View:
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
January 3, 1998
------------------------------------------------------
Date of Report (Date of earliest event reported)
KELLY SERVICES, INC.
------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Commission File Number 0-1088
Delaware 38-1510762
- --------------------------------- -------------------
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
999 West Big Beaver Road, Troy, Michigan 48084
------------------------------------------------------
(Address of principal executive offices)
(Zip Code)
(248) 362-4444
------------------------------------------------------
(Registrant's telephone number, including area code)
No Change
------------------------------------------------------
(Former name or former address, if changed
since last report.)
Item 1. Change in Control of Registrant
On January 3, 1998, William Russell Kelly, the founder, Chairman of the
Board, and controlling shareholder of Kelly Services, Inc. (the "Company"),
died at age 92 at his home in Florida.
Through a revocable trust of which he was settlor and sole trustee, Mr.
Kelly was the beneficial owner of 2,189,840 shares (61.3%) of the Company's
outstanding Class B common stock, the only outstanding class entitled to vote
for directors. Through the same trust, Mr. Kelly also was the beneficial
owner of 14,770,661 shares (42.7%) of the Company's outstanding Class A
common stock. The trust which holds these shares became irrevocable at his
death; the successor trustees are Mr. Kelly's son, Terence E. Adderley, and
NBD Bank, a Michigan banking corporation.
Under the terms of the agreement governing the trust, the power to vote
all voting securities held in trust is shared by the co-trustees, but Mr.
Adderley has sole dispositive power over the trust shares of Class B common
stock and Class A common stock. He also is one of the main beneficiaries of
the trust and in that capacity is to receive a distribution of a substantial
portion of the trust's assets, which the trust agreement contemplates will be
made primarily in shares of Class B common stock.
Already the Chief Executive Officer and a director of the Company, Mr.
Adderley now also has been appointed by the Company's Board of Directors to
succeed his father as Chairman of the Board.
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.
Kelly Services, Inc.
(Registrant)
Date: January 20, 1998 s/ P. K. Geiger
P. K. Geiger
Senior Vice President and
Chief Financial Officer