SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported - April 12, 1999):
April 16, 1999
OUTBOARD MARINE CORPORATION
(Exact name of registrant as specified in charter)
Delaware 1-2883 36-1589715
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
100 Sea Horse Drive, Waukegan, Illinois 60085
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (847) 689-6200
Item 4. Change in Registrant's Certifying Accountant.
(a) On April 12, 1999, Outboard Marine Corporation (the "Registrant")
dismissed Arthur Andersen LLP as its independent certified public accountant.
There have been no adverse opinions, disclaimers of opinion or qualifications or
modifications as to uncertainty, audit scope or accounting principles regarding
the reports of Arthur Andersen LLP on the Registrant's financial statements for
the three month transition period ended December 31, 1998 and for each of the
fiscal years ended September 30, 1998 and 1997, or any subsequent interim
period. The Audit Committee of the Registrant's Board of Directors approved the
change of accountants and that action was ratified by the Board of Directors of
the Registrant. There were no disagreements with Arthur Andersen LLP on any
matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedures leading to their dismissal.
There were no reportable events, in each case, during either of the
Registrant's two most recent fiscal years or any subsequent interim period.
(b) Simultaneously with the dismissal of its former accountants, the
Registrant approved and engaged KPMG Peat Marwick LLP to act as its
independent certified public accountant as successor to Arthur Andersen LLP.
During the Registrant's two most recent fiscal years or subsequent interim
periods the Registrant has not consulted KPMG Peat Marwick LLP regarding the
application of accounting principles to a specified transaction, either
completed or proposed; or the type of audit opinion that might be rendered on
the Registrant's financial statements, or any matter that was the subject of a
disagreement or a reportable event.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) EXHIBITS
16.1 Letter from Arthur Andersen LLP dated April 16, 1999, addressed to
the Securities and Exchange Commission.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed for and on its
behalf by the undersigned hereunto duly authorized.
OUTBOARD MARINE CORPORATION
Dated: April 16, 1999 By /s/ Andrew P. Hines
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Executive Vice President and
Chief Financial Officer
Exhibit 16
[LETTERHEAD OF ARTHUR ANDERSEN LLP]
April 16, 1999
Office of Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sir/Madam:
We have read the two paragraphs of Item 4(a) included in the Form 8-K
dated April 16, 1999 of Outboard Marine Corporation (the "Company") to be filed
with the Securities and Exchange Commission and are in agreement with the
statements contained therein.
Very truly yours,
ARTHUR ANDERSEN LLP
cc: Mr. Andrew P. Hines,
Executive Vice President and
Chief Financial Officer
Outboard Marine Corporation
