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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)
August 24, 1999
LITTLE SWITZERLAND, INC.
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(Exact name of registrant as specified in charter)
Delaware 0-19369 66-0476514
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(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) identification no.)
161-B Crown Bay Cruise Ship Port, St. Thomas, U.S.V.I. 00802
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (340) 776-2010
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Item 5 - Other Events
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Little Switzerland, Inc. (the "Company") issued a press release on August
24, 1999 announcing that Robert L. Baumgardner has been named to the posts of
President and Chief Executive Officer, effective August 17, 1999. Mr.
Baumgardner has also been appointed as a Class I director, increasing the board
to six members. Mr. Kenneth Watson, who had been serving as Acting President
and Chief Executive Officer since April 1999, will remain a director of the
Company. A copy of the Company's press release is attached hereto and
incorporated herein in its entirety.
Item 7 - Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits
Exhibit 99.1 - Press Release of Little Switzerland, Inc., dated August 24,
1999.
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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 thereunto duly authorized.
LITTLE SWITZERLAND, INC.
Date: August 24, 1999 By: /s/ ROBERT L. BAUMGARDNER
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Name: Robert L. Baumgardner
Title: President and Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
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Exhibit 99.1 - Press Release of Little Switzerland, Inc., dated
August 24, 1999.
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EXHIBIT 99.1
PRESS RELEASE
CONTACTS:
Kenneth W. Watson Mary Ellen Goodall
Little Switzerland, Inc. Walter Denby
340/776-2010 D.F. King & Co., Inc.
212/269-5550
FOR IMMEDIATE RELEASE
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LITTLE SWITZERLAND NAMES ROBERT L. BAUMGARDNER
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PRESIDENT AND CEO
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ST. THOMAS, U.S. VIRGIN ISLANDS, August 24, 1999 . . . Little Switzerland,
Inc. (NASDAQ:LSVI), announced that Mr. Robert L. Baumgardner, 52, was named to
the posts of President and CEO, effective August 17, 1999. Mr. Baumgardner has
also been appointed as a Class I director, increasing the board to six members.
Mr. Kenneth Watson, who had been serving as Acting President and CEO since April
1999, will remain a director of the Company.
Before joining Little Switzerland, Mr. Baumgardner was Senior Vice
President of Zale Corporation's Bailey Banks and Biddle Division in Dallas,
where he oversaw retail operations generating over $245 million in revenue.
Prior to his tenure with Zale Corporation, Mr. Baumgardner held senior
management positions with Mayors of Coral Gables, Florida, and with Tiffany of
New York. Mr. Baumgarder began his retail career in 1971 at Bailey Banks and
Biddle, where as Vice President of Stores he was responsible for marked growth
in sales and profitability throughout his territories, and was the recipient of
numerous awards for sales management and human resource development.
Prior to his retail career Mr. Baumgardner served in the United States
Army, which awarded him the Vietnamese Distinguished Cross, the Army
Commendation Medal for Valor, and the Purple Heart.
Kenneth Watson praised Mr. Baumgardner, saying, "We are delighted that Bob
has decided to bring his exceptional talents and breadth of retail experience to
Little Switzerland."
Little Switzerland, Inc. is a leading specialty retailer of brand name
watches, jewelry, crystal, china, fragrances and accessories, operating 22
stores on eight Caribbean islands, and two stores in Alaska cruise ship
destinations. The Company's primary market consists of vacationing tourists
attracted by free-port pricing, duty-free allowances and a wide variety of high
quality merchandise.
