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 June 17, 1997
(Date of earliest event reported)
KIMBALL INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
INDIANA
(State or other jurisdiction of incorporation)
0-3279 35-0514506
(Commission File Number) (IRS Employee Identification Number)
1600 Royal Street, Jasper, Indiana 47549-1001
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (812) 482-1600
Not Applicable
(Former name or former address, if changed since last report)
ITEM 5. Other Events
The Registrant issued the following press release on June 17, 1997:
KIMBALL INTERNATIONAL REALIGNS SENIOR OFFICERS FOR FUTURE GROWTH
JASPER, IN (June 17, 1997)--Five of the top Kimball International
executive officers will assume new roles July 1, the company announced today.
"We have taken the steps to help ensure Kimball's continued success and
positioning for healthy growth," said new Chairman and Chief Executive Officer
Douglas A. Habig. "These appointments are the result of a management
succession plan that has been in place for some time. It is intended to allow
the company to move ahead aggressively as we address the challenges of the
next ten years and beyond."
The changes involve these officers:
* Chairman Thomas L. Habig, 69, will assume the position of
Vice Chairman of the Board of Directors.
* President and Chief Executive Officer Douglas A. Habig, 50,
becomes Chairman and Chief Executive Officer.
* James C. Thyen, 53, was named Kimball International's President.
Thyen most recently has served as Senior Executive Vice President,
Chief Financial and Administrative Officer, Treasurer.
* Gary P. Critser, 60, retains his duties as Senior Executive Vice
President and Secretary, and adds the position of Treasurer.
* Vice President and Director of Accounting Robert F. Schneider,
36, becomes Executive Vice President, Chief Financial Officer
and Assistant Treasurer.
Three other top executives' roles remain basically unchanged.
* Ronald J. Thyen, 60, Senior Executive Vice President, Operations
Officer, Furniture and Cabinets
* John B. Habig, 64, Senior Executive Vice President, Operations
Officer, Electronics
* John T. Thyen, 58, Senior Executive Vice President, Marketing
and Sales
Tom Habig, who has been Chairman of the Indiana-based furniture and
electronics manufacturer since 1982, said the appointments preserve
management continuity. Habig, who joined Kimball in 1950 and was elected
to the board in 1952, said his new position as Vice Chairman allows him
to continue to help shape the company's strategic direction.
New Chairman Doug Habig was named President in 1982 and Chief Executive
Officer in 1990. He was first elected to the board in 1973, when he became
Chief Financial and Administrative Officer and Treasurer.
New President Jim Thyen joined Kimball in 1967. He was named Vice
President in 1978, Executive Vice President in 1980, and Senior Executive
Vice President, Chief Financial and Administrative Officer and Treasurer in
1982. He was elected to Kimball's Board of Directors in 1982.
"Over the past few years, we've initiated major improvements in the way
we manufacture and market our products and services." said Thyen. "Our
challenge is to ensure that our investments accomplish the strategic goals we
set, that our businesses generate appropriate returns, and that we continue
to focus on enhancing our competitive position as we grow the sales and
profits of the company."
Gary P. Critser, Senior Executive Vice President, Secretary and Treasurer,
joined the company in 1965 as Controller for the Jasper Corporation subsidiary
and was named Vice President, Corporate Controller two years later. He was
named Executive Vice President, Controller in 1975, and in 1990 was elected to
the company's Board of Directors. In 1992, he was named Senior Executive Vice
President, Secretary and Chief Accounting Officer.
Robert F. Schneider, who becomes Executive Vice President, Chief Financial
Officer and Assistant Treasurer, has worked with Kimball for a decade. He was
appointed Corporate Controller in 1990 and Vice President and Director of
Accounting in 1992.
In the latest reporting period, the quarter ending March 31, 1997, Kimball
International earned $14.5 million, or 70 cents per Class B share, on sales of
$243.3 million, both third quarter records. The nine-month period also set
corporate records for sales ($744.8 million) and earnings ($42.7 million, or
$2.06 per Class B share.)
Kimball International, Inc. (NASDAQ: KBALB) is a diversified manufacturer
of consumer durable goods, including office, residential, hospitality and
healthcare furniture sold under the Company's family of brand names. Kimball
is a major supplier of electronic assemblies on an original equipment
manufacturer (OEM) basis. It makes other OEM products such as TV cabinets
and home furniture as well as produces plywood, dimension stock and other
lumber products.
Visit the Kimball Web Site at www.kimball.com
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.
Kimball International, Inc.
By: Gary P. Critser
GARY P. CRITSER
Senior Exec. Vice President,
Chief Accounting Officer
and Secretary
Date: June 25, 1997