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UNITED STATES
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 17, 1998 (June 2, 1998)
Commission file number 1-11803
AMERICAN PAD & PAPER COMPANY
(Exact name of registrant as specified in its charter)
Delaware 04-3164298
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
17304 Preston Road, Suite 700, Dallas, TX 75252-5613
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (972) 733-6200
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Item 5. Other Events.
On June 2, 1998, American Pad & Paper Company (the "Company") issued a
press release announcing the appointment of James W. (Jay) Swent, III as
Executive Vice President and Chief Financial Officer effective June 1, 1998.
Gregory M. Benson, who has served as interim Chief financial Officer since last
December, will continue to serve as a member of the Board of Directors. This
press release is incorporated herein as Exhibit 99.3.
Additionally, on June 10, 1998 the Company announced the appointment of
David N. Pilotte to the position of Vice President and Controller, Michael
Duboise to the position of Vice President, Sales of the Ampad Division, and
Kerri Sibley to the position of Vice President, Marketing of the Ampad Division.
Richard Huntoon was also appointed to the position of Vice President, Marketing
and Sales for the Williamhouse Division. This press release is incorporated
herein as Exhibit 99.4.
Item 7. Exhibits.
99.3 Press release by the Company dated June 2, 1998.
99.4 Press release by the Company dated June 10, 1998.
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.
American Pad & Paper Company
/s/ James W. Swent, III June 17, 1998
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James W. Swent, III Date
Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
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99.3 Press Release dated June 2, 1998
99.4 Press Release dated June 10, 1998
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Exhibit 99.3
CONTACT: Charles Hanson
Chairman & Chief Executive Officer
American Pad & Paper Co.
(972) 733-5421
FOR IMMEDIATE RELEASE
Robert P. Jones/Stan Froelich - Press
(212) 850-5600
Ken Pieper
(972) 663-9390
Morgen-Walke Associates
AMERICAN PAD AND PAPER COMPANY ANNOUNCES
APPOINTMENT OF JAMES W. SWENT, III AS EXECUTIVE VICE PRESIDENT AND CHIEF
FINANCIAL OFFICER
DALLAS, Texas, June 2, 1998 -- American Pad & Paper Company (NYSE:AGP)
today announced that James W. "Jay" Swent, III, 47, was appointed Executive Vice
President and the new Chief Financial Officer of the Company effective June 1.
Gregory M. Benson, who has served as interim Chief Financial Officer since last
December, will continue to serve as a member of the Board of Directors and
assist Mr. Swent in his transition.
Mr. Swent has over twenty years of financial management experience with
publicly traded, multi-national manufacturing companies in fast growth
industries. In his new position, he will be responsible for all the Company's
financial and accounting activities, including controller and treasury
functions, taxation, business planning, and investor relations. Swent will also
play a key role in strategic product line analysis and long-term financial
planning for American Pad & Paper.
Swent joins the Company after having most recently served as Chief
Executive Officer and Chief Financial Officer of Cyrix Corporation, a
manufacturer of microprocessors for the PC industry, until its merger with
National Semiconductor in
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December 1997. Under his leadership, Cyrix became a market leader in the low
cost and mid-range PC markets by introducing several new innovative products and
securing new key accounts. Prior to Cyrix, Swent spent four years at Northern
Telecom Limited where he served in a variety of key operational and financial
positions, including his last assignment as Vice President of Business
Development for the Broadband Networks Group. In this position, he initiated
joint ventures and customer alliances in Asia, Europe and North America.
Earlier, he served as Vice President and Chief Financial Officer for Northern
Telecom's Caribbean and Latin American region with operations in 22 countries.
Prior to Northern Telecom, Swent held key managerial roles in the computer
peripherals and office equipment industries.
Commenting on the appointment, Charles Hanson, Chairman and Chief
Executive Officer, stated, "Jay is a proven leader with strong operational,
financial, managerial, and turnaround expertise. He provided invaluable services
in all his prior assignments and most recently at Cyrix where he enhanced
shareholder value substantially His solid business development skills and
successful track record in creating and implementing financial plans will
provide the Company with the additional depth needed for continued growth of our
existing business and for launching new initiatives as we go forward. We are
extremely pleased to have Jay on board."
