-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WVDlI4dRnARYwF1uZqR0LR1Q/CYxMoDYNmDaSColOrsaF54C+IED9WYQu6jLeKCD Rassnz8LZLwbsmYtCaO7bQ== 0000353567-03-000013.txt : 20030718 0000353567-03-000013.hdr.sgml : 20030718 20030718113211 ACCESSION NUMBER: 0000353567-03-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030718 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030718 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ICO INC CENTRAL INDEX KEY: 0000353567 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS PRODUCTS, NEC [3089] IRS NUMBER: 760566682 STATE OF INCORPORATION: TX FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08327 FILM NUMBER: 03792524 BUSINESS ADDRESS: STREET 1: 5333 WESTHEIMER ROAD STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77056 BUSINESS PHONE: 7133514100 MAIL ADDRESS: STREET 1: 5333 WESTHEIMER ROAD STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77056 8-K 1 doc1.txt ================================================================================ 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): July 18, 2003 ---------------------- ICO, INC. (Exact name of registrant as specified in its charter) TEXAS 0-10068 76-0566682 (State or other jurisdiction (Commission File (I.R.S. Employer of incorporation) Number) Identification No.) 5333 WESTHEIMER ROAD SUITE 600 HOUSTON, TEXAS 77056 (Address of principal executive offices and zip code) (713) 351-4100 (Registrant's telephone number, including area code) ================================================================================ ITEM 5. OTHER EVENTS. On July 17, 2003, ICO, Inc. issued a press release announcing the resignation of Timothy J. Gollin as Chief Executive Officer and the appointment of Jon C. Biro, an ICO director and the Company's Chief Financial Officer, to assume Mr. Gollin's responsibilities until a new Chief Executive Officer is selected. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference into this Item 5. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits Exhibit Description 99.1 Press Release dated July 17, 2003 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. ICO, INC. Date: July 18, 2003 By: /s/ Jon C. Biro -------------------- Name: Jon C. Biro Title: Interim Chief Executive Officer and Chief Financial Officer EX-99.1 3 doc2.txt EXHIBIT 99.1 Corporate Headquarters 5333 Westheimer, Suite 600 Houston, Texas 77056 NEWS RELEASE Contact: Richard W. Neff Eileen Ketchum Phone: 713-351-4100 Fax: 713-335-2222 Website: www.icopolymers.com Pages: 2 - -------------------------------------------------------------------------------- ICO INC. ANNOUNCES TIMOTHY J. GOLLIN RESIGNS AS CEO; BOARD NAMES JON C. BIRO AS INTERIM CEO Houston, TX, July 17, 2003 - ICO, Inc. (Nasdaq: ICOC) announced today that Timothy J. Gollin, Chief Executive Officer, has resigned effective today. The Board of Directors has appointed Jon C. Biro, an ICO board member and the Company's Chief Financial Officer, to assume Gollin's responsibilities as CEO until a new CEO is elected. The Company also announced that it has engaged a nationally-recognized search firm to seek out a permanent CEO. Biro said, "We have executed the major points of the restructuring plan which this management team set out to complete. We remain dedicated to production of proprietary polymer products serving a variety of plastics industry segments, as well as to continued provision of size reduction services under the well established WEDCO service mark. ICO's employees are skilled and dedicated, and they remain committed to serving our customers. I am looking forward to serving as ICO's interim CEO and believe that the Company is well positioned to increase its market share in its core businesses." Biro remains the Company's Chief Financial Officer, but Brad Leuschner, ICO's Chief Accounting Officer, will assume his position as Treasurer on an interim basis. The Board of Directors expressed their appreciation for Gollin's service to the Company. Chris O'Sullivan, the Company's Chairman of the Board, said, "ICO is grateful to Tim for his contribution to the Company during the past two years. Tim has been an important part of the management team that has sharpened the Company's strategic focus, restructured its business, and laid the groundwork for the next stage of the Company's evolution." In conjunction with the termination of Gollin's employment agreement, the Company will pay Gollin severance equal to one year's base salary. Such severance will be in the amount of $247,500, and will be paid to Gollin over the next six months. Jon C. Biro, a certified public accountant, has been principally employed as Chief Financial Officer and Treasurer of ICO since April 2002. From September 1996 to April 2002, he was employed as Senior Vice President, Chief Accounting Officer and Treasurer of ICO, and from October 1994 to September 1996, he was employed as Controller of ICO. Prior to that time, Mr. Biro was with a predecessor of PricewaterhouseCoopers LLP. Through twenty plants worldwide, ICO Polymers produces and markets ICORENE and COTENE rotational molding powders, as well as ICOFLO powdered processing aids and ICOTEX powders for textile producers. ICO additionally provides WEDCO size reduction services for specialty polymers. ICO's Bayshore Industrial subsidiary produces specialty compounds, concentrates, and additives primarily for the film industry. This press release contains forward-looking statements, which are not statements of historical facts and involve certain risks, uncertainties and assumptions. These include, but are not limited to, demand for the Company's services and products, business cycles and other industry conditions, prices of commodities, international risks, operational risks, strategic alternatives available to the Company, and other factors detailed in the Company's form 10-K for the fiscal year ended September 30, 2002 and its other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. -----END PRIVACY-ENHANCED MESSAGE-----