SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Se ction 13 or 15(d) of the
Securities Exc hange Act of 1934
July 21, 1994
Mallinckrodt G roup Inc.
(Exact name of registrant as specified in its charter)
New York 1-483 36-1263901
(State or other jurisdiction (Commission (IRS
Employer
of incorporation) File Number)
Identification No.)
7733 Forsyth Boulevard, St. Louis, MO 63105-1820
(Address of principal executive offices) (Zip
Code)
Registrant's telephone number, (314)
854-5200
including area code
<PAGE>
MALLINCKRODT ANNOUNCES DECISION
OF VETERINARY COMPANY PRESIDENT TO RESIGN
St. Louis, Missouri, July 21, 1994 -- Mallinckrodt Group Inc.
(NYSE:MKG) announced today that William J. Mercer, president
and chief executive officer of its animal health business, has
resigned from the company to pursue his career interests. c.
Ray Holman, president and chief executive officer of
Mallinckrodt Group, will assume the additional role of
Mallinckrodt Veterinary president until Mercer's successor is
named.
Holman said, "Bill Mercer wrote in his resignation letter that
it is his personal desire to pursue a new, more challenging
position outside the company. He has made many contributions
during his nearly 17 years with our company and we wish him a
successful future.
"The Mallinckrodt Veterinary management team is strong and I am
confident the group will continue to work together to provide
the leadership for a solid and profitable future," Holman said.
In his resignation letter, Mercer stated, "With the closeness
in our ages, time in our jobs, and the greater company needs, I
want to take on a CEO successor, or CEO role, of a high quality
company within the next year. Since our timetables are not
consistent, it is in the best interest of both myself and the
company that I obtain a position that better fits my long term
career goals."
Mercer was named president of Mallinckrodt Veterinary in
December 1992, after holding a number of management positions
at Mallinckrodt Medical, primarily in medical imaging. A
restructuring program, including closing 11 plants, eliminating
1,100 positions and rationalizing the product line, was
initiated at the veterinary company in fiscal year 1993 and is
contributing to improved earnings, according to Holman.
Operating earnings and margins were up approximately 50 percent
for the first nine months of the year.
Mallinckrodt Group Inc. is a Fortune 250 company with net sales
of over $1.9 billion. through its three technology-based
businesses -- Mallinckrodt chemical and Mallinckrodt Medical,
both headquartered in St. Louis, and Mallinckrodt Veterinary,
headquartered in Mundelein, Ill. -- the company provides human
and animal health products and specialty chemicals.
Mallinckrodt Group and its subsidiaries have approximately
10,000 employees worldwide.
