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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 16, 1996
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JUST TOYS, INC.
(Exact Name of Registrant as Specified in Charter)
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DELAWARE 0-20612 13-3677074
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer Identification Number)
Incorporation)
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50 WEST 23RD STREET
NEW YORK, NEW YORK 10010
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code 212-645-6335
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ITEM 5. OTHER EVENTS
Pursuant to Paragraph F of the General Instructions to Form 8-K, the
Company hereby incorporates by reference herein the press release issued by the
Company on December 16, 1996, which is attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(C) EXHIBITS
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Exhibit Description
99 Press release, dated December 16, 1996
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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 hereunto duly authorized.
JUST TOYS, INC.
December 20, 1996 By: /s/ Barry Shapiro
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Barry Shapiro
President
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INDEX TO EXHIBITS
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Exhibit Description
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99 Press release, dated December 16, 1996
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EXHIBIT 99
CONTACT: Barry Schwartz/212-677-8700, ext. 18
SHAPIRO TO SUCCEED LEVY AS JUST TOYS CHIEF EXECUTIVE OFFICER,
EFFECTIVE JULY 1ST
NEW YORK, NY 12/16/96:
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Morton J. Levy, chairman and chief executive officer of Just Toys, Inc.
(NASDAQ/NMS:JUST), today announced that the Just Toys board of directors has
designated Barry Shapiro, currently president and chief operating officer, to
succeed him as chief executive officer, effective July 1, 1997, and that he will
remain chairman of the board of directors.
"Since I became Just Toys' chief executive officer in March of 1995, we have
succeeded in turning the company around," stated Levy, "with both a strong
management team and a solid marketing program in place."
"Barry Shapiro has made a major contribution to that success," he continued,
"and his track record as a leader, marketer and manager will assure the
company's continuing commitment to growth."
Mr. Levy, a 3rd generation toy industry executive, started his career as
President of Levy & Fryer, a leading toy rep company, and subsequently served as
President of Gabriel Industries, Inc. and CBS Toys before retiring to pursue
other business interests in 1980. He returned to the industry in 1993 as a
member of Just Toys' Board of Directors.
Mr. Shapiro, who was named president in March 1995, joined the company the
previous year as Managing Director of its Hong Kong operations, and subsequently
relocated to New York headquarters as Executive Vice President. His 28 years in
the toy industry began as Director of Planning and International Operations at
Gabriel Industries. He then went on to become President of the Lakeside Games
Division of Leisure Dynamics, Executive Vice President/General Manager and Chief
Operating Officer of Wham-O, and Executive Vice President/General Manager of
Imagineering.
