-----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, CAANEn63BY/oRPO5ZlY+Ve4CTr+Cf5PkbLhAw+6cqdmx8BsAiKzjrr3zq6Hk9SmA +8TroZC82HP1ybtve64tLQ== 0001157523-03-001677.txt : 20030506 0001157523-03-001677.hdr.sgml : 20030506 20030506141752 ACCESSION NUMBER: 0001157523-03-001677 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030505 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DAISYTEK INTERNATIONAL CORPORATION /DE/ CENTRAL INDEX KEY: 0000887403 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PAPER AND PAPER PRODUCTS [5110] IRS NUMBER: 752421746 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25400 FILM NUMBER: 03683940 BUSINESS ADDRESS: STREET 1: 1025 CENTRAL EXPRESSWAY SOUTH STE 200 CITY: ALLEN STATE: TX ZIP: 75013 BUSINESS PHONE: 9728814700 MAIL ADDRESS: STREET 1: 1025 CENTRAL EXPRESSWAY SOUTH STE 200 CITY: ALLEN STATE: TX ZIP: 75013 8-K 1 a4390405.txt DAISYTEK 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): May 5, 2003 Daisytek International Corporation (Exact Name of Registrant as Specified in Charter) Delaware 0-25400 75-2421746 --------------- ------------- ----------------- (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification No.) incorporation) 1025 Central Expressway South, Suite 200 Allen, Texas 75013 (Address of Principal Executive Offices, including zip code) (972) 881-4700 (Registrant's Telephone Number, including area code) N/A (Former Name or Former Address, if Changed Since Last Report) ITEM 5. OTHER EVENTS On May 5, 2003, Daisytek International Corporation ("Daisytek") issued a press release, filed herewith as Exhibit 99.1, announcing that the Board of Directors of Daisytek has accepted the resignations of two Daisytek senior executives. James R. Powell stepped down as President and Chief Executive Officer, a position he had held since early 2000. Powell ceded his position on the Board of Directors as well. Ralph Mitchell, Executive Vice President and Chief Financial Officer, also resigned for personal reasons. Dale A. Booth, who had been serving as Executive Vice President and Chief Operations Officer, was named Interim President and Chief Executive Officer. Booth is expected to name a new Chief Financial Officer within days. John D. Kearney, Sr. was named Executive Vice President and Chief Restructuring Officer. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Financial statements of business acquired Not applicable (b) Pro forma financial information Not applicable (c) Exhibits 99.1 Press Release dated May 5, 2003. SIGNATURE 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. DAISYTEK INTERNATIONAL CORPORATION By: /s/ JOHN D. KEARNEY, SR. ----------------------------------------- John D. Kearney, Sr. Acting Chief Financial Officer Dated: May 6, 2003 Index to Exhibits Exhibit Number Description ------- ----------- 99.1 Press Release dated May 5, 2003. EX-99 3 a4390405_ex991.txt DIASYTEK EXHIBIT 99.1 Exhibit 99.1 Daisytek Names Dale A. Booth Interim President and Chief Executive Officer ALLEN, Texas--(BUSINESS WIRE)--May 5, 2003--The Board of Directors of Daisytek International Corporation (Nasdaq:DZTK) has accepted the resignations of two Daisytek senior executives. James R. Powell stepped down as President and Chief Executive Officer, a position he had held since early 2000. Powell ceded his position on the Board of Directors as well. Ralph Mitchell, Executive Vice President and Chief Financial Officer, resigned for personal reasons. Dale A. Booth, who had been serving as Executive Vice President and Chief Operations Officer, was named Interim President and Chief Executive Officer. Booth is expected to name a new Chief Financial Officer within days. In addition, John D. (Jack) Kearney, previously Executive Vice President and Acting Chief Financial Officer, has accepted the newly created role of Executive Vice President and Chief Restructuring Officer, reporting to the Daisytek Board of Directors. "Although Daisytek faces significant financial and operational challenges, I am fortunate to be supported by great depth and breadth of experience in key leadership positions, and we are determined to take the steps necessary to achieve success," Booth stated. Booth has been a member of Daisytek's Board of Directors since 2000 and remained on the Board as an inside Director after joining the executive team in March of this year. Prior to joining Daisytek, he was Chairman and CEO of EngineX Networks and also spent 14 years with Fujitsu Network Communications in progressively responsible positions. Continuing in their Business Unit leadership roles are Bruce Robinson, President, ISA plc; Peter Wharf, President, International and George Babyak, President, US Subsidiaries. On Apr. 28, 2003, Daisytek announced that the company expected a significant loss for the fourth quarter of FY2003 and stated that financing options and reorganization alternatives were being evaluated, including the possibility of voluntary Chapter 11 filing under the U.S. Bankruptcy Code for one or more of the company's U.S. subsidiaries. Reductions in force are occurring in Daisytek's corporate headquarters in Allen, Texas as well as in distribution facilities located in Memphis, Tenn., Bakersfield, Calif., and Albany, NY. The company expects to release additional details as soon as possible. "We are working closely with our lenders, advisors and other interested parties around the world to ensure that we identify and explore every viable source of additional capital for the company," Booth continued. "Daisytek executives have taken voluntary compensation reductions and we continue to aggressively pursue other cost-savings plans that have been put into place." About Daisytek Daisytek is a global distributor of computer supplies, office products and accessories and professional tape media. Daisytek sells its products and services in North America, South America, Europe and Australia. Daisytek is a registered trademark of Daisytek, Incorporated. All rights reserved. CONTACT: Daisytek International Barbara Benson, 972-881-4700 bbenson@daisytek.com or Ketchum Teresa Henderson, 214-259-3449/214-668-6229 teresa.henderson@ketchum.com -----END PRIVACY-ENHANCED MESSAGE-----