Ashworth, Inc. (NASDAQ: ASHW), a leading designer ofgolf-inspired lifestyle sportswear, today announced that Winston E.Hickman has been appointed executive vice president and chieffinancial officer, effective February 23, 2006. In this role, Mr.Hickman will be a key member of Ashworth's Executive management teamwith responsibility for all finance, administrative and IT relatedfunctions. He will report directly to Randall L. Herrel, Sr.,Ashworth's chairman, president and chief executive officer.
Mr. Herrel stated, "Winston is a highly regarded professional witha successful career that encompasses all facets of finance at publicand private corporations across a broad range of industries, includingapparel. He brings strong financial and operational skills to thisposition and I am confident that his extensive financial expertise andproven leadership capabilities will be invaluable as we continue toexplore strategic alternatives to enhance shareholder value andexecute on our strategy to improve the company's operational andfinancial performance."
Mr. Hickman most recently served as executive vice president andchief financial officer of REMEC, Inc., a NASDAQ-listed designer andmanufacturer of advanced wireless subsystems used in commercial anddefense communications applications. At REMEC, he served as a memberof the executive management team and played an integral role in thesuccessful strategic sale of the company via a series of asset saletransactions, the last of which occurred in September 2005. Mr.Hickman joined REMEC in 2003 from privately-held Paradigm WirelessSystem, Inc. where, beginning in 2000, he was an investor, chieffinancial officer and a member of the board of directors. He played akey role in the successful sale of the company to REMEC.
Mr. Hickman has also served as board member, chief financialofficer, and financial advisor to a number of public and privatecompanies. Mr. Hickman served as chief financial officer of PacificScientific Company, a NYSE-listed company with sales in excess of $300million, where he provided the financial leadership for the company'sfinancial turnaround and successful strategic sale following a hostiletakeover bid. Prior to Pacific Scientific, he held senior financialpositions at Rockwell International, Allied-Signal, and Vans, Inc. Hecurrently serves as a member of the board of directors of SRS Labs,Inc., a NASDAQ-listed company, where he is Chairman of the AuditCommittee.
Mr. Hickman, 63, holds an M.B.A. from the University of SouthernCalifornia and a B.A. from California State University, Long Beach.
About Ashworth, Inc.
Ashworth, Inc. is a designer of men's and women's golf-inspiredlifestyle sportswear distributed domestically and internationally ingolf pro shops, resorts, upscale department and specialty stores andto corporate customers. Ashworth products include three main brandextensions. Ashworth Collection(TM) is a range of upscale sportsweardesigned to be worn on and off course. Ashworth Authentics(TM)showcases popular items from the Ashworth line. Ashworth WeatherSystems(R) utilizes technology to create a balance between fashion andfunction in a variety of climatic conditions. Callaway Golf is atrademark of Callaway Golf Company. Ashworth, Inc., 2765 Loker AvenueWest, Carlsbad, CA 92008 is an Official Licensee of Callaway GolfCompany.
In July 2004, Ashworth, Inc. acquired Gekko Brands, LLC ("Gekko"),a leading designer, producer and distributor of headwear and apparelunder The Game(R) and Kudzu(R) brands. This strategic acquisitionprovides opportunity for additional growth in three new, qualitychannels of distribution for the Ashworth(R) and Callaway Golf apparelbrands as well as further growth from The Game(R) and Kudzu(R) brands'sales into the Company's three current distribution channels. TheGame(R) brand products are marketed primarily under licenses to over1,000 colleges and universities, as well as to the PGA TOUR, resorts,entertainment complexes and sporting goods dealers that serve the highschool and college markets. The Game(R) brand is one of the leadingheadwear brands in the College/Bookstore distribution channel. TheKudzu(R) brand products are sold into the NASCAR/racing markets andthrough outdoor sports distribution channels, including fishing andhunting.
To learn more, please visit our Web site at www.ashworthinc.com.