SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date earliest event reported): February 8, 2002
Westcorp
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(Exact name of registrant as specified in charter)
California 33-13646 51-0308535
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(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification no.)
23 Pasteur, Irvine, California 92618
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(Address of principal executive offices)(Zip code)
Registrant's telephone number, including area code: (949) 727-1002
ITEM 5. OTHER EVENTS
February 8, 2002
Lisa Capps
Investor Relations
Westcorp
Phone: (949) 727-1002
Email: Investor_Relations@Westcorpinc.com
WESTCORP ANNOUNCES THE APPOINTMENT OF A NEW PRESIDENT
Irvine, CA: Westcorp (NYSE:WES), whose principal subsidiaries are WFS Financial
Inc (Nasdaq:WFSI) and Western Financial Bank, announced today that Tom Wolfe,
the President of WFS Financial, will assume the added duties and titles of
President of Westcorp and Chief Executive Officer of WFS Financial, effective
immediately.
Tom Wolfe has been with WFS Financial since April 1998 and has served as its
President since March 1999. Westcorp and WFS Financial do not anticipate that
there will be any significant changes in the current business activities or
direction of the Companies.
Joy Schaefer, previous President of Westcorp and Chief Executive Officer of WFS
Financial resigned to pursue other interests. "Joy will certainly be missed as
her accomplishments and commitment to our organization were instrumental in
creating the financial and professional successes we are most proud of today,"
commented Ernest Rady, Chairman of the Board of Westcorp and WFS Financial.
Westcorp is a financial services holding company whose principal subsidiaries
are WFS Financial Inc and Western Financial Bank. Westcorp is a publicly owned
company whose common stock is traded on the New York Stock Exchange under the
symbol WES. Information about Westcorp can be found at its Web site at
http://westcorpinc.com.
Westcorp, through its subsidiary, WFS, is one of the nation's largest
independent automobile finance companies. WFS specializes in originating,
securitizing, and servicing new and pre-owned prime and non-prime credit quality
automobile contracts through its nationwide relationships with automobile
dealers. Information about WFS can be found at its Web site at
http://www.wfsfinancial.com.
Westcorp, through its subsidiary, Western Financial Bank, operates 25 retail
bank branches throughout California and provides commercial banking services in
Southern California. Information on the products and services offered by the
Bank can be found at its Web site at http://www.wfb.com.
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SIGNATURES
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.
Westcorp
Date: February 8, 2002 /s/ Mark Olson
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Mark Olson, Vice President
and Controller
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