<PAGE> 1
+===============================================================================
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): JANUARY 10, 2001
[VLASIC LOGO]
(Exact name of registrant as specified in its charter)
NEW JERSEY 1-13933 52-2067518
(STATE OF INCORPORATION) (COMMISSION (IRS EMPLOYER IDENTIFICATION NO.)
FILE NUMBER)
VLASIC PLAZA
SIX EXECUTIVE CAMPUS
CHERRY HILL, NEW JERSEY 08002-4112
(PRINCIPAL EXECUTIVE OFFICES)
TELEPHONE NUMBER: (856) 969-7100
----------------------------------
================================================================================
<PAGE> 2
ITEM 5. OTHER EVENTS
The information included in this item is set forth in a press release
issued by us and dated January 10, 2001, announcing the voluntary resignation
of Robert F. Bernstock as President and Chief Executive Officer and as a member
of the Board of Directors of Vlasic Foods International Inc. The press release
is attached as Exhibit 99.1 to this report and is incorporated herein by
reference.
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.
VLASIC FOODS INTERNATIONAL INC.
Date: January 12, 2001 By: /s/ JOSEPH ADLER
--------------------------------
Joseph Adler
Vice President and Controller
(Principal Financial and
Accounting Officer)
<PAGE> 3
EXHIBIT INDEX
EXHIBIT
NO. DESCRIPTION
--- ------------
99.1 Press release announcing the voluntary resignation
of Robert F. Bernstock as President and Chief
Executive Officer and as a member of the Board of
Directors of Vlasic Foods International Inc.
<PAGE> 4
EXHIBIT 99.1
CONTACT: Kevin G. Lowery
(856) 969-7417
VLASIC FOODS BOARD OF DIRECTORS
ACCEPTS RESIGNATION OF ROBERT F. BERNSTOCK
Company Hires Goldin Associates to Lead Interim Management.
-----------------------------------------------------------
CHERRY HILL, NJ - JANUARY 10, 2001 - Vlasic Foods International (NYSE:VL) today
announced that its Board of Directors has accepted the voluntary resignation of
Robert F. Bernstock as President and Chief Executive Officer and as a member of
the Board effective immediately. Mr. Bernstock is leaving Vlasic Foods to join
another company, which is expected to be announced shortly. The Board expressed
its appreciation for all of Mr. Bernstock's contributions to Vlasic Foods.
The Company also announced that it has hired the firm of Goldin
Associates, a management consultant and financial advisor, to provide interim
management services and to assist the company in implementing a financial
restructuring and its strategic review process with Lazard Freres. Goldin
Associates will assume the responsibilities previously performed by Mr.
Bernstock. The Goldin Associates team is headed by David Pauker, a managing
director of the firm, who will report directly to the Board of Directors.
Mr. Pauker said, "I look forward to working together with the
management of Vlasic Foods. After initial review of the Company, it is clear the
team is quite strong and talented and the company's brand positions are
enviable."
<PAGE> 5
Mr. Bernstock stated, "We have achieved much since our spin-off. We
have done great things considering the hand we were dealt. I will forever
appreciate and remember the spirit, dedication and achievements of my fellow
colleagues at Vlasic Foods."
================================================================================
FORWARD LOOKING STATEMENT
This release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The Company believes
the assumptions underlying the forward-looking statements, including those
relating to personnel and the strategic review process are reasonable. However,
any of the assumptions could be inaccurate, and therefore there can be no
assurance that the forward-looking statements contained in this release will
prove to be accurate. Additional information that could cause actual results to
vary materially from the results anticipated may be found in the Company's most
recent Form 10-K and other reports filed with the Securities Exchange
Commission. Furthermore, the Company disclaims any obligation or intent to
update any such factors or forward-looking statements to disclaim future events
and developments.
