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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): August 19, 1999
Daktronics, Inc.
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(Exact name of registrant as specified in its charter)
South Dakota 0-23246 41-0306862
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
331 32nd Avenue
Brookings, South Dakota 57006
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(Address of principal executive offices) (Zip Code)
Registrant?s telephone number, including area code: (605) 697-4000
Former name or former address, if changed since last report: not applicable.
Item 5: Other Events
On August 19, 1999 the Registrant announced the election of its
President and Chief Executive Officer Aelred J. Kurtenbach to
Chairman of the Board of Directors and the promotion of Executive
Vice President James B. Morgan to President and Chief Operating
Officer. A copy of the Registrants press release is attached as
Exhibit 5.1.
SIGNATURES
Pursuant to the requirement 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.
DAKTRONICS, INC.
By /s/ Paul J. Weinand
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Its Treasurer
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Dated: August 25, 1999 Paul J. Weinand, Treasurer
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Printed name and title
Exhibit 5.1
[LOGO] D(R) FOR IMMEDIATE RELEASE
From Daktronics, Inc.
331 32nd Avenue P.O. Box 5128 Brookings, SD 57006 Phone (605) 697-4000
www.daktronics.com
For more information contact Mark Steinkamp at (800) 605-DAKT (3258)
JAMES MORGAN PROMOTED TO PRESIDENT AND CHIEF OPERATING OFFICER OF
DAKTRONICS, INC.
AL KURTENBACH ELECTED CHAIRMAN OF THE BOARD
NANCY FRAME ELECTED DIRECTOR
BROOKINGS, SOUTH DAKOTA - AUGUST 19, 1999 - Daktronics, Inc. (NASDAQ - DAKT), a
leader in design and manufacture of electronic scoreboards, computer-
programmable display systems, and large screen video displays, announced at its
annual shareholders' meeting last night that James B. Morgan, executive vice
president of the company, had been promoted to president and chief operating
officer of Daktronics, Inc.
Dr. Aelred J. Kurtenbach, who will retain his title of chief
executive officer, was elected chairman of the board of directors.
JAMES MORGAN PROMOTED TO PRESIDENT AND COO
Morgan earned bachelor's and master's degrees in electrical
engineering from South Dakota State University and joined Daktronics in 1970 as
a graduate student. He was responsible for the design of the first Daktronics
scoreboard, the Matside(R) wrestling scoreboard in 1971. He also led the design,
manufacturing, and installation of the first Daktronics swim timing system, a
control system for a municipal water treatment plant, and the first Daktronics
outdoor electronic message center.
In May 1976, Morgan became the vice president of engineering. In
1980, Morgan was Daktronics project engineer for the 1980 Olympic Winter Games.
Morgan has also been responsible for the design and installation of numerous
voting systems for several legislative bodies, including the New York Assembly,
the United Nations General Assembly in New York and the California Assembly.
(MORE)
Morgan was elected to Daktronics' board of directors in August 1984.
In January 1996, Morgan was promoted to executive vice president,
and continued in his role as engineering manager, where he was responsible for
all custom contract design and new product design and development.
"Jim is a long-term, dedicated Daktronics executive, on whom I've
relied for sound, solid counsel in both business and technical matters," said Al
Kurtenbach. I'm extremely pleased that we have been able to promote him to this
new position, which he richly deserves."
DR. AELRED KURTENBACH ELECTED CHAIRMAN OF THE BOARD
Kurtenbach is a cofounder of Daktronics, Inc. and has served as CEO,
president and director of the Company since its origin. A native of Dimock,
South Dakota, he has B.S., M.S. and Ph.D. degrees, all in electrical engineering
from South Dakota School of Mines and Technology, the University of Nebraska and
Purdue University, respectively. He cofounded Daktronics, Inc. in 1968, while
teaching electrical engineering at South Dakota State University.
Kurtenbach served on the Brookings School Board for twelve years and
on the South Dakota Board of Regents from 1984-1986. He also served as chairman
of the South Dakota Manufacturers & Processors Association from 1984-1986 and as
director for the South Dakota Chamber of Commerce. He currently serves as
chairman of the Education Committee for the South Dakota Chamber of Commerce &
Industry, chairman of the South Dakota District Export Council and as chairman
of the South Dakota EPSCoR Committee, a program sponsored by the National
Science Foundation.
Kurtenbach was twice named South Dakota's Small Businessman of the
Year. He was honored in 1994 as the South Dakota Executive of the Year, and the
South Dakotan of the Year by the University of South Dakota School of Business.
OTHER ANNUAL MEETING BUSINESS; NANCY FRAME ELECTED DIRECTOR
In other business conducted at the annual meeting, shareholders
ratified the appointment of McGladrey & Pullen LLP as independent auditors for
the company for the fiscal year ending April 30, 2000, Aelred J. Kurtenbach and
Charles S. Roberts were reelected for three-year terms on the board of directors
and Nancy D. Frame was elected to her first three-year term on the board.
(MORE)
Frame is the deputy director of the United States Trade and
Development Agency (TDA) in Washington, D.C., a position she has held since
1986. Prior to coming to TDA , she was assistant general counsel for Management
in the general counsel's office at the Agency for International Development
(A.I.D.), where she specialized in the areas of international commercial law and
contracting. While at A.I.D., she co-authored an article on export promotion in
the foreign assistance progam for the INTERNATIONAL TRADE LAW JOURNAL. In 1983,
she received A.I.D.'s Superior Honor Award for outstanding service. In 1993, she
received the Presidential Rank Award for Meritorious Senior Executive. She was
also named recipient of the 1998 Presidential Rank Award for Distinguished
Service in the Senior Executive Service, the highest honor accorded to career
federal government employees.
Frame obtained her M.A. in International Relations and her law
degree from Georgetown University, Washington, D.C., where she was editor of the
American Criminal Law Review. She received her B.S. in Political Science and
Foreign Languages form South Dakota State University. She also studied at the
Institut d'Etudes Politiques in Grenoble, France, on a Fulbright Fellowship.
"Nancy's credentials speak for themselves. I'm confident that she
will bring an important new perspective to Daktronics. We feel honored to have
her serve on Daktronics' board," commented Kurtenbach.
Daktronics, Inc., a manufacturer and technical contractor, is one of
the world's largest suppliers of electronic scoreboards, computer-programmable
displays and large screen video boards. The company has strong leadership
positions in electronic scoreboards; outdoor programmable display systems
available in LED, incandescent and reflective technologies; and large screen
video display and control. The company has products working in more than 65
countries worldwide. For more information, write to the company at 331 32nd
Avenue, P.O. Box 5128, Brookings, SD 57006--5128, call toll-free 1-800-605-3258
in the U.S., email the investor relations department at investor@daktronics.com,
or visit the company's worldwide web site at http://www.daktronics.com.
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