A.C. Moore Reports Departure of Marc Katz
AC Moore ArtsCrafts zu myNews hinzufügen Was ist das?
A.C. Moore Arts & Crafts, Inc. (Nasdaq:ACMR) today announced the
resignation of Marc Katz, anticipated to be effective June 27, 2008, as
Executive Vice President and Chief Financial Officer in order to pursue
a career opportunity in the private equity sector.
Rick A. Lepley, Chief Executive Officer, said, "We
appreciate Marc’s many contributions to A.C.
Moore. We were fortunate to have him here to help us through the early
part of this turnaround and we wish him success as he has been presented
with another great opportunity. We have developed an extremely capable
team and we feel certain that they will ensure a smooth transition.” "It has been a pleasure to work with everyone
at A.C. Moore and to have been a part of the first phase in the Company’s
turnaround,” said Mr. Katz. "I
believe the Company is positioned well for the future and I am confident
about the Company’s long-term growth and
success.”
The Company will conduct a search for a new Chief Financial Officer and
will consider both internal and external candidates. In the interim, the
Company has named Michael G. Zawoysky, Vice President of Financial
Planning and Analysis, as Acting Chief Financial Officer and has named
Rodney B. Schriver, Vice President and Controller, as Principal
Accounting Officer.
Prior to joining A.C. Moore in March 2007, Mr. Zawoysky served in
various financial positions with Foot Locker, Inc., the national
specialty athletic retailer, most recently as Executive Vice President
and Chief Financial Officer of Foot Locker Europe and Chief Operating
Officer and Chief Financial Officer of FootLocker.com.
Mr. Schriver, A.C. Moore’s Controller since
July 2004, was promoted to Vice President and Controller in March 2007.
Prior to joining A.C. Moore, Mr. Schriver served as Vice President and
Assistant Controller of Charming Shoppes, Inc., a national specialty
retailer, from 1989 to 2004.
About A.C. Moore:
A.C. Moore is a specialty retailer of arts, crafts and floral
merchandise for a wide range of customers. The Company currently serves
customers through its 139 stores located in the Eastern United States
from Maine to Florida and nationally via its e-commerce site, www.acmoore.com.
For more information about A.C. Moore, visit our website at www.acmoore.com.
This press release contains statements that are forward-looking
within the meaning of applicable federal securities laws and are based
on the Company’s current expectations and
assumptions as of this date. The Company undertakes no obligation
to update or revise any forward-looking statement whether as the result
of new developments or otherwise. These statements are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. Factors that could
cause actual results to differ from those anticipated include, but are
not limited to, the Company’s ability to
implement its business and operating initiatives to improve
profitability, how well the Company manages its growth, customer demand
and trends in the arts and crafts industry, inventory risks, the effect
of economic conditions and gasoline prices, the impact of
unfavorable weather conditions, the impact of competitors’
locations or pricing, difficulties with respect to new system
technologies, difficulties in implementing measures to reduce costs and
expenses and improve margins, supply constraints or difficulties, the
effectiveness of and changes to advertising strategies, difficulties in
determining the outcome and impact of litigation, the accuracy of and
changes in assumptions for estimated costs for the settlement of lease
liabilities and related costs and the non-cash fixed asset impairment,
timing in execution of the Company’s real
estate strategy, the outcome of negotiations with landlords and other
third parties in executing the real estate strategy, the impact of the
threat of terrorist attacks and war, the Company’s
ability to maintain an effective system of internal control over
financial reporting, risks related to the Company’s
recent restatement and other risks detailed in the Company’s
Securities and Exchange Commission filings.
