SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES ACT OF 1934
Date of Report (Date of earliest event reported): May 22, 2000
___________________
FECHTOR, DETWILER, MITCHELL & CO.
(Exact name of registrant as specified in charter)
DELAWARE 0-12926 95-2627415
(State of other jurisdiction (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification No.)
225 FRANKLIN STREET, 20TH FLOOR, BOSTON, MASSACHUSETTS 02110
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 617-451-0100
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ITEM 5. OTHER EVENTS
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On May 22, 2000, the Registrant announced that Richard
Fechtor retired as Chief Executive Officer and as a member of the
Board of Directors of the Registrant. Additionally, James
Mitchell was named as Chief Executive Officer, Andrew Detwiler
was named President and Robert Detwiler was appointed by the
Board of Directors to fill the vacancy on the Board resulting
from Richard Fechtor's retirement. The Registrant also announced
its repurchase of 1,400,000 shares of Common Stock from
Mr. Fechtor at a price of $1.00 per share. Such repurchase was
completed on May 29, 2000.
A copy of the press release concerning this announcement is
attached as Exhibit 28.1 to this Report and is hereby
incorporated by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits.
The following exhibit is filed herewith:
28.1 Press Release dated May 22, 2000 announcing
retirement of Richard Fechtor and repurchase
of shares of Common Stock.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the Registrant has duly caused this Report to be signed
on its behalf by the undersigned hereunto duly authorized.
FECHTOR, DETWILER, MITCHELL & CO.
Dated: June 13, 2000 By: /s/ ROBERT E. JEFFORDS
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Robert E. Jeffords
Assistant Secretary
2
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EXHIBIT 28.1
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NEWS RELEASE FEDM
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Contacts: James K. Mitchell Stephen D. Martino
Chairman and CEO Chief Financial Officer
(858) 450-0055 (617) 747-0154
Fechtor, Detwiler, Mitchell & Co. Announces Retirement of Richard Fechtor
BOSTON, MA (May 22, 2000) - Fechtor, Detwiler, Mitchell & Co. (NASDAQ:
FEDM) today announced the following management changes at its parent
company. Richard Fechtor retired as Chief Executive Officer and
Director, Robert Detwiler was elected a Director and James K. Mitchell
was appointed Chief Executive Officer. Additionally, Andrew Detwiler
was appointed President. In connection with Mr. Fechtor's retirement,
the Company repurchased 1,400,000 common shares of Fechtor, Detwiler,
Mitchell & Co. from Mr. Fechtor at the price of $1.00 per share.
Commenting on the transition, Mr. Mitchell stated, "We appreciate Rich
Fechtor's many contributions to the Company and we look forward to his
continued association with us in a consulting capacity." He
continued, "We are delighted to have founder Bob Detwiler back on the
Board of Directors."
Richard Fechtor stated that he feels confident that the Company has
never been in a better position to move forward. "As I approach my
70th birthday it is time for the management team currently in place to
move the Company ahead."
[FEDM LOGO]
225 Franklin Street, 20th Floor
Boston, MA 02110
(617) 451-0100
