-3-
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): January 8, 1999
THE READER'S DIGEST ASSOCIATION, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-10434 13-1726769
(State or other juris- (Commission File (I.R.S. Employer
diction of incorporation Number) Identification No.)
or organization)
Pleasantville, New York 10570-7000
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code:
(914) 238-1000
Page 1 of __ pages.
ITEM 5. Other Events.
Filed herewith as Exhibit 99.1 is a copy of the
company's news release, issued today, relating to the election of
Ed Zschau to the Company's Board of Directors.
ITEM 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(a) Financial statements of business acquired
Not applicable
(b) Pro forma financial information
Not applicable
(c) Exhibits
Number Description
99.1 Press Release of The Reader's Digest
Association, Inc. dated January 8, 1999
SIGNATURES
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 READER'S DIGEST ASSOCIATION, INC.
(Registrant)
Date: January 8, 1999
George S. Scimone
Senior Vice President and Chief
Financial Officer
EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release of The Reader's Digest
Association, Inc. dated January 8, 1999
Contact: Stephen J. Morello
Vice President, Public Relations/Corp. Communications
(914) 244-7717
Ed Zschau Elected to the Board of Directors
of The Reader's Digest Association, Inc.
PLEASANTVILLE, N.Y., January 8, 1999--The Reader's Digest
Association, Inc. today announced the election of Ed Zschau,
professor, former computer executive and former Congressman, to
its Board of Directors. Mr. Zschau, 59, who resides on Nantucket
Island, Massachusetts, was elected at the Board's meeting today.
Mr. Zschau currently serves as both Professor of Management
at Harvard University and a visiting professor in the Department
of Electrical Engineering at Princeton University. Prior to
joining the Harvard faculty in 1996, he was general manager of
IBM's Storage Systems Division from 1993 to 1995.
After earning his A.B. at Princeton and M.B.A., M.S., and
Ph.D. degrees at Stanford, Mr. Zschau began his teaching career
in 1965 first at Stanford and then at Harvard. From 1968 to 1982
he was the founder and chief executive officer of System
Industries, Inc., a Silicon Valley computer company. Mr. Zschau
left the company in 1982, after taking it public. He was elected
to the U.S. House of Representatives in 1982, representing the
Silicon Valley region until 1986, when he campaigned
unsuccessfully for the U.S. Senate as the Republican nominee.
In 1987 he became a general partner in Brentwood Associates,
a Los Angeles venture capital firm, and in 1988 he was elected
Chairman and CEO of Censtor Corporation, a company founded by
Brentwood to develop advanced magnetic recording components for
disk drives.
Thomas O. Ryder, chairman and chief executive officer of
Reader's Digest, said "We welcome Ed to our Board of Directors at
this critical time in the life of Reader's Digest. He brings
skills and experiences which are at once diverse and in every way
relevant to the strengths and challenges of our company. He is
experienced in global economic matters. He has managed through a
period of significant change and turnaround while at IBM. He has
an unparalleled grasp of the potential that technology and the
Internet pose for Reader's Digest, and he has the zeal and
imagination of a true entrepreneur."
Mr. Zschau is the second director to join the Reader's
Digest Board in recent months. Lawrence R. Ricciardi, IBM senior
vice president and general counsel, was elected to the Board in
August.
The Reader's Digest Association, Inc. is a global publisher
and direct marketer of products that inform, enrich, entertain
and inspire people of all ages and all cultures around the world.
Global headquarters is located in Pleasantville, N.Y.
