SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Filed pursuant to Section 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
January 12, 1999
Date of Earliest Event Reported
COMDISCO, INC.
(a Delaware Corporation)
6111 North River Road
Rosemont, Illinois 60018
Telephone (847) 698-3000
Commission file number 1-7725
I.R.S. Employer Identification Number 36-2687938
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Item 5 Other Events
On January 12, 1999, the Company reported that its Board of Directors named
Nicholas K. Pontikes as President and Chief Executive Officer. He succeeds Jack
Slevin, 62, who has led Comdisco for the past five years, guiding the company
through its transition to a technology services company. Pontikes, 34, has been
a member of the board since 1993 and has been serving as president and chief
operating officer. Slevin has retired as chief executive and resigns as chairman
and a member of the board of directors. The position of chairman remains
unfilled at this time.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release Announcing Nicholas K. Pontikes as New Chief Executive
Officer
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
COMDISCO, INC.
Date: January 14, 1999 by: /s/John J. Vosicky
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John J. Vosicy
Executive Vice President
and Chief Financial Officer
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Exhibit 99.1
news release
For Immediate Release
Contact: Mary Moster
Comdisco, Inc.
(847) 518-5147
[email protected]
COMDISCO ANNOUNCES NICHOLAS K. PONTIKES
AS NEW CHIEF EXECUTIVE: SLEVIN RETIRES
Appointment Consistent with Business Strategy to Grow
Comdisco as Services Company
ROSEMONT, IL., JANUARY 12, 1999 -- Comdisco, Inc. (NYSE: CDO) today reported
that its Board of Directors has named Nicholas K. Pontikes as President and
Chief Executive Officer. He succeeds Jack Slevin, 62, who has led Comdisco for
the past five years, guiding the company through its transition to a technology
services company.
Pontikes, 34, has been a member of the board since 1993 and has been
serving as president and chief operating officer. Slevin has retired as chief
executive and resigns as chairman and a member of the board of directors. The
position of chairman remains unfilled at this time.
"I am stepping down at a time when both the board and I are confident
about the strength of the company's business potential and leadership," said
Slevin. "In Nick, Comdisco has a leader who knows the business and is well
respected by the organization. Nick was the driving force behind our strategies
to grow our services business. From the success we've demonstrated in building
both the profitability and the scope of our services business, it is clear that
Nick is in close touch with both customer needs and market opportunities."
"I'd like to thank Jack for his contributions over the past twenty-four
years in building Comdisco and helping to position the company for the future,"
said Pontikes. "As CEO, I will work with a highly motivated management team to
continue our strategy of providing global solutions for our customers,
increasing our technology services business and expanding our leasing portfolio
into fast-growing technology areas. This group, which collectively owns about 33
percent of the company, has grown our communications portfolio to nearly $1
billion and built our electronics business from a start-up in 1992 to more than
$1 billion today. They have also been instrumental in increasing pre-tax
earnings from our services business from $10 million in 1993 to $71 million in
1998. We have a strong base, the right management team and great opportunities
both in North America and abroad."
Comdisco also reported that Alan Andreini, who left Comdisco as
Executive Vice President in May 1997, has resigned from the Board of Directors.
Comdisco (NYSE:CDO) is a technology services company and a leader in
providing infrastructure management and optimization services, which are the
underlying technological components and services necessary to deliver
information and applications any time, any where, without delay or disruption.
Comdisco provides the key elements of infrastructure management, including
desktop management services, managed network services, business continuity
services, financial management services, and the software tools to support these
areas. Comdisco's revenue for the fiscal year ended September 30, 1998, were
$3.2 billion. For general information on Comdisco, visit the company's Web site
at http://www.comdisco.com.
