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SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported) August 27, 1997
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ELCOR CORPORATION
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(Exact name of Registrant as specified in its charter)
DELAWARE 1-5341 75-1217920
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(State or other jurisdiction of Commission File number (I.R.S. Employer
incorporation or organization) Identification No.)
14643 DALLAS PARKWAY
SUITE 1000, WELLINGTON CENTRE, DALLAS, TEXAS 75240-8871
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (972) 851-0500
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NOT APPLICABLE
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(Former name or former address, if changed since last report)
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Item 5. Other Events
The information set forth in the Registrant's press releases dated August 25,
1997 and August 26, 1997 (attached hereto as Exhibit 20) is incorporated herein
by reference to such press releases.
Item 7. Exhibits
20 Press releases dated August 25, 1997 and August 26, 1997 of Elcor
Corporation.
2
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SIGNATURE
Pursuant to the requirement of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ELCOR CORPORATION
DATE: August 27, 1997 /s/ Richard J. Rosebery
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Richard J. Rosebery
Vice Chairman, Chief Financial &
Administrative Officer, and Treasurer
3
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Designation of
Exhibit in this
Report Description of Exhibit
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<S> <C>
99.1 Press releases dated August 25, 1997 and August 26, 1997 of
Elcor Corporation
</TABLE>
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EXHIBIT 99.1
Press releases dated August 25, 1997 and
August 26, 1997 of Elcor Corporation.
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[ELCOR CORPORATION LETTERHEAD]
FOR FURTHER INFORMATION: TRADED: NYSE
SYMBOL: ELK
Richard J. Rosebery, Executive Vice President
and Chief Financial Officer
(972) 851-0500
(915) 685-0277
PRESS RELEASE
FOR IMMEDIATE RELEASE
ELCOR ANNOUNCES DEATH OF ROY E. CAMPBELL
CHAIRMAN, PRESIDENT AND CEO
DALLAS, TEXAS, August 25, 1997 . . . . Elcor Corporation today announced that
Roy E. Campbell, 71, Chairman, President and Chief Executive Officer, passed
away Friday evening, August 22, 1997, in a Dallas hospital after a lengthy
illness.
Campbell died just four days after the Board elected Harold K. Work and Richard
J. Rosebery as Vice Chairmen and adopted a management succession plan to be
implemented following the company's annual meeting on October 28, 1997. Under
the plan, Campbell was to remain Chairman, but would turn over the day-to-day
operations to two veteran Elcor executives, Harold K. Work, 64, and Richard J.
Rosebery, 62.
Funeral services for Campbell will be conducted later today in Midland, Texas,
where he maintained a permanent residence since helping found Elcor in 1965. In
lieu of flowers, donations are suggested for The Center for Children and
Families, 1031 Andrews Highway or Hospice of Midland, 911 W.
Texas, both at Midland, Texas 79701.
Elcor's Board is expected to meet shortly to finalize plans to complete
implementation of the company's succession plan.
Under the succession plan adopted last Monday, the Elcor Board planned to elect
Work to the additional positions of President and Chief Executive Officer of
Elcor Corporation. He would also remain President and Chief Executive Officer
of Elk Corporation of Dallas and its subsidiaries, which constitute the
company's core Roofing Products business. Rosebery would remain Chief
/more
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PRESS RELEASE
ELCOR CORPORATION
AUGUST 25, 1997
ADD ONE
Financial and Administrative Officer and Treasurer and would oversee day-to-day
operations of Elcor's Industrial Products businesses. Both Work and Rosebery
are Vice Chairmen and Directors of Elcor. No other management changes were
planned.
WORK AND ROSEBERY PRAISE CAMPBELL'S ACCOMPLISHMENTS
In a joint statement, Work and Rosebery said, "Roy's passing comes at a time
when his vision for Elcor's continued growth and future promise was becoming
reality. He lived to see the company implement his strategy to boldly position
Elcor's Roofing Products business to be, not only highly profitable, but
perhaps the most highly regarded leader in the premium laminated asphalt
roofing shingle market. His strategy also achieved the successful turnaround of
our Industrial Products business in fiscal 1997.
"Roy's mentoring and friendship over the past 20 years have provided both of us
with a sense of purpose, a mandate, if you will, to continue the plan and
sustain the company's reputation for excellence in consistently high quality
value-added products and services.
As the company moves forward, it will carry on the high standards which Roy has
instilled in our employees and the confidence that each of us can play a
meaningful role in Elcor's continued future success.
"His memory will be with us constantly as we continue to expand on Elcor's
success," they concluded.
ROY E. CAMPBELL 1926-1997
Born in Dallas, July 10, 1926, Campbell graduated from Will Rogers High School
in Tulsa, Oklahoma in 1944 and was in the Navy's Officer Training Program from
1944 to 1946.
