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 4, 1996
CINCINNATI MICROWAVE, INC.
(Exact name of registrant as specified in its charter)
Ohio 0-13136 31-0903863
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One Microwave Plaza, Cincinnati,Ohio 45249-9502
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (513) 489-5400
(Former name, former address and former fiscal year, if changed since last
report)
Item 5. Other Events
CINCINNATI, June 4, 1996-Cincinnati Microwave, Inc. (Nasdaq: CNMW)
today announced that Erika Williams, a director of the company
since 1994, has been appointed president and chief executive officer
effective June 10, 1996. Current President and Chief Executive Officer
Jacques A. Robinson will remain on the board of directors and continue to
lead the company's efforts to develop strategic partnerships.
Commenting on the transition, Robinson said, "Erika's extensive experience
in managing high technology businesses in rapidly developing markets and
familiarity with Cincinnati Microwave make her the ideal person to lead
Cincinnati Microwave."
Williams, 49, has served as chief executive officer of Systems Integrators,
Inc., a company that designs, manufactures, markets and services publishing
systems to the newspaper publishing industry, since March 1996 and chief
operating officer from July 1995. From 1978 to 1995, Williams held
various positions with Amdahl Corporation, a developer and manufacturer
of mainframe computers, including senior vice president and general
manager of Enterprise Storage Systems (an Amdahl subsidiary), corporate
officer responsible for product management of the mainframe business, vice
president of processor technology and development and director of product
software and diagnostics. She holds a Master of Business Administration
degree from the Massachusetts Institute of Technology, as well as Bachelor
of Science and Master of Science degrees in Computer Science from Boston
University.
Williams commented on her appointment, "Recent results indicate that
Cincinnati Microwave has completed key steps and is continuing to take
steps to improve its performance. Its products continue to be received
favorably in the marketplace. I am looking forward to the challenge of
managing the company to further improve its performance."
Robinson, the company's third largest shareholder, will continue to devote
extensive time to the company. He added, "Cincinnati Microwave has
consistently sought strategic partnerships to strengthen the market position
of its leading edge products. With Erika leading the company, I can devote
time to this important component of our strategy to maximize shareholder
value."
Item 7. Financial Statements and Exhibits
(c) Exhibits.
99(i) - Press release of Cincinnati Microwave, Inc. dated June 4,1996.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Cincinnati Microwave, Inc. has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
June 4, 1996
CINCINNATI MICROWAVE, INC.
By:/ss/ Elaine M. Bacon
Elaine M. Bacon
Assistant Corporate Secretary
PRESS RELEASE
FOR FURTHER INFORMATION:
At the Company: At the Financial Relations Board:
Elaine Bacon Bill Schmidle, Analyst Inquiries
513-489-5400 312-640-6753
[email protected] Karl Plath, General Inquiries
312-640-6738
FOR IMMEDIATE RELEASE
CINCINNATI MICROWAVE APPOINTS NEW CEO IN PLANNED
TRANSITION
CINCINNATI, June 4, 1996_Cincinnati Microwave, Inc. (Nasdaq:CNMW)
today announced that Erika Williams, a director of the
company since 1994, has been appointed president and chief
executive officer effective June 10, 1996. Current President and
Chief Executive Officer Jacques A. Robinson will remain on the
board of directors and continue to lead the company's efforts to
develop strategic partnerships.
Commenting on the transition, Robinson said, "Erika's extensive
experience in managing high technology businesses in rapidly
developing markets and familiarity with Cincinnati Microwave make
her the ideal person to lead Cincinnati Microwave."
Williams, 49, has served as chief executive officer of Systems
Integrators, Inc., a company that designs, manufactures, markets
and services publishing systems to the newspaper publishing
industry, since March 1996 and chief operating officer from July
1995. From 1978 to 1995, Williams held various positions with
Amdahl Corporation, a developer and manufacturer of mainframe
computers, including senior vice president and general manager of
Enterprise Storage Systems (an Amdahl subsidiary), corporate
officer responsible for product management of the mainframe
business, vice president of processor technology and development
and director of product software and diagnostics. She holds a
Master of Business Administration degree from the Massachusetts
Institute of Technology, as well as Bachelor of Science and Master
of Science degrees in Computer Science from Boston University.
Williams commented on her appointment, "Recent results indicate
that Cincinnati Microwave has completed key steps and is continuing
to take steps to improve its performance. Its products continue to be
received favorably in the marketplace. I am looking forward to the
challenge of managing the company to further improve its
performance."
Robinson, the company's third largest shareholder, will continue to
devote extensive time to the company. He added, "Cincinnati
Microwave has consistently sought strategic partnerships to
strengthen the market position of its leading edge products. With
Erika leading the company, I can devote time to this important
component of our strategy to maximize shareholder value."
Cincinnati Microwave designs, manufactures and markets ultrahigh
frequency and microwave wireless communications products. The
company's product lines include radar warning devices, digital
spread spectrum cordless telephones and wireless data modems for
use on the Cellular Digital Packet Data (CDPD) network. The
company's products combine its experience in ultrahigh frequency
and microwave wireless technology, including digital signal
processing, with its high volume manufacturing capabilities.
The company markets its products both under the ESCORTr brand
name through direct advertising and as an Original Equipment
Manufacturer (OEM) supplier. The company's strategy for entering
new markets is to align with companies that have established sales
leadership and market positions. This strategy is designed to
provide broader access to the end user. The company produces
digital spread spectrum telephones for several leading marketers of
consumer telephones. The company's common stock is traded on
the Nasdaq National Market System under the symbol CNMW.
Additional information on the company, its products and
markets can be obtained from the Company's world wide web
site: http://www.cnmw.com/welcome.htm. Information about
Cincinnati Microwave also is available, free of charge via fax, by
dialing 1-800-PRO-INFO and using ticker symbol CNMW.
