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): July 8, 1999
THE STRIDE RITE CORPORATION
(Exact name of Registrant as specified in charter)
Massachusetts 1-4404 04-1399290
(State or other (Commission (IRS employer
jurisdiction file number) identification no.)
of incorporation)
191 Spring Street, Lexington, Massachusetts 02421- 8049
(Address of principal executive offices) (Zip Code)
(617) 824-6000
(Registrant's telephone number, including area code)
There are 3 pages in this Report.
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Item 5. Other Events
On June 8, 1999, The Stride Rite Corporation (the "Company")
issued the following press release:
The Stride Rite Corporation (NYSE:SRR - news) today announced the
resignation of James A. Eskridge as Chairman and Chief Executive
Officer of the Company.
Stride Rite also announced that its Board of Directors has named
Myles J. Slosberg as interim Chairman and CEO, pending the
successful search and selection of a new Chairman and CEO. Mr.
Slosberg has extensive experience in the footwear industry with
The Stride Rite Corporation, having served in various senior
executive positions including President of the Keds Division and
as the longest serving member of the Stride Rite Board of
Directors. Mr. Slosberg noted, "I am very optimistic about the
future of Stride Rite based on the current strength or our
portfolio of consumer brands and the experience and expertise of
the Company's management team. Our strategy continues to be the
same, emphasizing the growth of our existing brands and adding
brands to our portfolio. We will continue to pursue aggressive
change to ensure our competitive position in the marketplace."
Mr. Eskridge stated, "While I disagree with the Board about the
direction of change in the Company, as a shareholder, I wish
Stride Rite only the best in the future."
Stride Rite also announced that the Board has elected Diane M.
Sullivan as President and Chief Operating Officer of the Company
and a member of the Board of Directors. Ms. Sullivan will be
responsible for overseeing all four of the Company's existing
footwear brands, Keds, Tommy Hilfiger, Stride Rite and Sperry
Top-Sider. Ms. Sullivan previously served as a Group President of
the Company.
In addition to her duties as a Director, Joanna M. Jacobson has
returned to the company on an interim basis as Vice Chairman to
support management in implementing strategic decisions and
business process improvements and to assist Ms. Sullivan as needed
at Keds.
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities and Exchange Act of 1934. The words
"expect", "estimate", and other similar expressions which do not
relate solely to historical matters identify forward-looking
statements. Undue reliance should not be placed on forward-looking
statements because they involve known and unknown risks and
uncertainties which may cause actual results to differ materially
from anticipated, projected or implied future results. Factors
that may cause such a difference include, among others: revenues
from new product lines may fall below expectations; the launch of
new product lines may be delayed; and additional factors discussed
in the Company's reports filed with the Securities and Exchange
Commission and the exhibits thereto. The Company disclaims any
responsibility to update these statements.
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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 thereunto duly authorized.
Date: July 9, 1999 THE STRIDE RITE CORPORATION
/s/ John M. Kelliher
John M. Kelliher
Chief Financial Officer
