SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of
the Securities and Exchange Act of 1934
Date of Event: July 28, 1997
Date of Report: July 29, 1997
PLM INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
1-9670 94-3041257
(Commission File Number) (I.R.S. Employer Identification No.)
One Market
Steuart Street Tower, Suite 800
San Francisco, CA 94105-1301
(Address of principal executive offices) (Zip Code)
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ITEM 5. Other Events
PLM International, Inc. (the "Company") has announced the retirement of two
members of its board of directors, J. Alec Merriam and Robert L. Pagel. A copy
of the press release announcing these resignations is attached as an exhibit to
this form.
Attachments:
Exhibit 1: Press release, dated July 28, 1997
<PAGE>
EXHIBIT 1
Contact: Janet M. Turner
Vice President, Investor Relations
(415) 905-7214
PLM INTERNATIONAL ANNOUNCES RETIREMENT OF TWO DIRECTORS
FOR IMMEDIATE RELEASE
San Francisco, California, July 28, 1997 -- PLM International, Inc. (ASE:PLM)
today announced that the Company has regretfully accepted the resignation of two
of its directors, J. Alec Merriam, Chairman of the Board and Robert L. Pagel,
Chairman of the Executive Committee, effective today. Having served on PLM
International's board since the Company's inception in February 1988, both
individuals decided to retire from the board for personal reasons, citing their
desire for more time to devote to personal interests. With the implementation of
the Company's strategic growth plan well underway, the increase in the Company's
stock price, and the recent completion of the 1997 annual meeting, both board
members felt this was an appropriate time to tender their resignations. The
Company stated that it intends to appoint successors to both positions.
PLM International President and Chief Executive Officer Robert N. Tidball said,
"Messrs. Merriam and Pagel have been integral members of the board of directors
for the past nearly ten years. They have served PLM International and its
shareholders in an outstanding manner over a very key period in the Company's
history and will be missed. Both were instrumental in assisting in the
development of our new strategic direction. They have our deepest appreciation
for helping to put PLM International on a path which has resulted in eleven
consecutive quarters of positive results since the Company's financial
restructuring in 1994 and a material increase in our stock price. All of us at
PLM International give Messrs. Merriam and Pagel our best wishes in their future
endeavors."
- more-
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Mr. Merriam and Mr. Pagel both joined the Company's board of directors after
distinguished careers. Prior to joining PLM International's board, Mr. Merriam
served as executive vice president and chief financial officer of Crowley
Maritime Corporation, a San Francisco area-based maritime shipping and
transportation services company, from 1972 to 1988. Prior to that, he was
chairman of the board and treasurer of LOA Corporation of Omaha, Nebraska, and
served in various financial capacities with Northern Natural Gas Company of
Omaha. Prior to joining PLM International's board, Mr. Pagel served,
successively, as president and chief executive officer of The Diana Corporation,
FanFair Corporation, and Super Sky International, Inc. He was previously
chairman and chief executive officer of Blunt, Ellis and Loewi, Inc. and retired
from that company after a 20-year career in 1985.
PLM International is a diversified equipment leasing company providing services
to transportation, industrial, and commercial companies. With a combined owned
and managed portfolio of approximately $1.3 billion in equipment, PLM
International operates one of the twenty-five largest asset leasing pools in the
United States today. The Company specializes in creating equipment leasing
solutions for domestic and international customers.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed in its behalf by the
undersigned hereunto duly authorized.
PLM INTERNATIONAL, INC.
(Registrant)
DATED: July 29, 1997 By: /s/ Stephen Peary
-------------------------
Stephen Peary
Senior Vice President and
General Counsel
