SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Securities Exchange Act of 1934
Date of Report (date of earliest event reported)June 11, 1996
Computervision Corporation
(Exact name of registrant as specified in charter)
Delaware 1-7760/0-20290 04-2491912
(State or other (Commission (IRS Employer
jurisdiction File Numbers) Identification
of incorporation) Number)
100 Crosby Drive, Bedford, MA 01730
(Address of principal executive offices)
Registrant's telephone number, including area code
(617) 275-1800
(Former name or former address, if changed since last report)
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Item 5. Other Events
On June 11, 1996, the Company issued a press release announcing the appointment
of Kathleen A. Cote as Chief Executive Officer, effective November 1, 1996,
replacing Russell E. Planitzer who will continue to remain active in the
Company and remain as Chairman of the Board at least until June, 1998.
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Item 7. Financial Statements and Exhibits
(a) Financial Statements of business acquired:
Not applicable
(b) Pro Forma financial information
Not applicable
(c) Exhibits:
(99)(a) Press Release dated June 11, 1996
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Computervision Corporation
(Registrant)
By
Anthony N. Fiore, Jr.
Vice President, Business
Operations and General Counsel
Date: June 13, 1996
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Computervision Corporation
(Registrant)
By /S/ Anthony N. Fiore, Jr.
Anthony N. Fiore, Jr.
Vice President, Business
Operations and General Counsel
Date: June 13, 1996
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EXHIBIT INDEX
Exhibit No. Page No.
(99)(a) Press Release dated June 11, 1996 7,8,9
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FOR IMMEDIATE RELEASE
=====================
Cote to Become Computervision's Chief Executive Officer;
Planitzer to Continue as Chairman and Member of Senior Management
Computervision on Growth Track with Turnaround Completed
BEDFORD, Mass., June 11, 1996 -- Kathleen A. Cote, President and Chief
Operating Officer of Computervision (NYSE:CVN), has been named by the
Board of Directors to assume the role of Chief Executive Officer
effective November 1, 1996.
Russell E. Planitzer, Chairman and Chief Executive Officer, announced
at the company's Annual Meeting of Shareholders that Cote's appointment
was consistent with the management succession strategy which he and the
Board have had in place over the past three years.
Planitzer further announced that, also consistent with the strategy, he
will continue to serve as Computervision's Chairman and be active in
the corporation until at least June 1998.
In addressing shareholders about Cote's appointment, Planitzer
emphasized that, "Kathy Cote has been a key member of Computervision's
senior management team since I was named by the Board as Chairman and
Chief Executive Officer. Over the past three years, we have worked
together to return the company to financial health and reposition
Computervision for long-term growth and profitability. In our first
reengineering project, Kathy improved the quality and efficiency of the
Services organization. Following that, her implementation of the
business reengineering program company-wide allowed Computervision to
fundamentally change its business model and to focus on a growth
strategy."
Planitzer continued, "Change, as profound as Computervision required,
demanded strong leadership. With my commitment to the Board to
reorient, resize and bring a winning strategy to the company now
fulfilled, it is appropriate that we, as a company, move forward with
the leadership in place that can best match our strengths with our
customer market potential. Kathy's succession to the Chief Executive
Officer position puts this leadership firmly in place."
Cote stated, "I am very excited about Computervision's future given its
industry-leading customers, its market potential and its leadership in
technology. Our customers recognize the value of our technology,
products and services. Our Electronic Product Definition, EPD,
strategy drives our business and differentiates Computervision. EPD
allows every part of an organization -- design, development,
manufacturing, and support -- to work in an optimized collaborative
environment.
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"My charge at Computervision will be to lead our company in directly
implementing our business strategy, from marketing to technology to the
building of major customer accounts. I will continue to concentrate my
efforts and the company's resources to focus on our growth.
"I welcome the opportunity to continue to work alongside Russell
Planitzer, the Board of Directors, the senior management team and our
employees, as all of us grow Computervision as the partner of choice
for our customers and, in so doing, create enhanced long-term value for
our shareholders," Cote said.
Cote assumed the position of President and Chief Operating Officer in
November 1995. In this position Cote has overseen Computervision's
marketing, services, technology, sales and administration functions as
well as heading up the company's Operating Committee. In February
1994, her role expanded to include marketing and corporate
communications. Prior to that, she had been appointed in August 1989
as Vice President of Worldwide Services, in charge of Computervision's
Services Business Unit. Cote joined Computervision in 1986 as Vice
President of Manufacturing, and in November 1987 she was made a
Corporate Officer.
Prior to Computervision, Cote was at Wang Laboratories for seven years
and held a number of senior management positions. She has a Bachelor
of Arts degree from the University of Massachusetts and an MBA degree
from Babson College.
Cote is a member of the Board of Directors at Walden University and the
Massachusetts High Technology Council. She has served as Vice Chairman
of the Massachusetts Council for Advance Technology Transfer and
Manufacturing. Other past positions include the Board of Directors of
the Women's Initiative for Technology Leadership, the Board of
Directors of Babson College, the Boston Chapter of the National Urban
League, the Massachusetts Private Industry Council and the Council for
Women in High Technology, co-sponsored by the Department of Labor and
the University of Massachusetts.
Computervision Background
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Computervision Corporation is a leading international supplier of
desktop and enterprise-wide product development software and services.
For more than 25 years, the company's product and process data
management (PDM) and design automation (CAE/CAD/CAM) software solutions
have helped manufacturers improve product quality and reduce time to
market. Computervision Services provides best-practices consulting
programs to support product development process reengineering and
technology implementation. Computervision Services also supports
applications, systems and networks in heterogeneous computing
environments. Computervision is headquartered in Bedford,
Massachusetts, and provides sales and support services to its customers
through its offices worldwide.
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For Further Information:
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Tony Sapienza Paula Slotkin
Miller/Shandwick Technologies Computervision Corporation
(617) 536-0470 (617) 275-1800, ext. 1838
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