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: November 18, 1999
Date of earliest event reported: November 18, 1999
Commission file number 1-655
MAYTAG CORPORATION
A Delaware Corporation I.R.S. Employer Identification No.
42-0401785
403 West Fourth Street North, Newton, Iowa 50208
Registrant's telephone number: 515-792-7000
N/A
(Former name or former address, if changed since last report.)
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Item 5. Other Events
On November 18, 1999, Maytag Corporation announced the resignation of
its Chief Financial Officier and other changes in staff to fill out its
senior team.
A copy of the Company's press release issued November 18, 1999, is
attached as Exhibit 99(a) and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c)Exhibits.
The exhibits accompanying this report are listed in the accompanying
Exhibit Index.
2<PAGE>
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.
Maytag Corporation
(Registrant)
By: s/s G. J. Pribanic
G. J. Pribanic
Chief Financial Officer
November 18, 1999
(Date)
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EXHIBIT INDEX
The following exhibit is filed herewith.
Exhibit No. Exhibit
99(a) Press Release.
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Maytag Announces Resignation of CFO;
Changes in Staff to fill out Senior Team
NEWTON, IOWA (Nov. 18, 1999)--Maytag Corporation today announced that
Gerald J. Pribanic, executive vice president and chief financial officer,
has chosen to resign from the corporation to pursue other CFO
opportunities. A search is underway to fill the CFO position. Pribanic
will continue in his current responsibilities through a transition period.
Jerry managed the CFO s role during one of the more profitable
periods in Maytag s history, said Maytag Chairman and CEO Lloyd D. Ward.
His integrity and commitment to financial discipline are indicative of his
contribution to Maytag.
Ward also announced his intention to create a group president position
to lead the corporation s Home Solutions group, which encompasses the
corporation s major appliance and floor care divisions.
The major appliance division and the floor care division are key
engines to Maytag s earnings and value creation, Ward said. We have
talented leadership at the division level, and the Maytag, Hoover, and
Jenn-Air brands are among the best known in the marketplace. We also know
we can help accelerate growth and profitability with additional world-class
leadership at the group level, taking advantage of our strengths across the
enterprise and within each division. As I fill out the senior team that
will deliver growth from innovation and operating excellence, this is a key
position.
Another senior level change involves the promotion of Thomas P.
Schwartz, vice president, corporate communications, to chief administrative
officer, a newly created position. The appointment is effective Dec. 1,
1999. The chief administrative officer will directly support the CEO, with
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additional responsibility for corporate communications, corporate branding
and public relations, and the Maytag Foundation. No successor was named
immediately for the vice president, corporate communications, position.
The corporation also announced several other executive changes.
Edward H. Graham, senior vice president, general counsel and
secretary, will retire at the end of the year, as planned. A search is
underway for his successor, who will fill the position of chief legal
officer, reporting to Ward, with broad responsibility for leading the
corporation s law functions.
Jon O. Nicholas, vice president of human resources, has also announced
his intention to retire within the next 18 months. A search is underway to
fill the position of chief human resource officer, reporting to Ward. The
position carries broad responsibility for all human resource and
organizational transformation strategy, planning, and implementation across
the corporation. Until the new position is filled, Nicholas will continue
to manage corporate-wide human resource functions. Once the position is
filled, Nicholas will manage Maytag s talent development and Maytag
University until he retires. Maytag University is the corporation s
internal training and development program.
When fully constituted, Ward s senior staff will include the positions
named above, the corporation s chief technology officer, the Commercial
Solutions group president, the Worldwide Solutions group president, and the
vice president and general manager of the Emerging Solutions group.
Pribanic, 56, joined Maytag s floor care division, the Hoover Company,
in 1990 as vice president of finance and controller. He was named
executive vice president and CFO at Maytag Corporation in 1996. Prior to
joining Maytag, Pribanic was with Borg-Warner, serving as vice president,
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controller, Borg-Warner automotive, and as director of finance for Borg-
Warner Chemical in Europe. He joined Borg-Warner in 1974, after nine years
with the American Cyanamid companies.
Schwartz, 49, joined Maytag in 1995 as director, corporate
communications. He was named vice president in 1996. Before joining
Maytag, he held positions in corporate communications at the Mead
Corporation and American Airlines. Schwartz also held speechwriting and
public affairs positions at Vanderbilt University and the University of
Illinois.
Graham, 64, joined Maytag in 1986. His career includes private
practice and general counsel positions at AGRI Industries and Massey-
Ferguson.
Nicholas, 60, has been with Maytag s major appliance business since
1972. He served in human resource positions in the appliance division from
1972 to 1993, when he was named vice president, human resources, for Maytag
Corporation.
Maytag Corporation is a leading producer of home and commercial
appliances. Its products are sold to customers throughout North America
and in international markets.
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CPI9936
Media Contact: Additional
Information:
James G. Powell
www.maytagcorp.com
Maytag Communications
515-787-8392
[email protected]<PAGE>
