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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-1004
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): May 1, 1997
Commission file number 1-977
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WESTINGHOUSE ELECTRIC CORPORATION
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(Exact name of registrant as
specified in its charter)
PENNSYLVANIA 25-0877540
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
Westinghouse Building, 11 Stanwix Street, Pittsburgh, Pennsylvania 15222-1384
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(Address of principal executive offices; zip code)
(412) 244-2000
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(Registrant's Telephone No., including area code)
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Item 5. Other Events
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On May 1, 1997, the Registrant issued a press release announcing that
Francis J. Harvey, Executive Vice-President and Chief Operating Officer of the
Registrant's Industries and Technology Group will leave the company at the end
of May. A copy of the press release is attached hereto as Exhibit 99 and is
incorporated herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
Press Release issued by the Registrant on May 1, 1997, is filed
as Exhibit 99 to this Report
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.
WESTINGHOUSE ELECTRIC CORPORATION
(Registrant)
By: /s/ LOUIS J. BRISKMAN
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Senior Vice President and
General Counsel
Date: May 9, 1997
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EXHIBIT INDEX
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Exhibit No. Description Sequential Page No.
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<S> <C> <C>
99 Press Release
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Exhibit 99
[LOGO]
Westinghouse Public Relations Westinghouse Electric Corporation
Westinghouse Building, Gateway Center
11 Stanwix Street
Pittsburgh, Pennsylvania 15222-1384
Contact: Kevin Ramundo
Telephone: (412) 642-4989
FOR USE: IMMEDIATE
CHIEF OPERATING OFFICER OF I&T GROUP TO LEAVE WESTINGHOUSE
PITTSBURGH, May 1, 1997-Westinghouse Electric Corporation announced today
that Francis J. Harvey, executive vice-president and chief operating officer of
the company's Industries and Technology Group, will leave the company at the end
of the month. Dr. Harvey's departure reflects the soon-to-be-announced
appointment of a new chief executive officer for the group, a step that will
alleviate the need for a COO position given the smaller and more streamlined
nature of the industrial portfolio.
"Fran has served Westinghouse well as a strong, results-oriented chief
operating officer during a time of great change," Michael H. Jordan,
Westinghouse's chairman and chief executive officer, said. "He established
effective financial and operational practices for the group, and built a firm
management foundation for the new company. Fran and I agree that this is the
appropriate time to eliminate the chief operating officer position in the
Industries and Technology Group."
In commenting on his departure, Dr. Harvey said, "Over the past year, we
have streamlined the Group and have successfully enhanced management
effectiveness through more disciplined business processes, greater
collaboration, and improved communications. To continue the progress, I believe
it will be best for the new CEO to have a direct relationship to the business
unit presidents. After 28 great years, I wish the company every success in the
future and I am looking forward to exploring a broad range of new
opportunities."
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CHIEF OPERATING OFFICER OF I&T GROUP TO LEAVE WESTINGHOUSE -2-
When Westinghouse announced last November that it was going to create a new
company by spinning off its industrial operations to shareholders, it indicated
that it would name a CEO to head the industrial operations, and ultimately the
new Westinghouse Electric Company. The company expects to announce the new CEO
by the end of June and to complete the spin-off in the fall.
Prior to becoming chief operating officer, Dr. Harvey served as president
of the corporation's defense electronics group, as well as president of its
government and environmental services business. He also served as vice president
of science and technology. Fran began his career in 1969 as a research engineer,
published over 50 scientific papers and reports and was awarded 12 patents. In
1978, he was chosen to be a White House Fellow and worked as a Special Assistant
to the Secretary of Defense. He then joined Westinghouse's defense group and
held numerous positions, including two general management assignments.
Dr. Harvey obtained his BS degrees in Metallurgy and Materials Science from
Notre Dame and his PhD from the University of Pennsylvania.
