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: JULY 19, 1996
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SUNBEAM CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
1-52 25-1638266
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(Commission File Number) (I.R.S. Employer Identification No.)
2100 NEW RIVER CENTER, 200 EAST LAS OLAS BLVD., FORT LAUDERDALE, FLORIDA 33301
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(Address of Principal Executive Offices) (Zip Code)
(954) 767-2100
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Exhibit Index is located on page 4
Page 1 of 5
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Item 5. Other Events.
The Company issued a press release yesterday afternoon regarding the
appointment of Albert J. Dunlap as Chairman and Chief Executive Officer of the
Company. The information contained in such press release, a copy of which is
attached hereto as Exhibit 99, is incorporated herein by reference.
Item 7. Financial Statement and Exhibits.
(c) Exhibits
Exhibit 99 - Press Release dated July 18, 1996.
Page 2 of 5
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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 hereunto duly authorized.
SUNBEAM CORPORATION
Date: July 19, 1996
\S\DAVID C. FANNIN
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David C. Fannin, Executive Vice President
and General Counsel
Page 3 of 5
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EXHIBIT INDEX
NUMBER DESCRIPTION PAGE NUMBER
99 Press Release dated July 18, 1996 5
Page 4 of 5
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FOR IMMEDIATE RELEASE
AL DUNLAP NAMED CHAIRMAN AND CEO OF SUNBEAM CORPORATION
Fort Lauderdale, FL, (July 18, 1996) -- Sunbeam Corporation (NYSE:SOC)
announced today that Albert J. Dunlap, former Chairman of Scott Paper Company,
has been named Chairman and Chief Executive Officer of Sunbeam effective
immediately.
Peter A. Langerman, Chairman of Sunbeam's Executive Committee, said,
"We are confident that, given his proven track record, Sunbeam will improve its
performance and create additional value for all shareholders."
Mr. Dunlap said, "I appreciate the vote of confidence by the Board of
Directors and welcome the opportunity to help make Sunbeam an even greater
company than it is today. As a leader in many of its primary product categories,
Sunbeam gives me a solid foundation to build upon. I look forward to shaping the
future growth and success of this fine company."
Mr. Dunlap is well known for his success in turning around companies
and improving shareholder value, having done so at eight companies throughout
his career. His most recent success was the remarkable restructuring of Scott
Paper Company where he increased shareholder value by $6.5 million in less than
two years before it merged with Kimberly Clark last December.
As a demonstration of his commitment to improving shareholder value at
Sunbeam, Mr. Dunlap will invest $3 million of his own funds in Sunbeam stock. In
addition, his compensation arrangement with the company is heavily
stock-oriented.
Mr. Dunlap is equally well known as a spokesman for shareholder rights
and as an advocate of stock compensation for board directors. He is also the
author of a new book to be published in September by Times Books, a division of
Random House, called "Mean Business: How I Save Bad Companies and Make Good
Companies Great."
Sunbeam Corporation is a leading consumer products company that
designs, manufactures and markets, nationally and internationally, a diverse
portfolio of outdoor and household brand name products. The Company's Sunbeam(R)
and Oster(R) brands have been household names for generations, both domestically
and abroad, and the Company is a market leader in many of its product
categories.
Contact: Pete Judice John DeSimone
Burson-Marsteller Manager, Investor Relations
212-614-4506 SUNBEAM CORPORATION
(954) 767-2100
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