He graduated from Rice University in Houston with a B.S. in Civil Engineering
in 1948 and then spent eight years with AMOCO (formerly Standard Oil and Gas)
in various technical and supervisory capacities.
In 1956, Mr. Campbell joined and later became a partner in the engineering
consulting firm of Leibrock, Landreth & Campbell. In 1965, the three partners,
together with another partner, F. H. Callaway, and W. F. Ortloff founded Elcor
in Midland with Campbell named President, Chief Executive Officer and Chairman
of the Board. The company moved to Dallas in 1988.
/more
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PRESS RELEASE
ELCOR CORPORATION
AUGUST 25, 1997
ADD TWO
Today, Elcor's common stock trades on the New York Stock Exchange (ELK). The
company has about 800 employees, $230 million in annual sales, five
manufacturing locations in four states and has earned a reputation for the
consistently high quality of its roofing and industrial products and services.
Campbell's numerous civic and professional honors include:
Member/Past Chairman, Midland Memorial Hospital
Member, Texas Society of Professional Engineers
Member, American Management Association
Past President, Midland Youth Centers
Past Director/Chairman, Permian Basin Society of Petroleum Engineers
of AIME
Past Director/Vice President of The National Organization of Society
of Petroleum Engineers of AIME
Past President, Petroleum Club of Midland
Mr. Campbell also served on the boards of two Midland banks and other
civic organizations.
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Elcor, through its subsidiaries, manufactures roofing products and industrial
products. Each of Elcor's principal operating subsidiaries is the leader or one
of the leaders within its particular market. Its common stock is listed on the
New York Stock Exchange (ticker symbol: ELK).
Elcor's roofing products facilities are located in Tuscaloosa, Alabama;
Shafter, California; Dallas and Ennis, Texas. Its industrial products
facilities are located in Cleveland, Ohio; Dallas, Lufkin, and Midland, Texas.
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[ELCOR CORPORATION LETTERHEAD]
FOR FURTHER INFORMATION: TRADED: NYSE
SYMBOL: ELK
Richard J. Rosebery, Vice Chairman,
Chief Financial and Administrative
Officer, and Treasurer
(972) 851-0500
PRESS RELEASE
FOR IMMEDIATE RELEASE
ELCOR BOARD NAMES WORK AS CHAIRMAN, PRESIDENT
AND CHIEF EXECUTIVE OFFICER TO SUCCEED CAMPBELL
DALLAS, TEXAS, August 26, 1997 . . . . Elcor Corporation said today its Board
of Directors has elected Harold K. Work as Chairman of the Board, President and
Chief Executive Officer, succeeding Roy E. Campbell, who passed away on August
22, 1997. These changes were a part of the company's management succession plan
announced on August 19, 1997, except that the timing was moved forward
following Mr. Campbell's death. Work will continue as President, Chief
Executive Officer and Director of Elk Corporation of Dallas and its
subsidiaries, which constitute Elcor's core Roofing Products business. Elcor's
Industrial Products subsidiaries will report directly to Richard J. Rosebery,
who will continue as Vice Chairman, Chief Financial and Administrative Officer
and Treasurer of Elcor Corporation and will report directly to Mr. Work.
No other management changes are planned.
In a joint statement, Work and Rosebery said, "We plan to continue Mr.
Campbell's high standards and passion for excellence, which have created a
culture within Elcor where our employees can excel and are proud and
enthusiastic about their work. These same qualities have created a company with
clear-cut leading positions in several high growth niche markets and all of the
necessary resources to achieve sharply higher sales and earnings in the years
ahead. We believe the future is bright, and we are confident that we will carry
out our plans for achieving substantial growth potential," they concluded.
Both Mr. Work and Mr. Rosebery are 20-year veterans of the company who have
worked closely with Mr. Campbell as a part of the company's senior management
team. Mr. Work became a Vice President, General Manager of Elk in late 1977. He
was elected President, Chief Executive Officer and a Director of Elk
Corporation of Dallas and its subsidiaries in 1979. He was also elected a Vice
President of Elcor Corporation in 1982. Mr. Rosebery joined Elcor and was
elected Vice President in 1975. Mr. Work and Mr. Rosebery were each elected
Executive Vice President of Elcor in 1993, became Directors of the company in
1996 and were elected Vice Chairmen of the Board in 1997.
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Elcor, through its subsidiaries, manufactures roofing products and industrial
products. Each of Elcor's principal operating subsidiaries is the leader or one
of the leaders within its particular market. Its common stock is listed on the
New York Stock Exchange (ticker symbol: ELK).
Elcor's roofing products facilities are located in Tuscaloosa, Alabama;
Shafter, California; Dallas and Ennis, Texas. Its industrial products
facilities are located in Cleveland, Ohio; Dallas, Lufkin, and Midland, Texas.
