<PAGE>
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
EXHIBIT INDEX IS ON PAGE 3
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): AUGUST 4, 1997
CoreStates Financial Corp
-------------------------------------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Pennsylvania 0-6879 23-1899716
------------ ------ ----------
(STATE OR OTHER (COMMISSION (IRS EMPLOYEE
JURISDICTION OF FILE NUMBER) IDENTIFICATION NO.)
INCORPORATION)
Centre Square West, 1500 Market Street
Philadelphia, Pennsylvania 19101
-------------------------- -----
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE, INCLUDING AREA CODE: (215) 973-7488
--------------
__________________________________________________________________
(FORMER NAME AND FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
1 of 5
<PAGE>
ITEM 5. OTHER EVENTS.
-------------
The information set forth in the news release of CoreStates Financial Corp
as Exhibit 99 is incorporated by reference and made a part hereof.
ITEM 7. EXHIBITS.
---------
99 CoreStates Financial Corp News Release dated August 4, 1997.
SIGNATURE
---------
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.
CORESTATES FINANCIAL CORP
(Registrant)
Dated: August 4, 1997 By /s/ David T. Walker
-----------------------------
David T. Walker
Senior Vice President
2 of 5
<PAGE>
Exhibit Index
-------------
Exhibit No. Page
- ----------- ----
99 CoreStates Financial Corp News
Release dated August 4, 1997 4
3 of 5
<PAGE>
CoreStates Financial Corp
Broad and Chestnut streets
PO Box 7558
Philadelphia, PA 19101-7558
Exhibit 99
[CORESTATES LOGO APPEARS HERE]
Contact George Biechler or Linda Stryker
215-973-3546
For Release Immediately Upon Receipt
GRECO LEAVING CORESTATES FINANCIAL CORP;
NEW SENIOR ASSIGNMENTS ANNOUNCED
Philadelphia, August 4, 1997--CoreStates Financial Corp said today that its
president, Rosemarie B. Greco, is leaving the company for personal reasons
effective early 1998. Greco also is president and chief executive officer of
CoreStates Bank, N.A. Terrence A. Larsen, chairman and chief executive officer
of the corporation and chairman of the bank, immediately will assume the
president titles and Greco's management responsibilities will be divided among
several senior executives.
"It is with sadness and a sense of loss that I must announce Rosemarie
Greco's decision to leave CoreStates after six years," Larsen said.
"Rosemarie came to CoreStates at a time when we were embarking upon major
changes in the company's culture and entering a period of rapid growth," he
said. "During this period, as we doubled our size and went through some of the
most wrenching changes in our history, Rosemarie has done a lot to build and
change our organization. She has accomplished more than she set out to
accomplish and has extended her original time horizon for her work with us. I
appreciate especially the personal leadership she has contributed to our
continuing culture change, and her role, through all the turmoil of change, in
building our strong regional banking leadership.
"Rosemarie has made her influence felt throughout the CoreStates
organization, and she will be truly missed. I am very sorry to see her leave,"
Larsen said.
Greco said she had made it known when she came to CoreStates that she did
not expect to remain for the rest of her career.
-more-
4 of 5
<PAGE>
"My commitment has stretched across a challenging and fulfilling six
years," she said. "I have enjoyed working with the people here at CoreStates,
and I am proud of what we have accomplished together. Now the company is
settling down from the intense efforts that went into our process redesign and
bank mergers, and is taking a fresh look at its strategic directions. It is an
opportune time for me to step back and take a fresh look at my personal
directions."
THE RESTRUCTURED MANAGEMENT TEAM
Larsen will immediately assume Greco's president titles, and Greco's
management responsibilities will be divided among Charles L. Coltman, III, who
remains vice chairman of CoreStates Financial Corp; Charles P. Connolly, Jr.,
who remains vice chairman of CoreStates Bank; and P. Sue Perrotty, Executive
Vice President.
Greco will continue to report to Larsen through the transition until her
departure from CoreStates early in 1998.
Coltman, in addition to his current responsibilities for global and
specialized banking services, will add the banking services and CoreStates Asset
Management and CoreStates Investment Management functions to his
responsibilities.
Connolly also will assume new responsibilities in addition to managing the
bank's retail branch system, commercial and middle market lending and retail
credit functions.
Connolly, who previously reported to Greco, now reports to Larsen. His new
responsibilities include the consumer segment marketing and development and
corporate communications functions.
Reporting for the first time to Connolly for the consumer segment marketing
and development function will be Perrotty, who formerly reported to Greco for
the information technology function. In a dual reporting capacity, Perrotty
also will now report to Larsen, specifically for the information technology
function.
5 of 5
