SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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):
March 15, 1999
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THERMO ELECTRON CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-8002 04-2209186
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
81 Wyman Street
Waltham, Massachusetts 02454-9046
(Address of principal executive offices) (Zip Code)
(781) 622-1000
(Registrant's telephone number
including area code)
This Current Report on Form 8-K contains forward-looking statements that
involve a number of risks and uncertainties. Important factors that could cause
actual results to differ materially from those indicated by such forward-looking
statements are set forth under the heading "Forward-looking Statements" in
Exhibit 13 to the Registrant's annual report on Form 10-K, as amended, for the
year ended January 3, 1998. These include risks and uncertainties relating to:
the Registrant's spinout and acquisition strategies, competition, international
operations, technological change, possible changes in governmental regulations,
regulatory approval requirements, capital spending and government funding
policies, dependence on intellectual property rights, and the potential impact
of the year 2000 on processing date-sensitive information.
Item 5. Other Events
On March 15, 1999, Thermo Electron Corporation (the "Registrant")
announced that its board of directors has appointed Richard F. Syron as
president and chief executive officer of the Registrant, effective June 1, 1999.
Mr. Syron, currently chairman and chief executive officer of the American Stock
Exchange, has served as an independent director of the Registrant since
September 1997. George N. Hatsopoulos, the Registrant's current chief executive
officer, will become its non-executive chairman of the board. Arvin H. Smith,
currently president of the Registrant, will remain with the Registrant in an
advisory role.
Mr. Syron has served in his current position at the American Stock Exchange
since 1994. Before joining the exchange, Mr. Syron served as president and chief
executive officer of the Federal Reserve Bank of Boston, beginning in 1989. From
1986 to 1989, he was president and chief executive officer of the Federal Home
Loan Bank of Boston. Mr. Syron holds M.A. and Ph.D. degrees in economics from
Tufts University, and a B.S. in economics from Boston College.
In addition, the Registrant announced that it expects to report diluted
earnings per share of approximately $.15 for its first quarter of 1999, which
ends April 3.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired: Not applicable.
(b) Pro Forma Financial Information: Not applicable.
(c) Exhibits: Not applicable.
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, thereunto duly authorized, on this 15th day of March, 1999.
THERMO ELECTRON CORPORATION
By: /s/ Theo Melas-Kyriazi
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Theo Melas-Kyriazi
Vice President and Chief
Financial Officer