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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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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 18, 1997
PICTURETEL CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-9434 04-2835972
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
100 Minuteman Road, Andover, MA. 01810
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number: 508-292-5000
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Item 5. Other Events
On May 2, 1997, the Company issued a press release announcing the
retirement of Les B. Strauss as Vice President and Chief Financial Officer. The
release stated that he would continue in his position until a successor was
named. The Company issued a press release on June 12, 1997 reporting that
Richard B. Goldman had been appointed as Vice President and Chief Financial
Officer replacing Les B. Strauss.
Financial Statements and Exhibits
(a) Financial Statements of business acquired
Not applicable
(b) Pro forma financial information
Not applicable
(c) Exhibits:
10(a) Press Release dated May 2, 1997
10(b) Press Release dated June 12, 1997
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SIGNATURE
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Pursuant to the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
PICTURETEL CORPORATION
/s/ Domenic J. LaCava
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Domenic J. LaCava
President and Chief Operating Officer
June 18, 1997
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Exhibit 10(a)
NEWS RELEASE
LES B. STRAUSS TO RETIRE AS CFO OF PICTURETEL CORPORATION
ANDOVER, Mass. -- MAY 2, 1997 -- PictureTel Corporation (NASDAQ: PCTL), the
global videoconferencing company, today announced that Les B. Strauss, the
company's vice president and chief financial officer, will retire. Mr.
Strauss, who has been CFO at PictureTel for the past seven years, will
continue in his position until the company names a successor.
"Les Strauss has made outstanding contributions to PictureTel as our
CFO," said Dr. Norman E. Gaut, PictureTel's chairman and CEO. "His skill
and leadership have helped us become the leader in the videoconferencing
industry and positioned us for continued success in the future. I speak for
everyone at PictureTel when I thank Les for all of his fine work on behalf
of the company."
PictureTel Corporation is the world leader in developing,
manufacturing and marketing a full range of videoconferencing technologies.
The company's products serve videoconferencing needs from the desktop to
the boardroom. PictureTel also markets network conferencing products and a
comprehensive portfolio of enterprise-wide services. Additional PictureTel
information is available on the Internet at www.picturetel.com. PictureTel
videoconferencing eliminates the barrier of distance, enabling people to be
Anywhere Now.
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PictureTel is a registered trademark of PictureTel Corporation. Anywhere
Now is a trademark of PictureTel Corporation.
Recent PictureTel news releases are available on our Web site at
www.picturetel.com.
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Exhibit 10(b)
NEWS RELEASE
PICTURETEL CORPORATION APPOINTS RICHARD B. GOLDMAN
CHIEF FINANCIAL OFFICER
ANDOVER, Mass. -- JUNE 12, 1997 -- PictureTel Corporation (NASDAQ: PCTL),
the world leader in videoconferencing, today announced the appointment of
Richard B. Goldman as vice president and chief financial officer. Goldman
succeeds Les B. Strauss, who recently retired.
Goldman will oversee all of PictureTel's worldwide financial and
investor relations functions as well as its information technology
organization. He will join PictureTel in July and report to Dr. Norman E.
Gaut, PictureTel's chairman and CEO.
Goldman has more than 20 years of senior management experience in
finance and operations. Most recently he was senior vice president and CFO
of Giga Information Group in Cambridge, Mass. Prior to that, he served as
CFO of several high-technology companies, including Prime Computer in
Natick, Mass., and Sequoia Systems in Marlborough, Mass.
"Dick Goldman brings to PictureTel a tremendous amount of
high-technology financial experience and expertise," said Dr. Gaut. "His
distinguished track record makes him the right choice to lead our finance
organization as the company continues to expand into new markets around the
world."
PictureTel Corporation is the world leader in developing,
manufacturing and marketing a full range of videoconferencing solutions.
The company's systems meet customers videoconferencing needs from the
desktop to the boardroom. PictureTel also markets network conferencing
servers and a comprehensive portfolio of enterprise-wide services.
Additional PictureTel information is available on the Internet
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at www.picturetel.com. PictureTel videoconferencing eliminates the barrier
of distance, enabling people to be Anywhere Now(TM).
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PictureTel is a registered trademark and Anywhere Now is a trademark of
PictureTel Corporation.
