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) October 23, 1995
THE QUAKER OATS COMPANY
New Jersey 1-12 36-1655315
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
321 North Clark Street, Chicago, Illinois 60610
(address of principal executive offices)
Registrant's telephone number, including area code 312-222-7111
(Former name or former address, if changed since last report.)
Item 5. Other Events
PHILIP A. MARINEAU RESIGNS AS QUAKER OATS PRESIDENT AND COO
Philip A. Marineau resigned as President and Chief Operating Officer of the
Quaker Oats Company on October 23, 1995. The Chairman and Chief Executive
Officer, William D. Smithburg, has assumed the operating management of the
entire business portfolio.
LAWSUIT AGAINST BORDEN, INC.
On November 1, 1995, the Company filed suit against Borden, Inc. in Federal
District Court in New York, alleging that Borden made material
misrepresentations and committed fraud in connection with Quaker's 1994
$100 million acquisition of Adria, a Brazilian pasta business. The Company
seeks to rescind the transaction and collect damages.
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 QUAKER OATS COMPANY
By /s/ Thomas L. Gettings
Thomas L. Gettings
Vice President and
Corporate Controller
Date: November 3, 1995
EXHIBIT INDEX
Exhibit Exhibit Paper (P) or
Number Description Electronic (E)
(1) Press Release dated October 23, 1995 (E)
News Release
(LOGO OF QUAKER OATS The Quaker Oats Company
COMPANY APPEARS HERE) Further Information
Quaker Tower Ronald G. Bottrell
P.O. Box 9001 Quaker Oats
Chicago, IL 60604-9001 (312) 222-7388
MARINEAU RESIGNS AS QUAKER OATS PRESIDENT AND COO
For Immediate Release
CHICAGO, IL., October 23, 1995 -- The Quaker Oats Company (NYSE: OAT)
announced today that Philip A. Marineau has resigned as President and Chief
Operating Officer and as a member of Quaker's Board of Directors.
With Marineau's departure, Chairman and Chief Executive Officer
William D. Smithburg will assume the duties Marineau had been performing,
and those operating units which reported to Marineau will now report to
Smithburg.
"As we have restructured our business portfolio for growth over the
past year, we have also reconfigured our management structure to remove
layers, shorten lines of decision making and bring senior level focus to
bear upon major challenges," Smithburg said. "Our entire portfolio,
including the important Snapple acquisition, will receive my full
attention.
"Over the course of his career, Phil Marineau has made major
contributions to the success of Quaker. He has been a valued member of our
senior team, and I will miss him as a colleague and friend. We wish him
well in his future endeavors," Smithburg said.
Marineau, 49, joined Quaker in 1972 and was named President and Chief
Operating Officer in 1993. He has been a director since 1990.
