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): December 27, 1998
Penobscot Shoe Company
(Exact name of registrant as specified in its charter)
Maine
(State or other jurisdiction of incorporation or organization)
1-5548
(Commission File Number)
01-0139580
(IRS Employer Identification No.)
450 North Main Street, Old Town Maine
(Address of principal executive offices)
04468
(Zip Code)
Registrant's telephone number, including area code: (207) 827-4431
Not Applicable
(Former name or former address, if changed since last report)
Item 5. Other Events. On December 27, 1998, Paul Hansen died unexpectedly
at his home in Brewer, Maine. Mr. Hansen was the President and Chief
Executive Officer of the Company since January 1, 1994. The Chairman of the
Board of Directors, Irving Kagan, who has remained active and involved with
the Company since his retirement in 1993, has resumed responsibilities as
Chief Executive Officer. Mr. Kagan has been a Director since 1960, and he
previously served as Chief Executive Officer of the Company from 1973 until
December 31, 1993. On December 28, 1998, the Company issued the following
press release:
PUBLIC RELEASE
______________
Penobscot Shoe Company reported today the unexpected death of Paul Hansen,
President and Chief Executive Office, on December 27, at his home in Brewer,
Maine. Hansen started his long career with Penobscot in 1958 as an hourly
paid production worker and rose to the Presidency in 1994. He is well known
and highly regarded in the shoe industry and was serving as Director of
FFANY, a primary association of the footwear industry, at the time of his
death.
<PAGE>
The Chairman of the Board, Irving Kagan, who has remained active and involved
with the Company since his retirement in 1993, will resume responsibilities
as Chief Executive Officer.
SIGNATURES
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.
PENOBSCOT SHOE COMPANY
_______________________
(Registrant)
David L. Keane
January 7, 1999 _______________________
By: David L. Keane
Vice President/Finance and
Administration
