0000039648-14-000027.txt : 20140716 0000039648-14-000027.hdr.sgml : 20140716 20140716092400 ACCESSION NUMBER: 0000039648-14-000027 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140710 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140716 DATE AS OF CHANGE: 20140716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: G&K SERVICES INC CENTRAL INDEX KEY: 0000039648 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] IRS NUMBER: 410449530 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-04063 FILM NUMBER: 14977138 BUSINESS ADDRESS: STREET 1: 5995 OPUS PARKWAY STREET 2: SUITE 500 CITY: MINNETONKA STATE: MN ZIP: 55343 BUSINESS PHONE: 9529125500 MAIL ADDRESS: STREET 1: 5995 OPUS PARKWAY STREET 2: SUITE 500 CITY: MINNETONKA STATE: MN ZIP: 55343 FORMER COMPANY: FORMER CONFORMED NAME: NORTHWEST LINEN CO DATE OF NAME CHANGE: 19681227 8-K 1 a8-k7162014.htm 8-K 8-K 7.16.2014


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 10, 2014
 
G&K Services, Inc.
(Exact Name of Registrant as Specified in Charter)
 
Minnesota
0-4063
41-0449530
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
 
5995 Opus Parkway, Minnetonka, MN
55343
(Address of Principal Executive Offices)
(Zip Code)
 
Registrant’s telephone number, including area code
(952) 912-5500
 
n/a
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The Board of Directors (the “Board”) of G&K Services, Inc. (“G&K”) appointed Thomas R. Greco as a member of the Board to fill the vacant directorship in Class II created by the resignation of Jeffrey Wright. In connection with his previously announced retirement from G&K, Mr. Wright resigned from the Board effective June 29, 2014. Mr. Greco’s appointment was effective July 10, 2014. Mr. Greco’s initial term will expire at the annual meeting of shareholders to be held in 2015. Mr. Greco will also serve as a member of the Board’s Compensation Committee. Mr. Greco was not selected as a director pursuant to any arrangement or understanding with any other person. Upon his appointment to the Board, Mr. Greco received a one-time grant of options to purchase 3,000 shares of G&K’s Class A Common Stock. The exercise price of these options was the closing price on the date of grant. These options have a ten year term and vest in three equal installments, beginning on the first anniversary of the grant date. Also, in connection with his service as a director, Mr. Greco will receive G&K’s standard non-employee director compensation as described on page 7 to 8 of G&K’s definitive proxy statement filed with the SEC on September 23, 2013.

Mr. Greco is president of Frito-Lay North America, where he leads PepsiCo’s snack and convenient foods business. Mr. Greco assumed this role in September 2011, after serving as executive vice president and chief commercial officer, North America Beverages, or NAB, where he was responsible for leading NAB’s commercial efforts across North America. Prior to September 2011, Mr. Greco was president of global sales for PepsiCo. Mr. Greco also previously served as president of Frito Lay Canada and senior vice president of sales for Frito-Lay North America. Mr. Greco joined PepsiCo in 1986.

Before joining PepsiCo, Mr. Greco worked at Procter & Gamble. Mr. Greco graduated with a bachelor of commerce degree from Laurentian University in Sudbury, Ontario, and received an MBA from the Richard Ivey School of Business in London, Ontario.

Item 7.01.    Regulation FD Disclosure.
 
On July 16, 2014, G&K issued a press release announcing Mr. Greco’s appointment. A copy of the press release announcing the foregoing events is attached hereto as Exhibit 99.1.

The information in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended.

Item 9.01.    Financial Statements and Exhibits.

(c) Exhibits

99.1    Press release (furnished)






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.
 
 
Date: July 16, 2014
By
/s/ Jeffrey L. Cotter
 
 
Jeffrey L. Cotter
 
Its
Vice President, General Counsel and Corporate Secretary




EX-99.1 2 a991pressrelease7162014.htm EXHIBIT 99.1 Press Release 7.16.2014


Press Release
FOR RELEASE: July 16, 2014

For Further Information:    
At the Company:
Jeff Huebschen, Director, Investor Relations
952.912.5773
Jeff.Huebschen@gkservices.com

Thomas R. Greco Joins G&K Services’ Board of Directors
MINNEAPOLIS, MN, July 16, 2014 - G&K Services, Inc. (NASDAQ: GK) announced today the appointment of Thomas R. Greco to the company’s Board of Directors and its Compensation Committee, effective July 10, 2014. He will fill the vacant directorship created by the departure of Jeffrey L. Wright, who resigned from the Board effective June, 29, 2014, in connection with his previously announced retirement from G&K. With Mr. Greco’s appointment, G&K’s Board will have nine directors, eight of whom are independent.

“I’m pleased to welcome a seasoned executive like Tom to G&K’s Board,” said M. Lenny Pippin, Chairman of G&K’s Board of Directors. “His extensive functional expertise in sales, marketing and operations, and experience leading route-based businesses will add a valuable perspective to the Board.”

Mr. Greco is president of Frito-Lay North America, where he leads PepsiCo’s snack and convenient foods business. He assumed this role in September 2011, after serving as executive vice president and chief commercial officer, North America Beverages (NAB), where he was responsible for leading NAB’s commercial efforts across North America.  Before that, he was president of global sales for PepsiCo.  He also previously served as president of Frito Lay Canada and senior vice president of sales for Frito-Lay North America. He joined PepsiCo in Canada in 1986.

Before joining PepsiCo, Mr. Greco worked at Procter & Gamble. He graduated with a bachelor of commerce degree from Laurentian University in Sudbury, Ontario, and received an MBA from the Richard Ivey School of Business in London, Ontario.

About G&K Services, Inc.
G&K Services, Inc. is a service-focused market leader of branded uniform and facility services programs in the United States, and is the largest such provider in Canada. Headquartered in Minneapolis, Minnesota, G&K Services has nearly 7,800 employees serving approximately 170,000 customers from 160 facilities in North America. G&K Services is a publicly held company traded over the NASDAQ Global Select Market under the symbol GK and is a component of the Standard & Poor’s SmallCap 600 Index. For more information visit www.gkservices.com.