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): January 7, 1998
Data I/O Corporation
(Exact name of registrant as specified in its charter)
Washington
(State of other jurisdiction of incorporation)
0-10394 91-0864123
(Commission File Number) (IRS Employer Identification No.)
10525 Willows Road N.E., Redmond, WA 98073-9746
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (425) 881-6444
Not Applicable
(Former name or former address, if changed since last report)
Page 1 of 4 Pages
ITEM 5. OTHER EVENTS
See the following press release, dated January 7, 1998, announcing certain
changes in the directors and officers of the Company. These changes are
effective immediately.
FOR IMMEDIATE RELEASE
For more information contact:
Frances M. Conley Joel S. Hatlen
Chairman, Data I/O Vice President/CFO, Data I/O
(206)447-8909 (425)881-6444
DATA I/O ANNOUNCES NEW MANAGEMENT APPOINTMENTS
REDMOND, WASH. -- January 7, 1998 -- Data I/O-Registered Trademark- Corporation,
the worldwide leader in programming technology for programmable integrated
circuits (ICs), today announced the appointment of Milton F. Zeutschel, a
founder, past president and a director of the company, as acting president and
chief executive officer replacing William C. Erxleben. The company also
announced that Frances M. Conley, a director of the Company since August 1995,
will assist with transitional matters by serving as acting chairman of the Board
of Directors. In addition, the company announced the promotion of chief
accounting officer and corporate controller Joel S. Hatlen to Vice President of
Finance and Chief Financial Officer replacing Alan Beauchamp. These changes
follow the recent divestitures of two of the Company's three divisions,
Reel-Tech and Synario-Registered Trademark- Design Automation.
Departing CEO Bill Erxleben stated "After four years as CEO, having accomplished
a substantial repositioning of the Company, I am ready to take some time off and
pursue other interests. We are extremely fortunate that Milt Zeutschel, a
founder of the Company and a pioneer in programmer technology, is available to
serve as interim CEO as the Company conducts a search for a new CEO with a broad
technical background. I will assist with this transition as a consultant to the
Company."
Mr. Zeutschel commented, "Data I/O has made significant progress under Bill
Erxleben's leadership and we are very grateful for all his efforts."
Mr. Zeutschel is also the founder and currently the Chairman of Zetron, Inc., a
manufacturer of radio and telephone communications control equipment.
Joel Hatlen joined Data I/O in 1991 as senior tax accountant. Since that time,
he has held a series of progressively responsible positions, including tax
manager and corporate controller. Prior to joining Data I/O, Hatlen worked for
ten years at Ernst & Young LLP, a certified public accounting and consulting
firm.
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Alan Beauchamp joined Data I/O in April 1997. According to Bill Erxleben,
Beauchamp was hired to assist with major transactions, particularly the
divestiture of the Synario Division.
"We want to thank Alan for the contributions he has made during his tenure
here," said Erxleben. "During this time, Alan played a pivotal role in
facilitating the sale of Data I/O's Synario and Reel-Tech divisions. With the
conclusion of Alan's assignment here, we are pleased to have a well qualified
replacement in the company. We believe that Joel Hatlen's many years of
experience in finance will greatly benefit the company."
The market leader for more than 25 years, Data I/O Corporation is the world
leader in device programming and handling solutions, providing the most
comprehensive product offering from design through manufacturing of programmable
integrated circuits. It is the first and only device programming systems
supplier to receive ISO 9001 certification. The company, which is publicly
traded (NASDAQ: DAIO), is headquartered in Redmond, Wash., and has sales and
service offices worldwide.
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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.
Data I/O Corporation
January 9, 1998 By /s/Joel S. Hatlen
----------------------
Joel S. Hatlen
Vice President - Finance
Chief Financial Officer
Secretary and Treasurer
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