SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): July 1, 1996
Golden Books Family Entertainment, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-14399 06-1104930
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
850 Third Avenue, New York, New York 10022
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:(212) 753-8500
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On July 1, 1996, Golden Books Family Entertainment,
Inc. (the "Company") announced that Philip Rowley was named
Executive Vice President, Chief Finanacial Officer of the
Company and Chief Operating Officer of Golden Books Publishing
Company, a subsidiary of the Company. The complete text of the
press release issued by the Company is attached hereto as an
exhibit.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
c. Exhibits
99. Press Release, dated July 1, 1996
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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.
GOLDEN BOOKS FAMILY ENTERTAINMENT, INC.
Dated: July 1, 1996 By: /s/ Richard E. Snyder
Richard E. Snyder
Chairman of the Board,
President and
Chief Executive Officer
CONTACT: NEWS
Tracey G. Riese
Golden Books Family Entertainment, Inc.
212-583-6710
PHILIP ROWLEY NAMED EXECUTIVE VICE PRESIDENT,
CHIEF FINANCIAL OFFICER OF
GOLDEN BOOKS FAMILY ENTERTAINMENT
------------------------------------------
Rowley Will Also Become Chief Operating Officer of
Golden Books Publishing Company
New York, July 1, 1996 -- Golden Books Family Entertainment,
Inc. (NASDAQ: GBFE) announced today that Philip Rowley has been named
Executive Vice President, Chief Financial Officer of Golden Books
Family Entertainment. In his new capacity, he is responsible for all
aspects of the Company's financial operations and will report to
Richard E. Snyder, Chairman and Chief Executive Officer.
Additionally, Mr. Rowley has been appointed Chief Operating Officer
of Golden Books Publishing Company. Both positions are effective
immediately.
"Filling top financial and operating positions is key to our
goal of building up content, growing distribution and developing
brand identity," said Mr. Snyder. "We are moving rapidly to bring on
the best people." The appointment of Philip Rowley marks an
important milestone for our Company.
"Philip brings an impressive background covering all areas
important to Golden Books. His financial expertise, together with
his extensive operating experience make him the ideal person to help
restore and build our Golden Books franchise. His successful track
record testifies to the diverse and strategic assignments he has
handled. He has in-depth knowledge of the entertainment industry,
success with corporate turnarounds, acquisitions, planning and re-
engineering. He will make a strong contribution to the Company as we
move to expand into family entertainment across a wide spectrum of
media. Philip's decision to join us demonstrates again that the
substantial potential of this turnaround is drawing exceptional
talent to the Company."
Most recently, Mr. Rowley co-founded Tribeca Technologies in
1995. As a Wide-Area Network Reseller, Tribeca Technologies provides
expertise in communications and computer technology, in particular to
media and entertainment companies.
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page 2
Prior to that, Mr. Rowley was Executive Vice President and Chief
Financial Officer of EMI Music, the $3 billion worldwide music major,
with responsibility for finance, strategic planning, human resources,
information technology, manufacturing, distribution and the recording
studios. While there, he co-managed the company's turnaround,
increasing profits eightfold over six years. He also played a key
role in negotiating the $900 million purchase of Virgin Music Group
and supervised its integration with EMI.
From 1987 to 1988, Mr. Rowley was Group Financial Controller of
Kingfisher plc, a large UK retail group, where he set up a new
finance department. From 1977 to 1986, he held a variety of
financial positions with THORN EMI's music, film and video divisions.
He began his career as an auditor with Peat Marwick Mitchell & Co. in
1973.
Mr. Rowley received a Bachelor of Science degree in chemical
engineering from Imperial College in London in 1973. In 1977, he
became a Fellow of the Institute of Chartered Accountants in England
and Wales, and in 1990 became a Fellow of the Royal Society of Arts.
Golden Books Family Entertainment, Inc., the world's largest
juvenile publisher, creates, publishes and markets story and picture
books, interactive and electronic books and games, as well as
coloring books, activity books and other products for children and
families.
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