<PAGE>
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) September 29, 1998
ASSOCIATES CORPORATION OF NORTH AMERICA
(Exact name of registrant as specified in its charter)
DELAWARE 74-1494554
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
1-6154
(Commission File Number)
250 E. Carpenter Freeway, Irving, Texas 75062-2729
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (972) 652-4000<PAGE>
Item 5. Other Events.
Associates First Capital Corporation, the parent of the Registrant, announced
the retirement in early 1999 of Harold D. Marshall, president and chief
operating officer of the Registrant. A copy of the news release is attached
as an Exhibit hereto and incorporated by reference herein.
Item 7. Financial Statements and Exhibits
( C ) Exhibits
20 - News release by Associates First Capital Corporation dated
September 29, 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.
ASSOCIATES CORPORATION OF NORTH AMERICA
By:/s/ Timothy M. Hayes
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Assistant Secretary
September 29, 1998
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THE ASSOCIATES.
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NEWS
News Media: (972) 652-4522 FOR IMMEDIATE RELEASE
LONG-TIME LEADER OF THE ASSOCIATES TO RETIRE;
FIVE EXECUTIVES NAMED TO SENIOR LEADERSHIP POSITIONS
Dallas -- (Sept. 29, 1998) -- Keith W. Hughes, chairman
and chief executive officer of Associates First Capital
Corporation (NYSE: AFS), today announced the retirement in early
1999 of Harold D. Marshall, 62, president and chief operating
officer of the financial services corporation. "Hal culminates
an illustrious 38-year career at The Associates where his legacy
will remain the strength of the management team he has led and
developed," Hughes said.
According to Hughes, the company will not name a
replacement, electing instead to promote to senior executive
vice president its operating business leaders, who will report
directly to Hughes.
"Clearly, Hal's leadership, knowledge and experience have
contributed greatly to our 24-year record of consecutive
earnings improvements," said Hughes, who credits Marshall with
The Associates success in commercial lending. "That we can
elevate members of our current team is a credit to Hal's ability
to select and develop outstanding management talent."
Named to senior executive vice president are David A.
Brooks, 58, Insurance Operations; Wilfred Y. Horie, 52,
International Operations; Lawrence J. Pelka, 56, Commercial
Operations; Joseph N. Scarpinato, 53, Credit Card Operations;
and Thomas R. Slone, 56, Consumer Operations. The executives
have a combined total of 89 years of experience with The
Associates. They will join Roy A. Guthrie, 45, chief financial
officer, as senior executive vice presidents of the company.
In announcing his decision to retire, Marshall said,
"We've worked hard to build The Associates into one of the
nation's leading financial institutions, and the company is well
positioned to continue its strong track record of performance.
By making my decision public at this time, we can effect an
orderly transition."
Marshall began in the company's system of branch offices
in 1961. In 1974, he organized the company's Transportation
Division, which today is the world's largest financing source
for the sale of heavy-duty trucks and truck trailers.
He became president of the Commercial Division in 1980
and, since 1996, has served as president and chief operating
officer of the corporation.
Associates First Capital Corporation is a leading
diversified finance company providing consumer and commercial
finance, leasing and related services worldwide. Headquartered
in Dallas, it is one of the nation's 100
largest companies, based on total market capitalization.
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