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) June 12, 1996
WITCO CORPORATION
(Exact name of Registrant as Specified in its Charter)
Delaware 1-4654 13-1870000
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
One American Lane, Greenwich, Connecticut 06831
(Address of Principal Executive Officers) (Zip Code)
(203)552-2000
(Registrant's telephone number, including area code)
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Item 5. Other Events
On June 12, 1996, Witco Corporation (the "Company") announced that its
Board of Directors named Dr. E. Gary Cook Chairman, Chief Executive Officer, and
President of the Company succeeding William R. Toller, the Company's Chairman
and Chief Executive Officer, who is retiring. Mr. Toller was named Honorary
Chairman of the Company and will remain as a director. The Company also
announced the retirement of William E. Mahoney, the Company's Vice Chairman and
Chief Operating Officer. The complete text of the press release issued by the
Company is attached.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
99 Press Release, dated June 12, 1996.
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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, thereto duly authorized.
WITCO CORPORATION
/s/ Dustan E. McCoy
---------------------------------
Name: Dustan E. McCoy
Title: Vice President, General Counsel
and Corporate Secretary
Dated: June 17, 1996
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Exhibit Index
Exhibit No. Exhibit Page No.
- ----------- ------- --------
99 Press release of the registrant, 5
dated June 12, 1996.
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EXHIBIT 99
Contact: Jill S. Gabbe/Craig Andrews 212 229-0162
Gabbe & Gabbe
C. J. DiFrancesco 203 552-2251
Vice President, External Affairs
Witco Corporation For Immediate Release
WITCO NAMES NEW CEO, REAFFIRMING STRONG GROWTH OBJECTIVES
Gary Cook Assumes Leadership of Global Specialty Chemicals Company
GREENWICH, CT, June 12, 1996 -- In a key step toward positioning Witco
Corporation (NYSE:WIT) for strong growth in the global quality specialty
chemicals and petroleum products field, the Board of Directors today named Dr.
E. Gary Cook Chairman, Chief Executive Officer, and President of the company.
Since March 1, 1994, Dr. Cook has served as President and Chief Operating
Officer of Albemarle Corporation, located in Baton Rouge, LA, a worldwide
supplier of chemical intermediates. Previously he was with Ethyl Corporation and
E.I. Du Pont de Nemours and Company in a series of senior management positions.
The appointment is effective immediately.
Dr. Cook, 51, succeeds William R. Toller, who had served as Chairman and
Chief Executive Officer of Witco since 1990. Mr. Toller has been named Honorary
Chairman of Witco and remains as a Director. Mr. Toller and William E. Mahoney,
the company's Vice Chairman and Chief Operating Officer, had previously
announced their intention to retire in 1996 after 40 and 33 years of service,
respectively.
Following his election today by the Board of Directors, Dr. Cook said,
"Witco offers boundless opportunities building on 75 years of accomplishments,
to solidify its potential as a premier, world-class specialty chemicals company.
The company is emerging from a period of transition in which it has successfully
refocused on its core strengths and streamlined operations. Going forward, with
those strategic moves solidly in place and a continued commitment to
strengthening the earnings of our company, we are in a dynamic position to drive
performance and enhance shareholder value."
Commenting on Dr. Cook's appointment, Board Director William R. Grant said,
"Gary brings impeccable leadership and operational credentials to the CEO role
at Witco. His diverse background includes broad experience in research,
marketing, operations, and strategic planning as well as in general management.
Gary's long and highly successful career with world-class organizations like Du
Pont, Ethyl, and Albemarle gives us further confidence that Gary will guide
Witco in its rightful position as a global leader in specialty chemicals."
Dr. Cook holds a B.S. in chemistry with high distinction from the
University of Virginia, and a Ph.D. in chemistry from Virginia Polytechnic
Institute & University. He and his wife, Brenda, have four grown children. They
will relocate to the Greenwich area.
Witco Corporation is a worldwide manufacturer of specialty chemical and
specialty petroleum products with 1995 sales of nearly $2 billion. Witco's
products are used primarily as intermediates by other manufacturers in hundreds
of industries, including personal care and household products, agricultural,
automotive, housing, construction, packaging, food, and textiles. Founded 75
years ago, Witco employs over 8,000 people located around the world. The company
is headquartered in Greenwich, Connecticut.
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