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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): November 7, 1997
KEMET Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-20289 57-0923789
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
2835 KEMET Way, Simpsonville, SC 29681
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (864) 963-6300
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Item 6. Resignations of Registrant's Directors.
On November 3, 1997, Terry R. Weaver resigned as President and Chief Operating
Officer of the Company and as a member of the board of directors. David E.
Maguire, currently Chairman of the Board and Chief Executive Officer, will
resume the duties and title of President in addition to his present
responsibilities. The board of directors will not seek a replacement for the
board seat vacated by Mr. Weaver and will now be comprised of five members.
Item 7. Financial Statements and Exhibits
(a) Not Applicable
(b) Not Applicable
(c) Exhibits
99.1 Press Release, dated November 3, 1997, issued by the Company.
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SIGNATURE
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.
KEMET Corporation
Dated: November 6, 1997 By:/S/ D. Ray Cash
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D. Ray Cash
Senior Vice President of Administration,
Treasurer and Assistant Secretary
(Principal Accounting Officer and
Financial Officer)
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EXHIBIT 99.1
For Immediate Release
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KEMET ANNOUNCES NEW CORPORATE MANAGEMENT STRUCTURE
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Management Reorganized Along Tantalum and Ceramic Business Units
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GREENVILLE, SOUTH CAROLINA (November 3, 1997) - KEMET Corporation today
announced a new corporate structure that will refocus management along the
Company's Tantalum and Ceramic business units. As part of the management
restructuring, the Company announced the promotion of Harris L. Crowley to
Senior Vice President/General Manager for the Ceramic Business Unit, and the
promotion of Charles M. Culbertson II to Senior Vice President/General Manager
for the Tantalum Business Unit.
The Company also announced the resignation of Terry R. Weaver, President and
Chief Operating Officer. Mr. Weaver resigned to pursue other business and
professional opportunities. David E. Maguire, currently Chairman of the Board
and Chief Executive Officer, will resume the duties and title of President in
addition to his present responsibilities. Mr. Crowley, a 22-year employee of
KEMET, and Mr. Culbertson, a 17-year employee of the Company, will report to Mr.
Maguire.
By reorganizing the lines of its two business units, KEMET believes that this
new structure will allow for more growth opportunities for the Company, better
communication with customers, and faster response to customer needs.
KEMET Corporation, headquartered in Greenville, South Carolina, is the largest
manufacturer of solid tantalum capacitors in the world and the second largest
manufacturer of multilayer ceramic capacitors in the United States. KEMET's
common stock is listed on The Nasdaq Stock Market's National Market under the
symbol KMET. Company information is available via the Internet
(http://www.kemet.com).
Contact: Mr. Glenn H. Spears
Senior Vice President and Secretary
(864)963-6674