Swent received his bachelor's degree and MBA from the University of
California at Berkeley in 1972 and 1973, respectively. He currently resides in
Dallas, Texas with his wife and daughter.
American Pad & Paper Co., which invented the legal pad in 1888, is a
leading manufacturer and marketer of paper-based office products in North
America. In its 20 U.S. facilities, the Company manufactures and distributes
writing pads, file folders, machine papers, envelopes and other office products.
Name brands include: Ampad, Century, Embassy, Gold Fibre, Huxley, Karolton,
Kent, Peel & Seel, SCM, Williamhouse and World Fibre.
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Exhibit 99.4
CONTACT: Charles Hanson
Chairman & Chief Executive Officer
American Pad & Paper Co.
(972) 733-5421
FOR IMMEDIATE RELEASE
Robert P. Jones/Theresa Schillero
Stan Froelich - Press
(212) 850-5600
Ken Pieper
(972) 663-9390
Morgen-Walke Associates
AMERICAN PAD AND PAPER COMPANY ANNOUNCES KEY OPERATING MANAGEMENT CHANGES
DALLAS, Texas, June 10, 1998 -- American Pad & Paper Company (NYSE:AGP)
today announced a number of key appointments to its financial and marketing and
sales groups, effective immediately.
David N. Pilotte has been appointed to the position of Vice President
and Controller, replacing William Solomon who recently left the firm to pursue
other opportunities. In his new assignment he will be responsible for all of the
Company's accounting activities. Before joining American Pad & Paper, Mr.
Pilotte was at Cyrix Corporation where he served as Corporate Controller until
its merger with National Semiconductor in December 1997. Prior to Cyrix, Mr.
Pilotte held several financial management and staff positions with Baldor
Electric, Rockwell International, and Arthur Andersen & Company. Mr. Pilotte
received his Bachelor of Science in Business Administration from the University
of Florida, his Masters in Business Administration from the University of
Houston and he is a Certified Public Accountant.
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The Company also announced that H. Craig Stoudt has resigned as
President of the Ampad Division to pursue other interests. The Company is
currently conducting a search to fill the position.
Michael Duboise and Kerri Sibley have been promoted to Vice President,
Sales and Vice President, Marketing, respectively in the Ampad Division. Both
had previously held positions as National Account Managers in the division. As
Vice President, Sales, Mr. Duboise will oversee national sales contracts with
Ampad's mass merchant customers. In her new assignment, Ms. Sibley will be
responsible for brand management, new product development, and advertising in
the Division.
Mr. Duboise has been with Ampad since 1993. Prior to joining the
Company, he was National Account Manager with Stuart Hall. Since joining Ampad
in 1995, Kerri Sibley has been primarily responsible for overseeing national
sales contracts with several key office product superstores. Ms. Sibley was most
recently at Globe-Weis where she was National Sales Manager.
In the Williamhouse Division, Richard Huntoon and Gregory Maio have
been promoted to Vice President of Marketing and Sales and National Sales
Manager, respectively. Mr. Huntoon's assignment is a newly created position in
which he will oversee all marketing and sales efforts within the Division. Prior
to joining Williamhouse in 1996, Mr. Huntoon was Regional Vice President of
Sales at Niagara Envelope. In his new assignment, Mr. Maio will be responsible
for all field sales efforts at Williamhouse. Mr. Maio was most recently a
Regional Sales Manager for the Division which he joined in 1984.
Commenting on the appointments, Charles Hanson, Chairman and Chief
Executive Officer of American Pad & Paper, stated, "We are very pleased to have
Michael, Kerri, Rick, and Greg heading up our sales and marketing efforts at
Ampad and Williamhouse, and we look forward to having David on the AP&P team.
These appointments are part of our strategy of rewarding and attracting talent
in the firm and we are confident in their ability to identify and develop future
growth opportunities."
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American Pad & Paper Co., which invented the legal pad in 1888, is a
leading manufacturer and marketer of paper-based office products in North
America. In its 20 U.S. facilities, the Company manufactures and distributes
writing pads, file folders, machine papers, envelopes and other office products.
Name brands include: Ampad, Century, Embassy, Gold Fibre, Huxley, Karolton,
Kent, Peel & Seel, SCM, Williamhouse and World Fibre.
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