of Sanders Confectionery Products,
Inc. since 1986. John M. Sanders joined Inmold, Inc. as Secretary and a
Director at its inception in January 1997.
In addition to his positions of Chairman, President, and CEO of Inmold, Inc.,
and President of G P Plastics, Filipp J. Kreissl was also a Director of Inmold,
Inc. Subsequent to Filipp J. Kreissl's death and election by the Board of
Directors of Inmold, Inc., J. Scott Kreissl has filled the vacated position of
Director. J. Scott Kreissl is a graduate of Wayne State University and the
M.B.A. program in finance from the University of Detroit Mercy. From 1970
through 1983, he was employed principally by NBD Bank and Ford Motor Credit
Corporation. From 1983 through 1995, he was senior vice-president, U.S.
Marketing operations for Deutsche Credit Corporation. Currently he is
vice-president of the Structured Finance Group, Inc., a unit of General Electric
Credit Corporation.
Finally, while Filipp J. Kreissl held positions of Chairman, President, and CEO
of Inmold, Inc., and President of G P Plastics, he did not own any substantial
amount of stock in either of the aforementioned companies, nor does his death in
any way effect the control of the companies.
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Because of the changing directions of the Company's business, the sales
agreement with Joe Schmidt Sales was terminated by the Company on June 1, 1999.
Under the notice terms of the existing agreement, this termination will become
effective on November 1, 1999 and commissions will be payable for an additional
twelve (12) months after November 1, 1999. Joe Schmidt Sales has been involved
solely with sales to General Motors Corporation. The Company is presently
considering alternative representation with that customer.
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.
August 2, 1999
INMOLD, INC.
By: /s/John M. Sanders
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John M. Sanders, Secretary
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