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: May 4, 1999
Date of Earliest Event Reported: May 3, 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 May 3, 1999, Registrant issued a press release announcing the
elevation of James D. Allen to the position of executive vice
president and chief operating officer. Tandycrafts also named
Michael J. Murray as treasurer and Troy A. Huseman as controller.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits.
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Exhibit
Number Description
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99 Copy of press release announcing the
elevation of James D. Allen to the position
of executive vice president and chief
operating officer. Tandycrafts also named
Michael J. Murray as treasurer and Troy A.
Huseman as controller.
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: May 5, 1999 By:/s/ Michael J. Walsh
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Michael J. Walsh, President
and Chief Executive Officer
Date: May 5, 1999 By:/s/ James D. Allen
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James D. Allen, Executive Vice
President and Chief Financial
Officer
Date: May 5, 1999 By:/s/ Troy A. Huseman
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Troy A. Huseman
Assistant Vice President -
Controller
CONTACT: MIKE WALSH, PRESIDENT AND CEO
Tandycrafts, Inc. (817) 551-9600
FOR IMMEDIATE RELEASE or Jeff Lambert, Brian Edwards
([email protected])
Lambert, Edwards & Associates, Inc.
(616) 233-0500
TANDYCRAFTS REALIGNS, STRENGTHENS MANAGEMENT TEAM
FORT WORTH, Texas - May 3, 1999 - Tandycrafts, Inc. (NYSE:TAC) today announced
it has elevated James D. Allen to the position of executive vice president and
chief operating officer. Tandycrafts also named Michael J. Murray as treasurer
and Troy A. Huseman as controller.
The Fort Worth, Texas-based consumer products maker and marketer said the naming
of Allen, who previously served as executive vice president and chief financial
officer, reflects his expanded role in leading Tandycrafts' efforts to
reorganize and improve operations.
"Jim has proven to be a strong leader in the repositioning of Tandycrafts as a
consumer-products oriented company. He has provided expertise and direction in
all areas of the business from product development to manufacturing to sales,"
said Michael Walsh, Tandycrafts president and chief executive officer. "This new
position places operations accountability under his oversight, and the Board is
confident in his ability to continue to add value."
Allen, 39, has been with the Company since 1993 in a variety of finance and
operations positions. He joined Tandycrafts from a senior manager position at
national accounting firm Price Waterhouse, LLP.
Tandycrafts also announced the naming of Murray as treasurer and Huseman as
controller.
Murray, 32, will take over many of Allen's financial management duties for the
Company. His new role will also include serving as the shareholder and analyst
liaison for Tandycrafts, as it works to develop and expand its investor
relations efforts. Murray most recently served as director of special projects
for Tandycrafts and has been instrumental in a number of strategic initiatives
and reorganization projects at the Company. He joined Tandycrafts in 1996 from
national retailer Pier 1 Imports, Inc., where he was director of financial
accounting. Murray previously worked as manager at Price Waterhouse, LLP.
Huseman, 31, was promoted to the post of controller from the position of
director of financial reporting and planning. He joined Tandycrafts in 1996
from the accounting firm Price Waterhouse, LLP.
Tandycrafts, Inc. (www.tandycrafts.com) is a manufacturer, distributor and
retailer of consumer products, including frames and wall decor, office supplies,
leather and crafts, and novelties and promotional products. The Company's
products are marketed and 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. Tandycrafts is headquartered in Fort Worth, Texas.
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