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 Act of 1934
Date of Report (Date of earliest event reported) December 12, 2003
(Exact name of registrant as specified in its charter)
DST Systems, Inc.
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
Delaware 1-14036 43-1581814
333 West 11th Street, Kansas City, Missouri 64105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (816) 435-1000
Not Applicable
(Former name or former address, if changed since last report.)
FORM 8-K
DST SYSTEMS, INC.
Item 5 OTHER EVENTS
See attached to this Form 8-K a News Release dated December 12, 2003 concerning
organizational changes.
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit No. Description of Document
99.1 News Release dated December 12, 2003
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.
DST Systems, Inc.
/s/Randall D. Young
Vice President, General Counsel and Secretary
Date: December 15, 2003
Exhibit 99.1
DST SYSTEMS, INC. (DST) ANNOUNCES ORGANIZATIONAL CHANGES
KANSAS CITY, Mo., December 12, 2003 - Charles W. Schellhorn has announced his
resignation as President and CEO of DST Output, effective January 1, 2004, to
focus solely on his leadership role at Argus Health Systems, a 50% owned joint
venture of DST, based in Kansas City, Mo.
To fill the DST Output leadership position, Steven J. Towle, President and COO
of Boston Financial Data Services, Inc. (BFDS), a 50% owned joint venture of
DST, will become DST Output's President and CEO, effective January 1, 2004. He
will report directly to Thomas A. McDonnell, President and CEO of DST.
Mr. Towle joined Boston Financial in May of 1997 as the Senior Vice President
responsible for the Mutual Funds Division, Cash Management, Operations Support
Services and Client Resources. He previously served as a principal in Investor
Services with Scudder, Stevens & Clark in Boston, where he managed transfer
agent operations, servicing two million accounts in the Scudder, AARP and
Scudder Institutional Fund families.
Stephen C. Hooley, Senior Vice President of State Street Corporation, will
assume the position of President and CEO at BFDS, effective January 1, 2004. He
will report to Thomas A. McCullough, Executive Vice President and COO of DST and
Chairman of BFDS. In his 11 years with State Street, Mr. Hooley has held several
executive positions, including leading the company's corporate pensions
business, and has extensive experience in IT reengineering. He most recently
supervised the integration of the U.S. operations of the Global Securities
Services business acquired from Deutsche Bank into State Street.
Terry L. Metzger, DST Vice President of Mutual Fund Remote Customer
Relationships, will assume the role of Executive Vice President and COO at BFDS,
effective January 1, 2004, reporting to Steve Hooley. In his more than 24 years
at DST, Mr. Metzger's responsibilities included the management of several of
DST's remote mutual fund customer relationships, including BFDS. During the
transition, Mr. Metzger's direct reports will report to Robert L. Tritt, Group
Vice President of DST.
* * * *
The information and comments above may include forward-looking statements
respecting DST and its businesses. Such information and comments are based on
DST's views as of today, and actual results could differ. There could be a
number of factors affecting future results, including those set forth in Form
8-K/A dated March 17, 2003 filed by DST with the Securities and Exchange
Commission. All such factors should be considered in evaluating any
forward-looking comment. The Company will not update any forward-looking
statements in this press release to reflect future events.