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: March 1, 2000
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Motor Coach Industries International, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-12208 86-0706940
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
10 East Golf Road, Des Plaines, Illinois 60016
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (847) 299-9900
Not Applicable
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(Former name or former address, if changed since last report)
ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On March 1, 2000, Motor Coach Industries International, Inc. (the
"Registrant"), with the approval of the Registrant's Board of Directors,
reappointed the firm of Arthur Andersen, LLP ("Arthur Andersen") as its
independent public accountants and auditors effective immediately.
Arthur Andersen had previously been the Registrant's independent
accountants for fiscal years ended December 31, 1998 and 1997 and the
interim period ended October 8, 1999. As such, the Registrant has within the
last two years consulted Arthur Andersen regarding the application of
accounting principles to transactions included in the Registrant's financial
statements for periods ended prior to October 8, 1999, and the type of
audit opinion to be rendered on the Registrant's audited financial
statements for fiscal years ended prior to 1999.
In a Form 8-K dated October 8, 1999 (the "October 8-K"), the
Registrant disclosed the dismissal of Arthur Andersen as its independent
public accountants and auditors and the appointment of PricewaterhouseCooper
LLP ("PWC") as its new independent public accountants and auditors. In a
Form 8-K dated November 8, 1999, the Registrant disclosed the resignation
of PWC as the Registrant's independent public accountants and auditors.
The Registrant requested Arthur Andersen to review the disclosures
made in this Form 8-K and provided Arthur Andersen the opportunity to
furnish the Registrant a letter addressed to the Securities and Exchange
Commission containing any new information, clarification of the Registrant's
expression of its views, or the respects in which it does not agree with
the statements made in this Form 8-K. Arthur Andersen has advised
the Registrant that it does not have such comments to provide and therefore
does not plan to provide such a letter.
ITEM 5. OTHER EVENTS.
Election of CEO
On February 3, 2000, the Registrant announced the election of Mr.
Roberto Cordaro as its Chief Executive Officer. A copy of the press
release issued by the Registrant on February 3, 2000 with respect to the
election of Mr. Cordaro is attached hereto as Exhibit 99.1 and incorporated
herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press Release issued by the Registrant on February 3, 2000.
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.
MOTOR COACH INDUSTRIES
INTERNATIONAL, INC.
By: /s/ Horst Sieben
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Name: Horst Sieben
Title: Chief Financial Officer
Date: March 7, 2000
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release issued by Motor Coach Industries
International, Inc. February 3, 2000
FOR IMMEDIATE RELEASE EXHIBIT 99.1
ROBERTO CORDARO NAMED CHIEF EXECUTIVE OFFICER OF MCII
Des Plaines, Ill. Feb. 3, 2000 -- Motor Coach Industries International,
Inc., announced today that Roberto Cordaro has been elected chief executive
officer. Cordaro was formerly president of the Automotive Group of Cummins
Engine Company.
As CEO, Cordaro, 50, will be responsible for the company's growth in all of
MCII's business segments including the manufacturing of intercity motor
coaches for tour, charter, line haul, transit and conversion uses. MCII,
through its subsidiary Motor Coach Industries Limited, began manufacturing
coaches in 1933 in Winnipeg, Manitoba. Today, with nearly $1 billion in
sales, the company operates manufacturing plants in the U.S., Canada, and
Mexico, and employs more than 4,500 people. MCI manufactures three of the
five best-selling models on U.S. roads and estimates that more than 70
percent of the 38,000 motor coaches on the road in North America were made
by MCI.
MCII holdings include Motor Coach Industries, Inc., Motor Coach Industries
Limited, and Dina Autobuses, S.A. de C.V., all manufacturers of intercity
coaches in the U.S., Canada and Mexico; Hausman Bus Sales, Inc., the pre-
owned coach sales and service center subsidiary; BusLease, Inc., the
financing subsidiary; and Universal Coach Parts, Inc., the aftermarket
parts supplier.
The former CEO, James P. Bernacchi, will continue as an MCII shareholder,
and will support the company in executing its business plan and working on
industry issues.
At Cummins Engine, Cordaro had a 21-year career in which he held several
senior management positions. From 1996 he had been president of the
Automotive Group, responsible for the businesses serving all highway
vehicles including motor coaches and transit buses worldwide. Prior to
joining Cummins, he was with Chrysler and GM in Brazil.
Cordaro holds both bachelor's and master's degrees in engineering. He is
also a graduate of the Stanford Executive Program.
MCII is the leading designer, manufacturer and marketer of intercity
coaches and related replacement parts for the North American market.
For more information contact: Patricia Plodzeen, Public Relations, 312-595-
1540 or Athena Valis, manager of marketing communications for Motor Coach
Industries International, Inc., 847-299-9900.
