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) September10, 2001
CTS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Indiana 1-4639 35-0225010
(State or other jurisdiction (Commission) (IRS Employer
of Incorporation) File Number) Identification No.)
905 West Boulevard North, Elkhart, Indiana 46514
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 219-293-7511
N/A
(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. Other Events.
The information regarding an announcement on September 10, 2001
contained in the press release filed as Exhibit A to this report is incorporated
herein by reference.
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.
CTS CORPORATION
By: /S/ Richard G. Cutter, III
------------------------------
Name: Richard G. Cutter, III
Title: Vice President General
Counsel and Assistant Secretary
Dated: September 10, 2001
EXHIBIT A
---------
newsrelease
CTS CORPORATION Elkhart, Indiana 46514 (219) 293-7511
September 10, 2001
FOR RELEASE: Immediately
CTS NAMES CEO AS PART OF MANAGEMENT TRANSITION PLAN
---------------------------------------------------
Elkhart, IN... CTS Corporation (NYSE:CTS) announced today that its Board of
Directors had named Donald K. Schwanz to succeed Joseph P. Walker as Chief
Executive Officer upon Mr. Walker's retirement later this year.
Schwanz is currently CTS' President and Chief Operating Officer. Before joining
CTS, Schwanz, 57, was President of Honeywell's Industrial Control Business,
which had almost $3 billion of revenue worldwide. He was elected to the CTS
Board last June.
Walker, who has been CTS' Chief Executive Officer since 1988, will retire from
that post September 30, but will remain as Chairman of the Board until year end
when it is expected that Donald Schwanz will be named Chairman, in addition to
being CEO.
"When we were able to convince Don to join CTS, we were hopeful that he would
fit into our culture. That fit and his performance have been even better than
expected, and I am very confident in turning over the reins to him, and that CTS
will flourish under his leadership," Walker said.
"Joe has done a superb job as CEO these past 13 years, positioning CTS for
success in high- growth markets and delivering value for the stakeholders. Those
are big shoes to fill. We are fortunate that his counsel and expertise will
still be available to CTS. I am deeply honored by the Board's decision to elect
me to succeed Joe, and am highly appreciative of his continuing support to
assure a seamless transition," said Schwanz.
# # # #
CTS Corporation is a leading manufacturer of electronic components and
assemblies for the communications, computer and automotive markets. The Company
manufactures products in North America, Europe and Asia. The Company's stock is
traded on the NYSE under the ticker symbol "CTS." To find out more, visit the
Company's website at www.ctscorp.com.
Released by: James L. Cummins