UNITED STATES
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
October 18, 1999
Date of Report (Date of earliest event reported)
InaCom Corp.
(Exact name of registrant as specified in its charter)
Delaware 0-16114 47-0681813
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
10810 Farnam Drive, Suite 200, Omaha Nebraska 68154
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
(402) 758-3900
<PAGE>
Item 5. OTHER EVENTS.
On October 18, 1999, InaCom Corp. issued a press release announcing the
appointment of Gerald A. Gagliardi as President and Chief Executive Officer of
InaCom. A copy of the press release is attached as an exhibit to this report.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit 99.1 Press Release
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.
INACOM CORP.
October 18, 1999 /s/ David C. Guenther
----------------------------
David C. Guenthner
Executive Vice President
and Chief Financial Officer
INDEX TO EXHIBITS
Exhibit Description
99.1 Press Release
<PAGE>
Exhibit 99.1
FOR IMMEDIATE RELEASE
InaCom Appoints Gerald A. Gagliardi President and CEO
OMAHA, Neb.-- Oct. 18, 1999 -- Bill L. Fairfield, Chairman of the Board of
InaCom Corp. (NYSE: ICO), today announced the appointment of G.A. Gagliardi as
President and Chief Executive Officer of Inacom, a $6.9 billion global
technology services leader.
"The appointment of Gerry Gagliardi as President and CEO is part of a
business transformation we started in late 1998," Fairfield said. "The first
move was to take the lead in industry consolidation through the acquisition of
Vanstar. This gave us a total of some 7,500 technical professionals, including
660 Microsoft certified engineers, to bolster the services side of our business.
The Vanstar acquisition also gave us the critical mass necessary to invest in
the transformation of our business and to move aggressively in eBusiness. We are
well-positioned to grow both the distribution and services businesses while
leveraging the relationship between the two."
"A critically important next move in my view was the selection of an
outstanding individual, with a strong services background, to drive the
transformation," Fairfield added. "Gerry's industry-leading experience and
capabilities will be a tremendous asset to us. He will provide the leadership to
turbocharge an already strong engine."
Gagliardi comes to Inacom from Unisys Corporation where he was President,
Global Customer Services and Corporate Executive Vice President.
"It's a great opportunity," Gagliardi said. "I'm excited about the
prospects for Inacom. Making the decision to leave Unisys, after 28 years, was
extremely difficult. Bill, and others associated with Inacom, spent countless
hours sharing their vision. In the end, I realized I needed the freedom this
opportunity offers to build the type of independent services business the
customers are demanding.
"There are challenges, but I look forward to operating in an open
marketplace that is unencumbered by proprietary technology and service
offerings," Gagliardi added. "It's a great time to be coming on board, and I'm
really looking forward to it."
"Now that we've named Gerry, we're ready to continue with our
transformation to bring even better solutions to our clients," Fairfield
continued. "With a base of more than $850 million in services revenues and our
elite corps of technical professionals and certified engineers, we have a great
foundation for becoming the preeminent technology solutions company. Gerry
Gagliardi can quickly take us where we want and expect to be six, twelve and
eighteen months from now. I'm not only totally comfortable giving him the reins,
I'm excited about his leadership."
Gagliardi's earlier positions with Unisys included President, Global
Customer Services and Corporate Senior Vice President, and Vice President,
Customer Services Worldwide. He had been an officer of the corporation since
1994. His early career began with Unisys in 1971 and included technical services
management as well as sales and marketing management. (Unisys was created with
the merger of Burroughs and Sperry in 1986.) Post-merger, Gagliardi's career
included a number of increasingly responsible executive management positions in
both services and services marketing.
Gagliardi holds a BA in economics and an MBA from Syracuse University. He
has also received several of the most prestigious Unisys corporate awards in
margin improvement, exceeding financial targets and innovation. He is the
recipient of the highest award offered by Unisys, the Chairman's Pinnacle of
Excellence award for major long-term corporate contribution.
"It's easy to see the executive qualities in Gerry that several business
leaders have described to us," Fairfield added. "His dedication to maximizing
resources and profitability, his willingness to innovate, his insistence on
performance are impressive. What has also been important in making this choice
for Inacom is Gerry's belief in the core values that are so essential to our way
of doing business at Inacom. We expect our employees -- our leaders -- to be
customer centered and family centered, to act with integrity, and to have a good
time doing their best. He's the person we need."
With this appointment, Fairfield vacates the President and CEO position. He
remains as Chairman of the Board and will continue to drive corporate
transformation activities, working closely with Gagliardi.
"I'm a significant shareholder," Fairfield added. "I'm committed to
continuing to work so that the shareholders receive full value from the
foundation we've laid. This is a strong move and I'm really looking forward to
working with Gerry."
"Working with Bill and the Board, we're going to do some exciting things,"
Gagliardi added. "There is a lot of innovative energy within Inacom. Bill has
developed a wonderful business. I'm grateful for the opportunity, and I'm really
looking forward to working with one of the best teams in the business."
Fairfield founded Inacom in 1982 and has been President and CEO for 17
years. Through successful growth strategies, key mergers and acquisitions, and
notably strong business alliances with enterprise partners, the Corporation grew
to gain a position amongst the Fortune 500. The Company became publicly held in
1987 on the Nasdaq Stock Exchange and in 1997 moved its listing to the New York
Stock Exchange (NYSE: ICO). Fairfield began his career with Eastman Kodak and
was President and General Manager of the Irrigation Division of Valmont
Industries, the founding parent of Inacom. Fairfield holds a BA in industrial
engineering from Bradley University and an MBA from Harvard University. He is
the recipient of the 1999 technology Entrepreneur of the Year regional award,
and the Greater Omaha Chamber of Commerce "Headliner" award, 1998.
About InaCom
InaCom Corp. (NYSE: ICO) is a $6.9 billion global Fortune 500 technology
services leader.
The company designs, implements and manages technology solutions that
optimize clients' return on IT investments. Inacom's client portfolio includes
more than 35% of Fortune 500 corporations.
Inacom's solutions utilize desktop, client/server and network technologies.
The company leverages more than 17 years' experience with distributed technology
as well as its proven methodologies, size and independent perspective to benefit
clients.
