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):
February 6, 1998
THE PITTSTON COMPANY
(Exact Name of registrant as specified in its charter)
Virginia 1-9148 54-1317776
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of Incorporation)
1000 Virginia Center Parkway
P. O. Box 4229
Glen Allen, VA 23058-4229
(Address of principal (Zip Code)
executive offices)
(804)553-3600
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
On February 6, 1998, the Registrant announced that its
Chairman of the Board, Chief Executive Officer and President has
retired. A new President and Chief Executive Officer and non-executive
Chairman of the Board have been elected. Registrant's press release dated
February 6, 1998, is filed as an exhibit to this report and is incorporated
herein by reference.
EXHIBITS
99(a) Registrant's press release dated February 6, 1998.
SIGNATURE
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.
THE PITTSTON COMPANY
(Registrant)
By /s/ Gary R. Rogliano
Senior Vice President and
Chief Financial Officer
Dated: February 6, 1998
<PAGE>
EXHIBITS
Exhibit Description
99(a) Registrant's press release dated February 6, 1998.
CHAIRMAN OF THE PITTSTON COMPANY RETIRES:
NEW CEO, NON-EXECUTIVE CHAIRMAN ELECTED
Richmond, VA, February 6, 1998 -- Joseph C. Farrell,
Chairman of the Board, President and Chief Executive Officer of
The Pittston Company, today announced his decision to retire as
an Officer and Director of the company.
At the same time, the company elected Michael T. Dan,
President and Chief Executive Officer, and James R. Barker as a
non-executive Chairman of the Board. Mr. Dan, 48, is currently
President of Brink's Holding Company, Inc., a subsidiary of The
Pittston Company. Mr. Barker, 62, has been a Pittston Director
for four years.
Mr. Farrell, 62, joined Pittston in 1984 as Executive Vice
President. He became President and Chief Operating Officer in
1990 and was elected Chairman, President, and Chief Executive
Officer in 1991.
"During my tenure with Pittston, the company has grown and
prospered and today is in excellent financial condition," Mr.
Farrell said. "I'm retiring with the knowledge that the Pittston
companies are well positioned to meet the challenges of the
future."
"We are grateful for Joe Farrell's many years of valuable
service to Pittston," Mr. Barker said. "We wish him all the best
in his retirement."
Mr. Dan joined Brink's in 1982 as Director-Automotive Design
and later served as Regional Vice President-Western Region and
Executive Vice President-North America. Prior to joining
Brink's, he was President of Armored Vehicle Builders, Inc.
Mr. Barker is Chairman of The Interlake Steamship Co. and
Vice Chairman of Mormac Marine Group, Inc. and Moran
Transportation Company. He formerly served as Chairman and Chief
Executive Officer of Moore McCormack Resources, Inc. He is a
Director of Eastern Enterprises and GTE Corporation.
Mr. Farrell's retirement and the elections of Mr. Dan and
Mr. Barker are effective immediately.
Pittston Burlington Group Common Stock (NYSE: PZX), Pittston
Brink's Group Common Stock (NYSE: PZB), and Pittston Minerals
Group Common Stock (NYSE: PZM) represent the three classes of
common stock of The Pittston Company, a diversified company based
in Richmond, VA.
