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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 02549
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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): September 24, 1998
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PROJECT SOFTWARE & DEVELOPMENT, INC.
(Exact name of registrant as specified in its charter)
Massachusetts 0-23852 04-2448516
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(State or other jurisdiction) (Commission (IRS Employer
of incorporation) File Number) Identification No.)
100 Crosby Drive, Bedford, Massachusetts 01730
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (781) 280-2000
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ITEM 5. OTHER EVENTS.
On September 18, 1998, Stephen B. Sayre was elected to the Board of
Directors of Project Software & Development, Inc. ("PSDI") as a Class II
Director. PSDI issued a press release announcing this event on September 24,
1998. A copy of the press release is filed as Exhibit 99 to this report and is
incorporated herein by reference.
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ITEM 7. EXHIBITS.
Number Title
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99 Press Release of Project Software & Development, Inc. dated
September 24, 1998
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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, thereunto duly authorized.
PROJECT SOFTWARE & DEVELOPMENT, INC.
Dated: October 21 , 1998 By: /s/ Paul D. Birch
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Paul D. Birch
Executive Vice-President, Finance and
Administration and
Chief Financial Officer
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EXHIBIT INDEX
Pursuant to Item 601 of Regulation S-K
Number Title
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99 Press Release of Project Software & Development, Inc. dated
September 24, 1998
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Exhibit 99
PSDI
Contact:
Don Jennings Rob Bloom
Lois Paul & Partners PSDI
781/238-5756 781/280-6527
[email protected] [email protected]
PSDI NAMES STEPHEN B. SAYRE TO BOARD OF DIRECTORS
BEDFORD, MASS., September 24, 1998 - PSDI (NASDAQ: PSDI), a leading provider of
enterprise asset maintenance systems, today announced that Stephen B. Sayre
joined its Board of Directors on September 18. Sayre is currently the senior
vice president of marketing at Lotus Development Corporation, a 1.5 billion
dollar subsidiary of IBM Corporation, where he is responsible for all facets of
corporate worldwide marketing.
"Steve is a strong leader with a proven track record of success in the software
market," said Chip Drapeau, CEO and president of PSDI. "On behalf of the entire
Board of Directors, we look forward to leveraging Steve's experience and insight
as we expand the MAXIMO footprint into electronic commerce, mid-tier markets and
numerous vertical segments."
Sayre began his career at General Electric Information Services in Gaithersburg,
Maryland, where he worked on the acquisition of a new software business for
General Electric. Since leaving General Electric, Sayre has been the senior
marketing executive at Cullinet Software, where he ran Latin American operations
and vice president at Easel Corp., which he helped lead to a successful IPO.
Sayre was also president of Boston Treasury Systems, a client-server financial
applications provider before joining Lotus in 1994.
Sayre added, "PSDI's current and past success is a testament to its strong
market position. I am looking forward to helping PSDI realize its goals and
objectives going forward."
- more -
PSDI/100 Crosby Drive, Bedford, Massachusetts, 01730/ (781)280-2000,
http://www.psdi.com
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ABOUT PSDI
PSDI develops, markets and supports enterprise asset maintenance software.
Businesses, government agencies, and other organizations use MAXIMO to assist
them in maintaining highvalue capital assets such as plants, facilities and
production equipment. The Company's products are designed to enable customers to
reduce downtime, control maintenance expenses, cut spare parts inventories and
costs, improve purchasing efficiency, and more effectively deploy productive
assets, personnel and other resources.
Based in Bedford, Mass, PSDI markets its products through a direct sales force
with sales offices throughout the United States, United Kingdom, Argentina,
Australia, Belgium, Canada, France, Germany, Hong Kong, India, Mexico, The
Netherlands, Sweden, and Thailand, combined with a network of international
sales agents. All PSDI news releases are available via the PSDI Home Page at
http://www.psdi.com.
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PSDI/100 Crosby Drive, Bedford, Massachusetts, 01730/ (781)280-2000,
http://www.psdi.com
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