SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2006
Commission File Number: 011-16245
W.P. STEWART & CO., LTD.
(Translation of Registrant's Name Into English)
Trinity Hall
43 Cedar Avenue
P.O. Box HM 2905
Hamilton, HM LX
Bermuda
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F |_|
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)1:____
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)7:____
Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes |_| No |X|
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-______.
W.P. STEWART & CO., LTD.
See press release attached hereto dated March 13, 2006 regarding the appointment
of John C. Russell as interim President and Chief Executive Officer following
the resignation of Henry B. Smith for health reasons.
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.
W.P. STEWART & CO., LTD.
Date: March 15, 2006 By: /s/ Susan G. Leber
----------------------------------
Name: Susan G. Leber
Title: Chief Financial Officer
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knowledge. judgement. EXPERIENCE.
W.P. STEWART
& Co., Ltd. PRESS RELEASE
Contact: Fred Ryan
telephone: 441.295.8585
13 March, 2005
W.P. Stewart names John C. Russell interim President and Chief Executive
Officer following resignation of Henry B. Smith for health reasons
W. P. Stewart & Co., Ltd. ("W.P. Stewart" or the "Company") announced
today that John C. Russell, currently Deputy Chairman of the Board of Directors,
has been appointed President and Chief Executive Officer, on an interim basis,
following Henry B. Smith's decision to resign, as President and Chief Executive
Officer, for health reasons. The appointment of Mr. Russell and the resignation
of Mr. Smith are to be effective 31 March 2006.
Mr. Russell will relinquish the position of Deputy Chairman but remain on
the Company's Board of Directors as a Director and a member of the Executive
Committee of the Board. Mr. Smith will remain on the Board of Directors in the
position of Deputy Chairman and a member of the Executive Committee of the
Board.
William P. Stewart remains Chairman of the Board and continues to actively
manage significant client accounts for the Company. Mr. Stewart is also a member
of the Executive Committee of the Board.
Mr. Smith had major surgery early in 2005, which was successful, but
resulted in post-operative complications that make it difficult for him to meet
the demands imposed by the full-time role of President and Chief Executive
Officer. Consequently, Mr. Smith feels it is in his best interests and the
Company's that he step back from the day-to-day management activities while
remaining in an important role on the Company's Board of Directors.
The Board of Directors expressed their thanks to Henry Smith for his
leadership and contribution during the past year in his capacity as President
and Chief Executive Officer and wished him a speedy return to good health. The
Board also has established a special committee to
Trinity Hall, 43 Cedar Avenue, Hamilton, HM 12, Bermuda
mailing address: P.O. Box HM 2905, Hamilton HM LX, Bermuda
telephone: 441.295.8585 fax: 441.296.6823
conduct a search for a new President and Chief Executive Officer with plans to
fill the position within the next few months.
W.P. Stewart & Co., Ltd. is an asset management company that has provided
research intensive equity management services to clients throughout the world
since 1975. The Company is headquartered in Hamilton, Bermuda and has additional
operations or affiliates in the United States, Europe and Asia.
The Company's shares are listed for trading on the New York Stock Exchange
(NYSE: WPL) and on the Bermuda Stock Exchange (BSX: WPS).
For more information, please visit the Company's website at
http://www.wpstewart.com, or call W.P. Stewart Investor Relations (Fred M. Ryan)
at 1-888-695-4092 (toll-free within the United States) or +441-295-8585 (outside
the United States) or e-mail to IRINFO@wpstewart.com.
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