-----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, MRXz9jDbs5lInWI4PxQC3vVR0vEQKZZuWimfOrQ64a5+Fin/YWbQSDCodY5qyQRR DvJRiuTyhkIKrHtS7VxlIg== 0001021408-98-000442.txt : 19980714 0001021408-98-000442.hdr.sgml : 19980714 ACCESSION NUMBER: 0001021408-98-000442 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980709 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980710 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: IOS CAPITAL INC CENTRAL INDEX KEY: 0000922255 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PAPER AND PAPER PRODUCTS [5110] IRS NUMBER: 232493042 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-20405 FILM NUMBER: 98664194 BUSINESS ADDRESS: STREET 1: 1738 BASS RD CITY: MACON STATE: GA ZIP: 31210 BUSINESS PHONE: 2152968000 MAIL ADDRESS: STREET 1: BOX 834 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: IKON CAPITAL INC DATE OF NAME CHANGE: 19980113 FORMER COMPANY: FORMER CONFORMED NAME: ALCO CAPITAL RESOURCE INC DATE OF NAME CHANGE: 19940425 8-K 1 FORM 8-K FOR IOS CAPITAL 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) July 9, 1998 IOS CAPITAL, INC. (Exact name of registrant as specified in its charter) ------------------------------------------------------ DELAWARE File No. 0-20405 23-2493042 - ---------------------------- ---------------- ------------- (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification Number) 1738 Bass Road, Macon, Georgia 31210 ------------------------------ ----- (Address of principal executive offices) (Zip Code) (912) 471-2300 Registrant's telephone number, including area code: Not Applicable ----------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events. ------------ On July 9, 1998, the Registrant's parent, IKON Office Solutions, Inc. ("IKON"), issued a press release announcing the appointment of James J. Forese as IKON's President, Chief Executive Officer and a member of the Board of Directors. Mr. Forese has served as Executive Vice President and President of International Operations for IKON since January 1997, and served as Executive Vice President and Chief Operating Officer of Alco Standard, IKON's predecessor company, during 1996. IKON also announced that Richard A. Jalkut, who has been a director of IKON since 1996, has been appointed Non-executive Chairman. John E. Stuart, who had served as IKON's Chairman, President and Chief Executive Officer, has resigned his positions with IKON. This Report includes or incorporates by reference information which may constitute forward-looking statements about the Registrant or IKON made pursuant to the safe harbor provisions of the federal securities laws. Although the Registrant believes the expectations contained in such forward-looking statements are reasonable, no assurances can be given that such expectations will prove correct. Such forward-looking information is based on the Registrant's or IKON's current plans or expectations, and is subject to risks and uncertainties that could significantly affect the Registrant's and/or IKON's current plans, anticipated actions and future financial condition and results. These uncertainties and risks include, but are not limited to, those relating to IKON's successful management of an aggressive program to acquire and integrate new companies, including companies with technical services and products that are relatively new to IKON, and also including companies outside the United States, which present additional risks relating to international operations; risks and uncertainties (applicable to both the Registrant and IKON) relating to conducting operations in a competitive environment; delays, difficulties, technological changes, management transitions and employment issues (applicable to both the Registrant and IKON) associated with a large-scale transformation project; debt service requirements (applicable to both the Registrant and IKON), including sensitivity to fluctuation in interest rates; and general economic conditions. As a consequence, current plans, anticipated actions and future financial condition and results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Registrant or IKON. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. ------------------------------------------------------------------ (c) Exhibits. -------- 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 thereunto duly authorized. IOS CAPITAL, INC. By: /s/ Harry Kozee ---------------- Harry Kozee Vice President - Finance Dated: July 9, 1998 Index to Exhibit ---------------- (99) IKON's Press Release dated July 9, 1998 EX-99 2 PRESS RELEASE DATED 7/9/98 EXHIBIT 99 (1) [LETTERHEAD OF IKON APPEARS HERE] News Release --------------------------------------------------------------------- CONTACTS Susan G. Gaffney Investor Relations 610-408-7292 sgaffney@ikon.com ----------------- IKON BOARD APPOINTS JAMES J. FORESE PRESIDENT AND CEO RICHARD A. JALKUT NAMED NON-EXECUTIVE CHAIRMAN FORESE SAYS HE WILL BUILD ON "IKON'S STRONG CUSTOMER BASE AND ITS MANY FUNDAMENTAL STRENGTHS" VALLEY FORGE, PENNSYLVANIA - JULY 9, 1998 - IKON Office Solutions (NYSE: IKN) today announced that its Board of Directors has appointed James J. Forese President and Chief Executive Officer and elected him a member of the Board of