UNITED STATES
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)
October 1, 2004
------------------------------------------------------
THERMO ELECTRON CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Delaware 1-8002 04-2209186
(State or other Jurisdiction of (Commission File Number) IRS Employer
Incorporation) Identification No.)
81 Wyman Street, P.O. Box 9046 02454-9046
Waltham, Massachusetts (Zip Code)
(Address of Principal Executive Offices)
(781) 622-1000
(Registrant's Telephone Number,
Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
_ Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
_ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
_ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
_ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
As previously announced, Theo Melas-Kyriazi resigned from the position of
chief financial officer of Thermo Electron Corporation (the "Registrant")
effective as of October 1, 2004, and Peter M. Wilver, age 45, succeeded Mr.
Melas-Kyriazi as the Registrant's chief financial officer on October 1, 2004.
Prior to such appointment Mr. Wilver served as the Registrant's vice president
of financial operations since October 2000. From February 2000 to September
2000, Mr. Wilver served as vice president and chief financial officer of
Honeywell International's electronic materials division, and from May 1998 to
January 2000, he served as finance director of its aerospace aftermarket
services business.
The full text of the press release announcing the change in chief financial
officer issued by the Registrant on June 3, 2004 is attached as Exhibit 99 to
this Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(a) Financial Statements of Business Acquired: Not applicable.
(b) Pro Forma Financial Information: Not applicable.
(c) Exhibits:
99 Press Release issued by the Registrant on June 3, 2004.
SIGNATURE
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, on this 1st day of October 2004.
THERMO ELECTRON CORPORATION
By: /s/ Kenneth J. Apicerno
______________________________
Kenneth J. Apicerno
Treasurer
FOR IMMEDIATE RELEASE
Media Contact Information: Investor Contact Information:
Lori Gorski J. Timothy Corcoran
Phone: 781-622-1242 Phone: 781-622-1111
E-mail: lori.gorski@thermo.com E-mail: tim.corcoran@thermo.com
Website: www.thermo.com
Thermo Electron Appoints Peter M. Wilver Chief Financial Officer
Theo Melas-Kyriazi to Pursue New Entrepreneurial Career
WALTHAM, Mass. (June 3, 2004) - Thermo Electron Corporation (NYSE:TMO) announced
today that its board of directors has named Peter M. Wilver, currently vice
president of financial operations, to the post of chief financial officer,
effective October 1, 2004. Mr. Wilver will succeed Theo Melas-Kyriazi, who has
elected to leave Thermo to pursue entrepreneurial opportunities. Mr.
Melas-Kyriazi will remain with Thermo for four months to ensure a seamless
transition.
Marijn E. Dekkers, president and chief executive officer of Thermo Electron,
said, "Pete Wilver is the natural choice to become our new chief financial
officer. He has had an outstanding record of accomplishment throughout his
career and, since joining Thermo in 2000, has consistently demonstrated his
extraordinary financial acumen, as well as a thorough understanding of our
businesses. Our finance organization is in great hands.
"We are grateful to Theo for his contributions to Thermo Electron during the
past 18 years, especially since being named chief financial officer in 1999. He
has been a key player in the company's transformation, overseeing our
divestiture and acquisition activities, and developing and executing our
financial strategy by proactively reducing debt, monetizing investments, and
reorganizing the company's structure to reduce taxes and increase cash flow.
Theo has done an outstanding job representing the company with investors,
analysts, bankers, and other members of the financial community, and we all
respect him not only for his business capabilities, but also for the way he
demonstrates Thermo's values on a daily basis. While we are disappointed to see
Theo leave, we wish him well in his new career and look forward to hearing great
things from him."
"My career at Thermo has been incredibly challenging and rewarding," said Theo
Melas-Kyriazi. "The opportunity to work with an exceptional team of Thermo
employees over so many years has been a great experience. Although the decision
to leave was certainly difficult, this is the right time for me to pursue more
entrepreneurial opportunities that will allow me to leverage my financial and
management skills in a different way. I will leave with the confidence that
Thermo's strong financial organization will continue to prosper under Pete's
leadership. I look forward to working with him and other members of the Thermo
leadership team during the transition."
Pete Wilver said, "I am delighted to be selected as Thermo's next chief
financial officer and am looking forward to building upon the solid foundation
that the finance team has established under Theo's leadership. I'm also excited
to be taking on this role at a time when so much energy is being devoted to
growing the company."
Mr. Wilver, age 44, was appointed vice president of financial operations in
October 2000. From May 1998 to September 2000, he held finance positions at
Honeywell International, most recently serving as vice president and chief
financial officer of its electronic materials division. Prior to joining
Honeywell, Mr. Wilver served in numerous finance roles with Grimes Aerospace and
the General Electric Company.
A world leader in high-tech instruments, Thermo Electron Corporation helps life
science, laboratory, and industrial customers advance scientific knowledge,
enable drug discovery, improve manufacturing processes, and protect people and
the environment with instruments, scientific equipment, services, and software
solutions. Based in Waltham, Massachusetts, Thermo Electron has revenues of more
than $2 billion, and employs approximately 11,000 people in 30 countries
worldwide. For more information, visit www.thermo.com.
The following constitutes a "Safe Harbor" statement under the Private Securities
Litigation Reform Act of 1995: This press release 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 the company's Quarterly Report on Form 10-Q for the fiscal
quarter ended April 3, 2004. These include risks and uncertainties relating to:
the need to develop new products and adapt to significant technological change,
dependence on customers that operate in cyclical industries, general worldwide
economic conditions and related uncertainties, the effect of changes in
governmental regulations, dependence on customers' capital spending policies and
government funding policies, use and protection of intellectual property,
exposure to product liability claims in excess of insurance coverage, retention
of contingent liabilities from businesses we sold, realization of potential
future savings from new productivity initiatives, implementation of new branding
strategy, implementation of strategies for improving internal growth, the effect
of exchange rate fluctuations on international operations, identification,
completion and integration of new acquisitions and potential impairment of
goodwill from previous acquisitions. We undertake no obligation to publicly
update any forward-looking statement, whether as a result of new information,
future events, or otherwise.
###