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 (Date of earliest event reported): January 16, 1997
SITEL CORPORATION
(Exact name of registrant as specified in its charter)
Minnesota 1-12577 47-0684333
(State or jurisdiction (Commission File (I.R.S. Employer
incorporation or Number) Identification No.)
organization)
13215 Birch Street
Omaha, Nebraska 68164
(402) 498-6810
(Address, including zip code, and telephone number, including area code, of
registrant's principal executive offices)
____________________________________________
This 8-K consists of 6 pages. The Exhibit Index is on page 4.
<PAGE>
Item 5. Other Events.
On January 17, 1997, the registrant announced the promotion of Michael P. May
to the position of Chief Executive Officer and the appointment of Phillip A.
Clough to succeed Mr. May as President. Details of such announcement are
contained in the news release issued by the registrant on January 17, 1997, a
copy of which is filed as an Exhibit to this Form 8-K.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99.1 News release of SITEL Corporation dated January 17, 1997.
Item 9. Sales of Equity Securities Pursuant to Regulation S.
On January 16, 1997, in connection with the acquisition of all of the
outstanding shares in B's Telemarketing Limited ("B's), a United Kingdom
corporation, by an affiliated company of the registrant, the registrant issued
20,000 shares of its Common Stock to an owner of B's in satisfaction of
100,000 pounds sterling of the acquisition price. The issued shares were sold
outside the United States in reliance upon Regulation S.
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<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, thereunto duly authorized.
Date: January 31, 1997 SITEL Corporation
By:_____________________________________
Michael P. May, Chief Executive Officer
3
<PAGE>
SITEL CORPORATION
EXHIBIT INDEX
Page Number
In Sequential
Numbering
Exhibit System
No.
99.1 News release of SITEL Corporation dated January 17, 1997. 5
4
<PAGE>
EXHIBIT 99.1
News release of SITEL Corporation dated January 17, 1997.
5
<PAGE>
FROM: FOR:
Swenson/Falker Associates Inc. SITEL Corporation
121 South Eighth St. Suite 1111 13215 Birch Street
Minneapolis, Minn. 55402 Omaha, Neb. 68164
Contact: Doug Ewing (612) 371-0000 Contact: James F. Lynch, Chairman
(402) 498-6810
FOR IMMEDIATE RELEASE
SITEL CORPORATION ANNOUNCES KEY EXECUTIVE APPOINTMENTS
- -------------------------------------------------------
OMAHA, NEBRASKA, January 17 -- SITEL Corporation (NYSE:SWW), today announced
the appointment of Michael P. May, SITEL's President, to the position of chief
executive officer. James F. Lynch, SITEL founder, and previously chairman and
CEO, remains chairman.
Phillip A. Clough, a principal with the investment banking firm of Alex. Brown
& Sons, was named to succeed Mike May as president.
Lynch said, "Mike May has been instrumental in the key developments during the
critical period of SITEL's growth from a domestic, privately held company to
the global leader in teleservices listed on the NYSE. His work as president,
including the successful completion of our strategic merger with Mitre plc, has
helped position SITEL's 18 business units to fully capitalize on our significant
international market presence. I have great confidence that SITEL's team of
executives has the leadership necessary to continue achieving our aggressive
growth objectives, while freeing me to focus on the long-term vision and
strategies for our company on a full-time basis."
Clough has been an investment banker with Alex. Brown & Sons since 1990 and
worked closely with SITEL since 1994. He has been an integral part of the
company's most significant business acquisitions and developments over the past
two years. He is a graduate of the U.S. Military Academy at West Point and the
University of Virginia Graduate School of Business.
"Phil Clough has unquestioned leadership and management skills," Lynch said.
"His appointment as a senior executive of SITEL will add even further depth to
what we believe is an already deep and experienced management team."
Mike May, CEO, said, "Phil has worked closely as a valued advisor to the
company. He understands and has influenced our strategic planning, and has
earned the respect and trust of our senior management team around the world.
We are pleased and fortunate to have the commitment of someone of Phil's
caliber and experience to help us in the execution of our plans."
Lynch said, "SITEL is positioned as a leader in a rapidly expanding global
market and with the recently announced changes, we are prepared to expand on
that leadership role. I could not be more confident of our management or of
our future."
SITEL Corporation, based in Omaha, Neb., is the leader in providing outsourced
telephone-based customer service and sales programs on behalf of large
corporations worldwide. SITEL operates over 7,800 workstations in 56 call
centers in North America, Europe, and Japan, and employs approximately 14,000
people.
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01/17/97
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