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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): April 13, 1998
CML Group, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
001-09630 04-2451745
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(Commission File Number) (I.R.S. Employer Identification No.)
524 Main Street
Acton, Massachusetts 01720
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(Address of Principal Executive Offices) (Zip Code)
(978) 264-4155
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS
On April 14, 1998, CML Group, Inc. (the "Company") announced certain
organizational changes. The Board of Directors elected John A. C. Pound as
Chairman of the Board and Chief Executive Officer and G. Robert Tod as Vice
Chairman, and announced the resignation of Charles M. Leighton as director on
April 13, 1998. Mr. Pound previously served as Chairman and Acting Chief
Executive Officer. Mr. Tod formerly served as President and Chief Operating
Officer. In submitting his resignation, Mr. Leighton noted the different
leadership style of the present Chief Executive Officer and that there were
conflicting opinions among Board members as to whether, as former Chief
Executive Officer, he should remain as a director.
The foregoing description of the announcement is qualified in its entirety
by reference to the full text of the Company's press release which is filed as
Exhibit 99 to this Current Report on Form 8-K and incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION
Not applicable.
(c) EXHIBITS.
The exhibit following the Exhibit Index is incorporated herein by
reference.
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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.
Date: April 22, 1998
CML GROUP, INC.
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(Registrant)
By: /s/ Paul J. Bailey
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Paul J. Bailey
Controller and
Principal Accounting Officer
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EXHIBIT INDEX
Exhibit
Number Description
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99 Press Release dated April 14, 1998
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EXHIBIT 99
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CML NEWS RELEASE
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524 Main Street
Acton, Massachusetts 01720
Telephone: (978) 264-4155
CONTACT: Lynn Harrison
Director of Investor Relations
978-264-4155
FOR IMMEDIATE RELEASE
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April 14, 1998
CML ANNOUNCES ORGANIZATIONAL CHANGES
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Acton, Mass., April 14, 1998 -- CML Group, Inc. (NYSE: CML), announced
today certain organizational changes. The Board of Directors today elected John
A.C. Pound as Chairman of the Board and Chief Executive Officer of the Company.
Mr. Pound previously served as Chairman and Acting Chief Executive Officer.
The Board of Directors also appointed G. Robert Tod, a co-founder of the
Company, as Vice Chairman of the Company. Mr. Tod formerly served as President
and Chief Operating Officer.
In addition, the Company announced that Charles M. Leighton, co-founder of
the Company, resigned as director on April 13, 1998. Mr. Leighton was succeeded
by Mr. Pound as Chief Executive Officer on February 20, 1998. In submitting his
resignation, Mr. Leighton noted the different leadership style of the present
Chief Executive Officer and that there were conflicting opinions among Board
members as to whether, as former Chief Executive Officer, he should remain as a
director.
CML is a leading marketer of products for consumers that enhance healthy,
active lifestyles. Its products are sold under the trade names NordicTrack,
Nordic Advantage and Smith & Hawken.
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