Directors, effective immediately. The Board also has named Richard A. Jalkut, currently a Director of the Company, as Non-executive Chairman of the Board. John E. Stuart, 54, who had served as Chairman and Chief Executive Officer, has resigned all his positions with the Company. Mr. Forese, 62, has served as Executive Vice President and President of International Operations for IKON since January 1997. He was Executive Vice President and Chief Operating Officer of Alco Standard, IKON's predecessor company, during 1996. Prior to his employment with IKON, Mr. Forese spent 36 years with IBM Corporation in numerous executive positions. He was a senior executive with IBM World Trade Europe/Middle East/Africa and IBM World Trade Americas, where he led the Latin American and Canadian operations. He also served as President of the Office Products Division. In addition, he was Vice President of Finance and, in his last position at IBM, he served as Chairman of IBM Credit -more- -2- Corporation and was a Member of IBM's Worldwide Management Council. Mr. Forese serves on the Board of Directors of Unisource Worldwide Inc., American Management Systems and National Utilities Investor's Corporation. Mr. Forese has a Bachelor's degree from Rensselaer Polytechnic Institute and a Master's degree from the Massachusetts Institute of Technology. Richard A. Jalkut, 54, has served as a Director of IKON since 1996 and is a member of the audit, human resources and investment committees. Mr. Jalkut is President and Chief Executive Officer of PathNet, a wireless telecommunications company. He serves on the Board of Directors of Marine Midland Bank and is a member of the Board of Trustees of Boston College. Mr. Jalkut was previously President of NYNEX Telecommunications Group, President of New York Telephone and Chief Executive Officer of New York/New England Telephone. "The entire Board strongly supports the appointment of Jim Forese to be IKON's leader," said Mr. Jalkut. "Jim has repeatedly demonstrated leadership and delivered results as he has expanded our international operations. And, in his nearly four decades of experience in the information technology industry, he has gained the respect of peers and competitors alike for his dedication, judgment, and business acumen. We are confident that Jim is the right person to address the challenges facing IKON and to capitalize on its considerable opportunities for growth. "At the same time, we wish to acknowledge the contributions made by John Stuart during his tenure. He spearheaded the development of IKON as a public company and its growth into a $5 billion enterprise," Mr. Jalkut added. Mr. Forese commented, "In a relatively short period of time IKON has built a powerful foundation in the office solutions industry with three solid operations: business, outsourcing and technology services. Our total solutions offerings around a customer-focused strategy uniquely position IKON in this dynamic and growing industry. -more- -3- "IKON's full potential has not been realized. Our efforts to acquire numerous local businesses and create a cohesive global network, although successful in many ways, have taken longer and caused more disruption than anticipated. Our goal is to build on IKON's strong customer base and its many fundamental strengths while continuing a disciplined and consistent approach to managing operations and executing our total solutions strategy. "Obviously, there is work to be done, but we have a very strong company with an excellent future. I look forward to working with our employees, who are our greatest asset, as well as with the Board and our management team to achieve our common objectives on behalf of shareholders and customers alike," Mr. Forese concluded. In addition to the changes announced today, IKON is conducting a detailed operations and financial review. This review will also give Mr. Forese an opportunity to become more familiar with all the Company's operations. IKON expects the review to be completed by the end of July and to thereafter announce its third quarter results in early August, 1998. IKON Office Solutions (HTTP://WWW.IKON.COM) is one of the world's leading office technology companies providing customers with total office solutions from copier and printing systems, computer networking and digital document services to copy center management, hardware and software product interfaces and electronic file conversion. With fiscal 1997 revenues of more than $5 billion, IKON Office Solutions has more than 1,100 locations in the U.S., Canada, Mexico, the United Kingdom, France, Germany and Denmark. This news release includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the federal securities laws. Although IKON believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. This information is subject to risk and uncertainties such as those relating to managing an aggressive program to acquire and integrate new companies; conducting activities in a competitive environment; delays, difficulties, management transitions and employment issues associated with its transformation; and general economic conditions. Therefore, actual results may differ materially from the forward-looking statements. -----END PRIVACY-ENHANCED MESSAGE-----