UNITED STATES
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)
December 31, 2011
Tandy Brands Accessories, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
0-18927 |
75-2349915 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
3631 West Davis, Suite A Dallas, Texas 75211 |
|
| (Address of principal executive offices and zip code) |
(214) 519-5200
(Registrant's telephone number,
including area code)
________________________________________________________________________________
(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: | ||
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| [ ] | 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.
On January 4, 2012, Tandy Brands Accessories, Inc. (the "Company") announced that Dr. James Gaertner had resigned as a member of the Board of Directors of the Company, effective as of December 31, 2011. The resignation was not a result of a disagreement with the Company relating to the Company's operations, policies or practices and was not conditioned on the occurrence of any other event.
The Company also announced that Lisbeth R. McNabb has been appointed, effective January 1, 2012, as a member of the Board of Directors of the Company and the chair of the Board's Audit Committee. Ms. McNabb, age 51, brings over twenty years of experience to the Company in innovation across sales and business development, operations, financing and planning functions at companies such as Match.com, PepsiCo Frito Lay, American Airlines and AT&T.
Ms. McNabb founded w2wlink and has been its Chief Executive Officer since 2007. Prior to that time, she served as the Chief Financial Officer for match.com from 2005 to 2007 and the Senior Vice President – Finance and Planning for SODEXO from 1999 to 2005. Ms. McNabb currently serves on the board of directors of Nexstar Broadcasting and is the chair of its audit committee. She also serves as an advisory board member of American Airlines, Southern Methodist University, Texchange and the University of Nebraska Entrepreneurship Center. She earned her B.S. from the University of Nebraska and her M.B.A. from the Southern Methodist University Cox School of Business.
Item 9.01. Financial Statements and Exhibits.
Exhibit 99.1
Press Release, dated January 4, 2012.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Tandy Brands Accessories, Inc. |
||
| Date: January 4, 2012 | By: | /s/ N. RODERICK MCGEACHY, III N. Roderick McGeachy, III Chief Executive Officer |
EXHIBIT 99.1
DALLAS, Jan. 4, 2012 (GLOBE NEWSWIRE) -- Tandy Brands Accessories, Inc. (Nasdaq:TBAC) today announced changes to its Board of Directors.
On December 31, 2011, Dr. James F. Gaertner, a member of the Tandy Brands Board of Directors, announced his resignation, effective December 31, 2011. The resignation was not a result of any disagreement with the company.
Rod McGeachy, President, Chief Executive Officer and Chairman of the Board, stated, "We would like to take this opportunity to express our sincere gratitude and appreciation for the many years of service Dr. Gaertner has given to Tandy Brands. He has been an invaluable part of this company for many years, having originally served as the controller and chief financial officer for our predecessors from 1968 to 1973. In addition, he has served on our Board for more than twenty years, including several years as the Chairman of the Board. His wisdom, insight and experience will be missed. On behalf of the Tandy Brands family, we wish him and his family the best in enjoying his retirement."
Tandy Brands also announced the appointment of Lisbeth R. McNabb to the company's Board of Directors to fill the vacancy created by Dr. Gaertner's retirement, effective January 1, 2012. Ms. McNabb will also serve as the chair of the company's audit committee. Ms. McNabb is currently the founder and chief executive officer of w2wlink, a web-based community dedicated to mentoring professional women and entrepreneurs with resources for ideas and personal coaching.
Mr. McGeachy stated, "Ms. McNabb brings wide and varied experience to the Tandy Brands' Board from companies such as Match.com, PepsiCo Frito Lay, American Airlines and AT&T. We believe her financial, strategic marketing and executive experience will serve Tandy Brands and our stockholders well and we welcome her to the Board."
About Tandy Brands
Tandy Brands is a leading designer and marketer of branded men's, women's and children's accessories, including belts, gifts and small leather goods. Merchandise is marketed under various national as well as private brand names through all major retail distribution channels.
Safe Harbor Language
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company has based these forward-looking statements on its current expectations about future events, estimates and projections about the industry in which it operates. Forward-looking statements are not guarantees of future performance. Actual results may differ materially from those suggested by these forward-looking statements as a result of a number of known and unknown risks and uncertainties that are difficult to predict, including, without limitation, general economic and business conditions, competition in the accessories and gifts markets, acceptance of the Company's product offerings and designs, issues relating to distribution, the termination or non-renewal of any material licenses, the Company's ability to maintain proper inventory levels, and a significant decrease in business from or loss of any major customers or programs. Those and other risks are more fully described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements included in this release are made only as of the date hereof. Except as required under federal securities laws and the rules and regulations of the United States Securities and Exchange Commission, the Company does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any forward-looking statements after the distribution of this release, whether as a result of new information, future events, changes in assumptions, or otherwise.
CONTACT: Tandy Brands Accessories, Inc.
Rod McGeachy
President and Chief Executive Officer
214-519-5200
Investor Relations
Chuck Talley
Chief Accounting Officer
214-519-5200