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
JUNE 30, 1998
Date of report (Date of earliest event reported)
SUCCESSORIES, INC.
(Exact Name of Registrant as Specified in its Charter)
ILLINOIS 0-22834 36-3760230
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
2520 DIEHL ROAD
AURORA, ILLINOIS 60504
(Address of Principal Executive Office) (Zip Code)
630/820-7200
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
ITEM 5. OTHER EVENTS
On June 29, 1998, Registrant announced that James M. Beltrame, has been
removed as President and Chief Executive Officer of the Registrant.
See attached press release issued by Successories, Inc., on June 29,
1998 (the "Press Release"). The information set forth in the Press Release is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
Exhibit No. Exhibits Description
- ----------- -------- -----------
99.1 (c) Press Release dated June 29, 1998
2
<PAGE>
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.
Dated as of June 30, 1998
SUCCESSORIES, INC.
(Registrant)
By: /s/ Timothy C. Dillion
-----------------------------------------
Timothy C. Dillon
Senior Vice President and
General Counsel
3
<PAGE>
INDEX TO EXHIBITS
Exhibit No. Description
- ----------- -----------
99.1 Press Release dated June 29, 1998
4
EXHIBIT 99.1
FOR IMMEDIATE RELEASE CONTACT: Mac Anderson
Successories
630/820-7200
Ron Bottrell or Doug Dome
DNW Communications
312/467-0760
SUCCESSORIES ANNOUNCES MANAGEMENT CHANGES
AURORA, IL, JUNE 29, 1998 - Successories, Inc. (NASDAQ:SCES) today announced
that James M. Beltrame has been replaced as President and Chief Executive
Officer, effective immediately.
A special committee of the Board of Directors, comprised entirely of
outside directors, will conduct a search for a new President. In the interim,
Chairman and Founder Mac Anderson will assume the President position.
"Jim Beltrame did an excellent job in his turnaround role," Anderson said.
"However, we have come to realize that the financial skills needed to turn the
Company around are different from those needed to grow it. Our infrastructure
and balance sheet are solid, and now we need a results oriented President with a
strong marketing background and a growth track record to take us to the next
level."
Mr. Beltrame, 54, joined Successories in March 1995 as Chief Financial
Officer. He was named President in June 1995 and was elected Chief Executive
Officer in May 1997.
Successories, Inc. designs, manufactures, and markets proprietary and
licensed products for business, personal motivation, and for golf enthusiasts
through multiple distribution channels, including direct mail catalogs specialty
retail stores, mass merchandisers, and seasonal kiosks. The company markets
products under the Successories (R), Winners (R) Collection, the Golf Company
from Golf Digest (TM) and British Links (R) brands. The company's website is
www.successories.com.
