-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UK7+JKfQzpm38beSfKycXrHbFGR5yHlNhh1xmB2KHxHdNctXaCMVbPrylLUh6rtM a3JQgOAH9zgcFHJRBqRexQ== 0000022698-97-000007.txt : 19970506 0000022698-97-000007.hdr.sgml : 19970506 ACCESSION NUMBER: 0000022698-97-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970430 ITEM INFORMATION: Acquisition or disposition of assets FILED AS OF DATE: 19970505 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMSAT CORP CENTRAL INDEX KEY: 0000022698 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATION SERVICES, NEC [4899] IRS NUMBER: 520781863 STATE OF INCORPORATION: DC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04929 FILM NUMBER: 97595819 BUSINESS ADDRESS: STREET 1: 6560 ROCK SPRING DR CITY: BETHESDA STATE: MD ZIP: 20817 BUSINESS PHONE: 3012133000 MAIL ADDRESS: STREET 1: 6560 ROCK SPRING DRIVE CITY: BETHESDA STATE: MD ZIP: 20817 FORMER COMPANY: FORMER CONFORMED NAME: COMMUNICATIONS SATELLITE CORP /DE/ DATE OF NAME CHANGE: 19930719 8-K 1 FORM 8-K 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): April 30, 1997 COMSAT Corporation -------------------------------------------------- (Exact name of Registrant as specified in Charter) District of Columbia 1-4929 52-0781863 ------------------------ ------------ -------------- (State or other juris- (Commission (IRS Employer diction of incorporation) File Number) Identification Number) 6560 Rock Spring Drive, Bethesda, MD 20817 ---------------------------------------- -------- (Address of principal executive offices) Zip Code Registrant's telephone number, including area code (301) 214-3000 Not Applicable. --------------------------------------- (Former name or former address, if changed since last report). Item 5. Other Events - --------------------- Attached to this report as Exhibit 99.1, and incorporated by reference in this item, is a Press Release of the Corporation, distributed on April 30, 1997, announcing the resignation of C.J. Silas as Chairman for medical reasons and the election of Edwin I. Colodny as the new Chairman of the Corporation's Board of Directors. Item 7. Financial Statements and Exhibits - ------------------------------------------ (c) Exhibits (listed according to the number assigned in Item 601 of Regulation S-K). Exhibit No. Description - ----------- ----------- 99.1 Press Release dated April 30, 1997. 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 hereunto duly authorized. COMSAT Corporation ------------------ By: /s/ Alan Korobov ---------------- Controller Date: May 5, 1997 EXHIBIT INDEX ------------- Exhibit No. Description - ----------- ----------- 99.1 Press Release dated April 30, 1997. EX-99.1 2 PRESS RELEASE DATED APRIL 30, 1997 FROM: COMSAT Corporation 6560 Rock Spring Drive Bethesda, MD 20817 PHONE: 301 214 3442 FAX: 301 214 7130 DATE: April 30, 1997 For Immediate Release - --------------------- COMSAT CHAIRMAN RESIGNS FOR MEDICAL REASONS -- Edwin I. Colodny Elected New Chairman of the Board -- Bethesda, Md. -- COMSAT Corporation today announced that C. J. Silas has resigned as chairman and as a member of the company's board of directors for health reasons following recent open-heart surgery. The board of directors has elected Edwin I. Colodny to serve as chairman. "We are very saddened by Pete Silas' resignation and offer our heartfelt best wishes for a full and speedy recovery," said Betty C. Alewine, COMSAT president and chief executive officer. "Pete has helped guide this company through the transition to a new management team and the development of a new strategic plan. He is a distinguished business leader whose insights will be greatly missed. We are fortunate that Ed Colodny, who has an equally valuable wealth of experience, will assume the leadership role of chairman." "With the talented management team led by Betty Alewine, our strategic plan will stay on course and on schedule," said Ed Colodny. "COMSAT is refocused on its core strengths in international telecommunications and technology, and I share the Board's optimism about this company's future." Edwin I. Colodny has been a director of COMSAT since 1992. He has served as both chairman and chief executive officer of US Airways Group, Inc. and of its subsidiary, US Airways, Inc., a commercial airline company, and is a director of both corporations. He also is a director of Ascent Entertainment Group, Inc. and Esterline Technologies Corporation and a member of the board of trustees of the University of Rochester. A biography of Mr. Colodny is attached to this press release. COMSAT Corporation (NYSE: CQ) is a global provider of communications services and products. # # # CONTACT: Janet Dewar Vice President, Corporate Affairs (301) 214 3442 Gary Sharpe Director, Investor Relations (301) 214 3244 Page Two EDWIN I. COLODNY Edwin I. Colodny is chairman of the board of COMSAT Corporation. He has served as a director of COMSAT since 1992. Mr. Colodny retired on July 1, 1992 as chairman of US Airways Group, Inc. and US Airways, Inc. Until June 1991, he was president and chief executive officer of US Airways Group and US Airways, having served as president of US Airways since 1975. Mr. Colodny is a director of US Airways Group, Inc. and US Airways, Inc., Ascent Entertainment Group, Inc. and Esterline Technologies. He is a member of the board of trustees of the University of Rochester, a commissioner of the National Museum of American Art of the Smithsonian Institution and a trustee of the Shelburne Museum of Shelburne, Vermont. He joined US Airways in 1957 as assistant to the president. In 1969, Mr. Colodny was elected executive vice president, legal affairs and marketing services, with responsibility for all customer service, in-flight services and station operations. He held this position until 1973 when he was named executive vice president, marketing and legal affairs, a position that included the direction of the company's marketing, advertising and sales promotion programs. Prior to joining US Airways, Mr. Colodny was affiliated with the Office of the Judge Advocate General as a first lieutenant in the U.S. Army and was a trial attorney with the Civil Aeronautics Board Bureau of Air Operations. Mr. Colodny joined the Washington, D.C. office of Paul, Hastings, Janofsky & Walker as of counsel in 1991. Mr. Colodny has received numerous awards recognizing his contributions to the aviation industry, including, in 1990, the Wright Brothers Memorial Award and the Tony Janus Award. In 1985, he received an honorary doctorate of commercial science degree from Robert Morris College. In 1986, he received an honorary doctor of law degree from Middlebury College, and in 1988, an honorary doctor of humanities from Kings College. In 1996, he was named a laureate in the Washington Business Hall of Fame. A native of Burlington, Vermont, Mr. Colodny received an A.B. degree with distinction in 1948 from the University of Rochester. He earned an L.L.B. from Harvard Law School in 1951. # # # -----END PRIVACY-ENHANCED MESSAGE-----