SECURITIES AND EXCHANGE COMMISSION PRIVATE
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): April 17, 1998
COCA-COLA ENTERPRISES INC.
(Exact name of registrant as specified in its charter)
Delaware 1-9300 58-0503352
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
2500 Windy Ridge Parkway, Atlanta, Georgia 30339
(Address of principal executive offices, including zip code)
(770) 989-3000
(Registrant's telephone number, including area code)
Page 1 of 6 pages
Exhibit Index page 4
PAGE
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Item 5. Other Events
On April 17, 1998, Coca-Cola Enterprises Inc. (the "Company")
issued a press release announcing the Company's Board of Directors
elected Henry A. Schimberg to succeed Summerfield K. Johnston, Jr.
as chief executive officer of Coca-Cola Enterprises effectively
immediately.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
99 Press Release of Coca-Cola Enterprises Inc.
issued April 17, 1998.
<PAGE>
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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.
COCA-COLA ENTERPRISES INC.
(Registrant)
S/ LOWRY F. KLINE
Date: April 22, 1998 By:________________________________
Lowry F. Kline
Executive Vice President and
General Counsel
PAGE
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COCA-COLA ENTERPRISES INC.
EXHIBIT INDEX
Exhibit No. Page
99 Press Release of Coca-Cola Enterprises Inc. 5
issued April 17, 1998.
<PAGE>
EXHIBIT 99
COCA-COLA ENTERPRISES INC. NEWS RELEASE
- ----------------------------------------------------------------------------
CONTACT: Laura Asman - Media Relations
(770) 989-3023
Margaret Carton - Institutional-Investor Relations
(770) 989-3622
Helene Krupp - Share-Owner Relations
(770) 989-3796
FOR IMMEDIATE RELEASE
- ---------------------
COCA-COLA ENTERPRISES INC.
ANNOUNCES SENIOR MANAGEMENT CHANGES
-----------------------------------
ATLANTA, April 17, 1998 -- Coca-Cola Enterprises today announced
that the Company's Board of Directors has elected Henry A. Schimberg
to succeed Summerfield K. Johnston, Jr. as chief executive officer of
Coca-Cola Enterprises effective immediately. The Board approved a
premium-priced stock option grant for Mr. Schimberg to induce him to
remain as chief executive officer for a two-year period and thereafter
to provide consulting services to the Coca-Cola system for an
additional three years. The option grant vests incrementally over the
five-year period with unvested grants forfeited should Mr. Schimberg
leave the Company or terminate the consulting agreement.
The Company also announced that Mr. Schimberg would remain
president of Coca-Cola Enterprises, but relinquish his role as chief
operating officer. Mr. Johnston's direct reports will now report to
Mr. Schimberg. The position of chief operating officer will not be
filled at this time.
"Having Henry agree to remain for another two years as president
and chief executive officer, even though he just reached his 65th
birthday, and to continue to provide valuable consulting services
thereafter ensures that our business and operations will continue to
measure up to the challenges we face," stated Mr. Johnston.
"As Henry and I indicated in the Company's 1997 Annual Report,
we are both focused on developing a strong management team and
succession plan that ensures the Company's success well into the next
century. With this change in leadership roles, Henry and I are
continuing to push authority and responsibility to our group
presidents and their staffs, to our divisions, and to our other senior
corporate officers," continued Mr. Johnston. "I have complete
confidence that Henry will handle the role of chief executive officer
with the same energetic commitment that he has extended to this
business since our partnership began 16 years ago."
"I look forward to the challenge of serving as chief executive
officer of Coca-Cola Enterprises and reaffirm my commitment to the
Company's primary objective of increasing share-owner value,"
commented Mr. Schimberg. "I am happy that with Summerfield's ongoing
role and involvement in the management of the Company, we can maintain
our partnership and, with the hard work of all of our employees,
continue the exciting expansion and strong performance that Coca-Cola
Enterprises has experienced over the last six years."
Mr. Johnston will maintain his current position as chairman of
the Board and will continue to be actively involved in the management
of the Company in the role of executive chairman. The Board of
Directors has requested that he devote his primary attention to
strategic planning, maintaining and enhancing the Company's strategic
alignment with The Coca-Cola Company, and the identification of
acquisition opportunities, in light of the continuing consolidation of
the beverage bottling industry. Mr. Johnston has also agreed to
continue to work closely with Mr. Schimberg to develop a smooth
management transition and long-term succession plan for the Company.
Coca-Cola Enterprises Inc. (NYSE: CCE) is the world's largest
marketer, distributor, and producer of bottled and canned liquid
nonalcoholic refreshment. Coca-Cola Enterprises sells more than 65
percent of The Coca-Cola Company's bottle and can volume in North
America and is the sole licensed bottler for products of The Coca-Cola
Company in Belgium, Great Britain, Luxembourg, the Netherlands, and
most of France. The Company also has a pending transaction to acquire
CCBG Corporation and Texas Bottling Group, Inc. (collectively known as
Coke Southwest).
