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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) DECEMBER 18, 1995
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R.P. SCHERER CORPORATION
(Exact name of Registrant as specified in its charter)
DELAWARE 13-3523163
(State of Incorporation) (I.R.S. Employer Identification Number)
2075 WEST BIG BEAVER ROAD, TROY, MICHIGAN 48084
(Address of principal executive offices) (Zip code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (810) 649-0900
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ITEM 5. OTHER EVENTS
(a) In a press release dated December 18, 1995 (filed herewith as Exhibit 99),
the Company announced that John P. Cashman has informed the Company of his
intention to step down from the position of Chairman and Co-Chief Executive
Officer effective March 31, 1996, the end of the Company's current fiscal
year. Mr. Cashman will continue to serve on R.P. Scherer Corporation's
Board of Directors until re-election of the directors by the shareholders
at the annual meeting in September, 1996. Mr. Cashman is expected to
continue in a consulting role with respect to certain business matters that
may arise after March 31, 1996.
(b) Exhibits to this Form 8-K
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<CAPTION>
EXHIBIT NUMBER DESCRIPTION
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<S> <C>
99 Press Release of R.P. Scherer Corporation, dated December 18, 1995,
announcing management change
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.
R.P. SCHERER CORPORATION
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(Registrant)
Date: December 18, 1995 By: /s/ Thomas J. Stuart
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Thomas J. Stuart, Vice President
& Controller
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<TABLE>
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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<S> <C>
99 Press Release of R.P. Scherer Corporation, dated December 18, 1995,
announcing management change
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EXHIBIT 99
[R.P. Scherer Corporation News Release Letterhead]
For Immediate Release
R. P. SCHERER ANNOUNCES MANAGEMENT CHANGE
TROY, MI, December 18, 1995 ..... R.P. Scherer Corporation announced today that
John (Jack) P. Cashman has informed the Company of his intention to step down
from the position of Chairman and Co-Chief Executive Officer effective March
31, 1996, at the end of the Company's current fiscal year. Mr. Cashman will
continue on R.P. Scherer Corporation's Board of Directors until re-election of
the directors by the shareholders at the annual meeting in September, 1996.
Mr. Cashman is expected to continue in a consulting role with respect to
certain business matters that may arise after March 31, 1996.
Mr. Cashman, who recently turned 55, stated, "Alex Erdeljan and I led the
buy-out of R.P. Scherer in 1989 and the subsequent successful public offering
in 1991. I've been a part of Scherer's very successful growth over the past
six years and have the utmost confidence in the Company's management to
continue that success into the next decade. In addition to consulting with
Scherer, I will be pursuing another buy-out or similar transaction."
Alex Erdeljan noted, "Jack and I have been partners for nine years, and we have
operated in the role of Co-Chief Executive Officers of R.P. Scherer
Corporation since 1989. We will certainly miss Jack, but understand his desire
to pursue other opportunities, and wish him all the best in his future
endeavors."
R.P. Scherer Corporation, an international developer and manufacturer of drug
delivery systems, is the world's largest producer of soft gelatin capsules
("softgels"). The Company is currently developing and commercializing advanced
drug delivery systems, including R.P. SCHERERSOL(TM), ZYDIS(R), PULSINCAP(R)
and OPTIDYNE technologies. The Company's proprietary drug delivery systems
improve the efficacy of drugs by regulating the dosage so as to ease
administration, increase absorption, enhance bioavailability and control the
time and place of release. The Company operates a global network of 20
facilities in 12 countries.
