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: November 17, 1999
Date of Earliest Event Reported: November 16, 1999
TANDYCRAFTS, INC.
A DELAWARE CORPORATION
1-7258 75-1475224
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(Commission File Number) (IRS Employer Identification No.)
1400 Everman Parkway
Fort Worth, Texas 76140
(817) 551-9600
ITEM 5. OTHER EVENTS
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(a) On November 16, 1999, Registrant issued a press release
announcing that R. Earl Cox III has retired from his post as
Chairman of the Board but will continue to serve on Tandycrafts
Board of Directors.
Tandycrafts reported that the Board of Directors elevated James
D. Allen to President and Chief Operating Officer.
Tandycrafts also announced that Phillip Greene has been named
Vice President of Information Systems and Technology.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits.
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Exhibit
Number Description
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99 Registrant issued a press release announcing that R.
Earl Cox III has retired from his post as Chairman of
the Board but will continue to serve on Tandycrafts
Board of Directors.
Tandycrafts reported that the Board of Directors
elevated James D. Allen to President and Chief
Operating Officer.
Tandycrafts also announced that Phillip Greene has been
named Vice President of Information Systems and
Technology.
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 of the
undersigned thereunto duly authorized.
TANDYCRAFTS, INC.
Date: November 17, 1999 By:/s/ Michael J. Walsh
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Michael J. Walsh, President
and Chief Executive Officer
Date: November 17, 1999 By:/s/ James D. Allen
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James D. Allen, Executive Vice
President and Chief Financial
Officer
CONTACT: Mike Walsh, Chairman and CEO
Tandycrafts, Inc. (817) 551-9600
FOR IMMEDIATE RELEASE or
Jeff Lambert ([email protected])
Lambert, Edwards & Associates, Inc. (616)233-0500
TANDYCRAFTS ANNOUNCES BOARD, MANAGEMENT CHANGES
FORT WORTH, Texas - November 16, 1999 - Tandycrafts, Inc. (NYSE:TAC) today
announced that R. Earl Cox III, 66, has retired from his post as Chairman of the
Board. Cox, who served as Chairman since 1992, will continue to serve on the
five-person board. In his place, Tandycrafts named Michael J. Walsh as interim
Chairman of the Board. Walsh, who joined the board of directors in 1992,
retains his position as Chief Executive Officer.
"We are extremely grateful for the contributions made by Earl Cox, and we expect
him to continue to play an important role on the board as we set Tandycrafts'
strategic direction moving forward," said Michael J. Walsh.
Tandycrafts also reported that the board of directors elevated James D. Allen to
President and Chief Operating Officer of the consumer products maker and
marketer. Allen, 39, was previously Executive Vice President and Chief
Operating Officer of Tandycrafts. He has been with the Company since 1993,
serving in a variety of finance and operations positions, including Chief
Financial Officer.
"Jim brings exceptional leadership skills to the Tandycrafts executive
management team," said Walsh. "He has been instrumental in the transition of
Tandycrafts toward our more profitable consumer products businesses, and his
appointment as President ensures this momentum will continue."
Tandycrafts also announced that Phillip Greene has been named Vice President of
Information Systems and Technology. Greene, 30, will oversee all of
Tandycrafts' technology, information systems and Internet initiatives. Greene
has over four years experience with the Company, most recently as director of
information systems. He previously was vice president and director of
information systems at a large retail chain and a member of the technology staff
at Price Waterhouse, LLP.
Walsh concluded, "The appointment of Phillip Greene is another move in our
effort to strengthen our management team depth and put the right people in key
leadership positions to take Tandycrafts to the next level."
Tandycrafts, Inc (www.tandycrafts.com) is a leading maker and marketer of
consumer products, including frames and wall decor, office supplies, home
furnishings and gift products. The Company's products are sold nationwide
through wholesale distribution channels, including mass merchandisers and
specialty retailers, and direct-to-consumer channels through the Company's
retail stores, mail order and the Internet.
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