SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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 25, 1995
TEAM, INC.
(Exact name of registrant as specified in its charter)
Texas 1-8604 74-1765729
(State or other juris- (Commission (IRS Employer
diction of incorporation File No.) Identification No.)
1001 Fannin Street, Suite 4656
Houston, Texas 77002
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 659-3600.
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ITEM 5. OTHER EVENTS.
The information contained in that certain press release dated August 25, 1995
entitled "Team Reports Change in President and CEO" is hereby incorporated by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
20. Press Release dated August 25, 1995 entitled "Team
Reports Change in President and CEO."
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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 thereunto duly authorized.
Date: August 31, 1995 TEAM, INC.
WILLIAM A. RYAN
By: William A. Ryan
Chairman of the Board,
Chief Executive Officer and
President
JOHN M. SLACK
By: John M. Slack
Vice President and
Chief Financial Officer
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John M. Slack
Chief Financial Officer
FOR IMMEDIATE RELEASE
TEAM REPORTS CHANGE IN
PRESIDENT AND CEO
HOUSTON, TEXAS, August 25, 1995 ............................... TEAM, INC.
(AMEX: TMI) today announced that the Board of Directors elected Mr. William A.
Ryan as the Company's interim Chairman, President and Chief Executive Officer
effective August 25, 1995 to replace H. Wesley Hall. Mr. Ryan has been a
Director of the Company since 1987. Mr. Ryan has, since 1974, been President and
a Director of Continental Materials Corporation, a publicly held company based
in Chicago, Illinois. Continental Materials Corporation is engaged in the
business of manufacturing heating and cooling equipment and producing minerals
and mineral products.
Under the terms of a consulting agreement entered into previously, Mr. Hall
has agreed to provide consulting services to Team for a period of ten years and
to refrain from competing with the Company, in consideration for payments under
such agreement.
Team, Inc. is a professional, full-service provider of environmental
consulting, engineering, monitoring and repair services to industrial firms and
governmental entities throughout the United States. Headquartered in Houston,
Texas, the Company currently operates 43 locations in 24 states and one
international location in England. The Company also serves the international
market through licensee arrangements in 15 countries. Team, Inc. common stock is
traded on the American Stock Exchange under the ticker symbol "TMI".
