UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): July 17, 2008
Xethanol Corporation
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
000-50154
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84-1169517
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(Commission File Number)
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(IRS Employer
Identification No.)
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3348 Peachtree Road NE
Suite 250, Tower Place 200
Atlanta, Georgia
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30326
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(Address of Principal Executive Offices)
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(Zip Code)
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(646) 723-4000
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On July 17, 2008, Mr. Gary Flicker was terminated from his positions as Chief Financial Officer (chief financial officer and principal accounting officer), Executive Vice President and Secretary of Xethanol Corporation, the
registrant.
On
July 18, 2008
,
Dr. Romilos Papadopoulos was appointed as the company’s Chief Operating Officer, Chief Financial Officer,
Executive Vice President
and Secretary. Dr. Papadopoulos’ appointment was effective immediately. A
copy of the press release
that
Xethanol
issued
on
July 18, 2008
announcing
these events
is attached to this Current Report on Form 8-K as Exhibit 99.1. Dr. Papadopoulos’ annual salary will initially be $275,000. His consulting agreement with Xethanol, under which he will be paid a total of $102,500, was terminated as of July 18, 2008.
From June 2007 through May 2008, Dr. Papadopoulos, age 49, served as Managing Director of The Jacoby Group, a
diversified investment group headquartered in Atlanta, Georgia, with investments in real estate, renewable energy,
education, healthcare and media. From August 2005 through June 2007, he was the Managing Partner of The Intuitus Group; a merchant banking firm based in Atlanta, Georgia that specialized in healthcare and alternative energy consulting and advisory services.
From August 2002
through
July 2005, Dr. Papadopoulos
was a Managing Director of Caymus Partners, an Atlanta-based middle market investment banking firm. At Caymus Partners, Dr. Papadopoulos was involved in
capital raising activities
for transactions ranging from
$10 to $50 million and
in
buy or sell side M&A transactions with deal sizes up to $250 million across a broad range of industries,
including
the
chemical, energy and pharmaceutical/biotech industries.
He is currently a member of the Board of Advisors of Caymus Partners.
Item 9.01
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Financial Statements and Exhibits.
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(d)
Exhibits
The following is the
index of
exhibits furnished in accordance with Item 601 of Regulation S-K, filed as part of this Current Report on Form 8-K:
Exhibit No.
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Exhibit
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99.1
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Press release issued by Xethanol Corporation on July 18, 2008.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Xethanol Corporation
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Date:
July 23, 2008
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By:
/s/ David R. Ames
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David R. Ames
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Chief Executive Officer and President
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