Enesco Group, Inc. Announces New Leadership; Basil Elliott and Marie Meisenbach Graul Named to Permanent Positions; Jim Shore E
07 Junho 2006 - 5:21PM
Business Wire
Enesco Group, Inc. (NYSE:ENC), a leader in the giftware, and home
and garden decor industries, today announced that its Board of
Directors appointed Basil Elliott as President and Chief Executive
Officer, as well as elected him to the Company's Board of
Directors, and appointed Marie Meisenbach Graul as Executive Vice
President and Chief Financial Officer, both effective as of June 7,
2006. Mr. Elliott and Ms. Graul previously were named as interim
CEO and CFO, respectively, effective on May 15, 2006. Anne-Lee
Verville, Chairman of the Board of Directors for Enesco, stated,
"We are pleased to appoint Basil Elliott and Marie Graul to
permanent leadership positions. Both were our top candidates, and
the Board is very happy that Basil and Marie feel confident about
the Company and working in tandem to lead Enesco in the next phase
of our operating improvement plan and beyond. Basil's long tenure
with N.C. Cameron & Sons, our Canadian subsidiary, and his deep
knowledge of the gift industry, as well as Marie's financial and
operations expertise makes each of them the right leaders for
Enesco." The Company also announced today that Jim Shore has agreed
to continue his and Enesco's strategic alliance under the new
leadership. Jim Shore has notified the Company that he is satisfied
that Basil Elliott will maintain the spirit and letter of the
strategic alliance agreement. Under the terms of this agreement
between Enesco and Jim Shore Designs, Inc., Enesco was subject to a
change in control provision that allowed Jim Shore Designs to
terminate its agreement if there was a change in the CEO position
at Enesco. "I have worked with Basil for a number of years while he
was with N.C. Cameron and am very pleased that he was chosen to
become Enesco's president and CEO," said Jim Shore. "I've seen his
passion for product design and development. It's a common bond that
we share. Basil is devoted to both my designs and the Jim Shore
brand. I remain committed to Enesco to produce my work and give my
full support and appreciation to the new leadership. I am delighted
to be working with Basil in his new role." About Enesco Group, Inc.
Enesco Group, Inc. is a world leader in the giftware, and home and
garden decor industries. Serving more than 44,000 customers
worldwide, Enesco distributes products to a wide variety of
specialty card and gift retailers, home decor boutiques, as well as
mass-market chains and direct mail retailers. Internationally,
Enesco serves markets operating in the United Kingdom, Canada,
Europe, Mexico, Australia and Asia. With subsidiaries located in
Europe and Canada, and a business unit in Hong Kong, Enesco's
international distribution network is a leader in the industry.
Enesco's product lines include some of the world's most
recognizable brands, including Border Fine Arts, Bratz, Circle of
Love, Foundations, Halcyon Days, Jim Shore Designs, Lilliput Lane,
Pooh & Friends, Walt Disney Classics Collection, and Walt
Disney Company, among others. Further information is available on
Enesco's web site at www.enesco.com. This press release contains
forward-looking statements, which reflect management's current
assumptions and beliefs and are based on information currently
available to management. Enesco has tried to identify such
forward-looking statements by use of such words as "expects,"
"intends," "anticipates," "could," "estimates," "plans," and
"believes," and similar expressions, but these words are not the
exclusive means of identifying such statements. Such statements are
subject to various risks, uncertainties and other factors, which
could cause actual results to vary materially from those
anticipated, estimated, expected or projected. Important factors
that may cause actual future events or results to differ materially
and adversely from those described in the forward-looking
statements include, but are not limited to: Enesco's success in
implementing its comprehensive plan for operating improvement and
achieving its goals for cost savings and market share increases;
Enesco's success in developing new products and consumer reaction
to Enesco's new products; Enesco's ability to secure, maintain and
renew popular licenses, particularly our Cherished Teddies, Disney
and Jim Shore Designs licenses; Enesco's ability to grow revenues
in mass and niche market channels; Enesco's ability to comply with
covenants contained in its credit facility; changes in general
economic conditions, as well as specific market conditions;
fluctuations in demand for our products; manufacturing lead times;
the timing of orders and shipments and our ability to predict
customer demands; inventory levels and purchase commitments
exceeding requirements based upon forecasts; collection of accounts
receivable; changes in the regulations and procedures affecting the
importation of goods into the United States; changes in foreign
exchange rates; price and product competition in the giftware
industry; variations in sales channels, product costs or mix of
products sold; and, possible future terrorist attacks, epidemics,
or acts of war. In addition, Enesco operates in a continually
changing business environment and does not intend to update or
revise the forward-looking statements contained herein, which speak
only as of the date hereof. Additional information regarding
forward-looking statement risk factors is contained in Enesco's
reports and filings with the Securities and Exchange Commission. In
light of these risks and uncertainties, the forward-looking
statements contained herein may not occur and actual results could
differ materially from those set forth herein. Accordingly, you
should not rely on these forward-looking statements as a prediction
of actual future results.
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