Flanders Corporation CEO Harry Smith Named Chairman
27 Abril 2009 - 8:05AM
Marketwired
Flanders Corporation (NASDAQ: FLDR) announced, effective May 1st,
Harry Smith, 39, CEO, will become Chairman of the Board of
Directors and continue as CEO, and Robert Amerson, 59, will retire
as Chairman and no longer receive compensation or board fees.
Amerson stated, "It has been a privilege to lead Flanders for
more than 20 years. We have faced challenges over the last few
years, but the recent results are a testament to the strength of
the management team and its accomplishments in increasing
efficiencies, reducing costs and fortifying our financial
foundation. We are operating profitably and the entire company is
focused on increasing shareholder value. I have complete faith in
Harry, and with his team in place I have the luxury of pursuing
other business opportunities and spending more time with my
family."
Smith said, "I want to thank Robert for his devotion to Flanders
and for his confidence in my abilities. I am excited about Flanders
as a leader and innovator in air filtration, and I am committed to
continue to lead focused on revenue growth, profitability and
positive EBITDA."
Jeff Korn, lead independent director, commented, "On behalf of
the board and the entire company I want to thank Robert for his
years of dedicated service. Selfishly, we are sorry to see him
retire -- but we are happy for him and wish him nothing but the
best. I share Robert's belief in Harry and know Robert has left the
company in incredibly good hands."
Management will discuss this event on its first quarter 2009
earnings conference call planned for Monday, May 4, 2009. Flanders
will host an earnings conference call to discuss these results at
11:00 A.M. Eastern Time. To access the call in the U.S., please
dial (866) 425-6192, and for international callers dial (973)
409-9253 approximately 10 minutes prior to the start of the
conference call. The conference ID will be 95329001. The conference
call will also be broadcast live over the Internet and available
for replay for 90 days at the company's website,
www.flanderscorp.com. A telephone replay will be available until
midnight Eastern Time on May 6th by dialing (800) 642-1687 or (706)
645-9291 and entering pass code 95329001.
Safe Harbor Statement
The statements made in this press release regarding Flanders (1)
increasing efficiencies, reducing costs and fortifying its
financial foundations, (2) operating profitably and having the
entire company focused on increasing shareholder, (3) Amerson
leaving the company in incredibly good hands and other similar
statements of expectation which could identify forward-looking
statements. For a more detailed discussion of risk factors that may
affect Flanders' operations, please refer to the Company's Form
10-K for the year ended December 31, 2008. These forward-looking
statements speak only as of the date on which such statements are
made, and the Company undertakes no obligation to update such
forward-looking statements, except as required by law.
About Flanders
Flanders is a leading air filtration products manufacturer.
Flanders' products are utilized by many industries, including those
associated with commercial and residential heating, ventilation and
air conditioning systems, semiconductor manufacturing, ultra-pure
materials, biotechnology, pharmaceuticals, synthetics, nuclear
power and nuclear materials processing.
For further information on Flanders and its products, visit its
web site at http://www.flanderscorp.com/ or contact Kirsten Chapman
or Tim Dien at (415) 433-3777.
Contact: Kirsten Chapman Tim Dien (415) 433-3777
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