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):
April 1, 1999 (March 30, 1999)
DESA HOLDINGS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 333-44969-01 22-2940760
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
2701 Industrial Drive
Bowling Green, KY 42101
(Address of principal executive offices, including zip code)
(502) 781-9600
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
On March 30, 1999, the Registrant announced the resignation of its Chairman and
Chief Executive Officer, effective April 5, 1999, and the election of
replacements therefor and of a Chief Operating Officer. For more information,
see the Company's press release dated March 30, 1999, which is attached hereto
as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1 - Press Release, dated as of March 30, 1999
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<PAGE>
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.
DESA HOLDINGS CORPORATION
(Registrant)
By: /s/ Scott M. Nehm
Scott M. Nehm
Vice President and Controller
Date: April 1, 1999
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EXHIBIT 99.1
BOWLING GREEN, Ky.--(BUSINESS WIRE)--March 30, 1999 via NewsEdge Corporation -
DESA International, Inc.today announced the retirement of Robert Elman,
the company's long-time Chairman and Chief Executive Officer, effective April 5.
Terry G. Scariot, currently the company's President and a member of the Board of
Directors, will become Chief Executive Officer, and Raymond B. Rudy, a Board
member, will become Chairman. John M. Kelly, currently Executive Vice President,
will become Chief Operating Officer.
Mr. Elman, 60, was one of the founders of DESA and has been with the
company for 30 years. Mr. Scariot said, "Bob has seen the company through a
period a significant growth and his experience will be missed."
Terry G. Scariot became Chief Financial Officer of DESA in March 1985.
He was appointed President of DESA in March 1996 and joined the Board of
Directors in December 1996. Prior to joining the company, Mr. Scariot held
positions of increasing responsibility in financial and manufacturing management
at Monsanto Industrial Chemicals Company, Rockwell International's Automotive
Products Group, Gulf and Western's Bonney Forge Division and The Massillon Steel
Casting Company. Mr. Scariot received his Bachelor of Science degree in finance
and MBA from the University of Missouri.
Raymond B. Rudy has been a Managing Director of J.W. Childs Associates,
L.P., a major shareholder of the company, since July 1995. Prior to that time,
he was Deputy Chairman of Snapple Beverage Corporation from 1992 until the
company was sold in 1994. From 1987 to 1989, Mr. Rudy was President of Best
Foods Subsidiaries of CPC International. From 1984 to 1986, Mr. Rudy was
Chairman, President and CEO of Arnold Foods Company, Inc. He is Vice Chairman of
Empire Kosher Poultry, Inc., Chairman of Beltone Electronics Corp., and a
Director of International DiverseFoods, Inc. and Widmer Brothers Brewing
Company.
John M. Kelly joined DESA in 1972. During his 27-year-tenure with the
company, Mr. Kelly has held positions of increasing responsibility in the areas
of sales, marketing and engineering. He was appointed Executive Vice President
in March 1996, responsible for worldwide sales, marketing and engineering. Mr.
Kelly majored in Economics at the University of Toronto.
DESA International, Inc., based in Bowling Green, Kentucky, is a
leading manufacturer and marketer of zone heating/home comfort products and
specialty tools in the United States. The company sells its products through
multiple consumer and commercial channels of distribution including the leading
home centers, mass merchants, warehouse clubs, hardware cooperatives, specialty
heating distributors, construction and industrial equipment dealers, farm supply
outlets and natural gas utilities under various brand names.
CONTACT: DESA International - Ed Patrick - (502) 745-7843
