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 4, 1999
THE PITTSTON COMPANY
(Exact Name of registrant as specified in its charter)
Virginia 1-9148 54-1317776
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of Incorporation)
1000 Virginia Center Parkway
P. O. Box 4229
Glen Allen, VA 23058-4229
(Address of principal (Zip Code)
executive offices)
(804)553-3600
(Registrant's telephone number, including area code)
Item 5. Other Events
The Registrant reports that, on January 4, 1999, Thomas W. Garges, Jr., was
elected President and Chief Executive Officer of Pittston Coal Company. The
Registrant's press release is attached as an exhibit to this report and
incorporated herein by reference.
Severance benefits payable to Karl K. Kindig pursuant to his agreement with
Pittston Coal Company are expected to be reflected in the fourth quarter
Pittston Minerals Group results.
EXHIBITS
99(a) Registrant's press release dated January 4, 1999.
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.
THE PITTSTON COMPANY
(Registrant)
By /s/ James B. Hartough
Vice President - Corporate
Finance and Treasurer
Dated: January 4, 1999
EXHIBITS
Exhibit Description
99(a) Registrant's press release dated January 4, 1999.
Exhibit 99(a)
[PITTSTON LOGO] The Pittston Company
1000 Virginia Center Parkway
PRESS RELEASE P. O. Box 4229
Glen Allen, VA 23058-4229
Tel 804.553.3600
Fax 804.553.3760
Contact: IMMEDIATE RELEASE
Investor Relations
804.553.3708
Thomas W. Garges, Jr. Elected President and
Chief Executive Officer of Pittston Coal Company
Richmond, VA - January 4, 1999 - Michael T. Dan, Chairman and Chief
Executive Officer of The Pittston Company, announced the election of Thomas
W. Garges, Jr. as President and Chief Executive Officer of Pittston Coal
Company effective today. Mr. Garges will also have overall responsibility
for all of the companies comprising Pittston Minerals Group.
Regarding Mr. Garges' election, Mr. Dan commented, "Tom Garges brings more
than thirty years of professional coal mining experience to Pittston. We are
very fortunate to have a person of Tom's stature in the coal industry heading
Pittston Minerals Group. We have the confidence that Tom will lead Pittston
Minerals successfully, and we fully expect the Group will benefit greatly
from his leadership and industry knowledge".
Mr. Garges rejoins Pittston after having served as President and Chief
Executive Officer of Rochester and Pittsburgh Coal Company. From 1971 to
1986 Mr. Garges served in several coal executive and operations positions
within Pittston, including Executive Vice President - Operations for Pittston
Coal and President of Pittston Coal's Pyxis operations in Virginia.
Mr. Garges, 59, holds a BSEM degree from West Virginia University and is a
Registered Professional Engineer. He will be based at Pittston Coal
Company's headquarters in Lebanon, Virginia and will relocate his family to
Southwestern Virginia.
* * * * * * * * *
Pittston Minerals Group Common Stock (NYSE-PZM), Pittston Brink's Group
Common Stock (NYSE-PZB) and Pittston BAX Group Common Stock (NYSE-PZX)
represent the three classes of common stock of The Pittston Company, a
diversified company with interests in mining and minerals exploration through
Pittston Coal Company and Pittston Mineral Ventures (Pittston Minerals
Group), security services through Brink's, Incorporated and Brink's Home
Security, Inc. (Pittston Brink's Group) and global freight transportation
and logistics management services through BAX Global Inc. (Pittston BAX Group).