Jason Macari, CEO of Summer Infant, Named Chairman of the Board
October 22 2008 - 4:01PM
Business Wire
Summer Infant, Inc. (�Summer Infant� or the �Company�) (Nasdaq:
SUMR, SUMRW) today announced that Jason Macari, Chief Executive
Officer of Summer Infant has been appointed Chairman of the Board
of Summer Infant. Mr. Macari replaces Dr. Marlene Krauss as
Chairman of the Board following her resignation as a Director and
the Chairman of the Board effective as of October 20, 2008. The
Company also announced that Bob Stebenne was approved as the new
lead independent director. The Board will immediately begin
searching for an additional independent director. �I am very
excited about taking on the additional role of Chairman of the
Board. We would like to thank Dr. Krauss for her dedication and
commitment to Summer Infant, as she has been a key resource in
taking our Company to the next level,� commented Jason Macari,
Chief Executive Officer and Chairman of the Board of Summer Infant.
�I am proud of Summer Infant�s significant accomplishments over the
past year and a half as a public company,� stated Dr. Krauss. �Now
that KBL has successfully transitioned the company to the public
markets and a sustainable growth path has been set, I decided to
resign in order to focus on other business opportunities. I am
confident that the operational expertise and resources within the
Company and the Board, led by Jason Macari, will continue to
provide a solid foundation for building the business and executing
the growth strategy in the years ahead.� About Summer Infant, Inc.
Based in Woonsocket, Rhode Island, the Company is a designer,
marketer and distributor of branded durable juvenile health, safety
and wellness products (for ages 0-3 years), which are sold
principally to large U.S. retailers. The Company currently sells
proprietary products in a number of different categories, including
nursery audio/video monitors, safety gates, durable bath products,
bed rails, infant thermometers and related nursery, health and
safety products, booster and potty seats, soft goods, bouncers,
strollers, travel accessories, highchairs and swings. Forward
Looking Statements Certain statements in this release that are not
historical fact may be deemed �forward-looking statements� within
the meaning of the Private Securities Litigation Reform Act of
1995, and the Company intends that such forward-looking statements
be subject to the safe harbor created thereby. These statements are
accompanied by words such as "anticipate," "expect," "project,"
"will," "believes," "estimate" and similar expressions. The Company
cautions that these statements are qualified by important factors
that could cause actual results to differ materially from those
reflected by such forward-looking statements. Such factors include
the concentration of the Company�s business with retail customers;
the ability of the Company to compete in its industry; the
Company�s dependence on key personnel; the Company�s reliance on
foreign suppliers; the costs associated with pursuing and
integrating strategic acquisitions; and other risks as detailed in
the Company�s Annual Report on Form 10-K for the fiscal year ended
December 31, 2007, and subsequent filings with the Securities and
Exchange Commission. The Company assumes no obligation to update
the information contained in this presentation.
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