Salton (NYSE:SFP)
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Salton, Inc. (NYSE:SFP) announced today that David C.
Sabin has decided to retire from his positions as Chairman of the
Board and Director of the Company, effective immediately. Mr. Sabin
will continue as consultant to the Company for a transition period
assisting the Company in its customer relations activities and product
development efforts.
Mr. Leonhard Dreimann, Chief Executive Officer, commented: "On
behalf of the Board of Directors and employees of Salton, we would
like to express our appreciation to David Sabin for his efforts and
significant contributions on behalf of the Company over the past 20
years. We are pleased that David has agreed to continue to assist us
in maintaining and strengthening our relationships with existing and
new customers."
About Salton, Inc.
Salton, Inc. is a leading designer, marketer and distributor of
branded, high-quality small appliances, electronics, home decor and
personal care products. Its product mix includes a broad range of
small kitchen and home appliances, electronics for the home, tabletop
products, time products, lighting products, picture frames and
personal care and wellness products. The Company sells its products
under a portfolio of well recognized brand names such as Salton(R),
George Foreman(R), Westinghouse (TM), Toastmaster(R), Melitta(R),
Russell Hobbs(R), Farberware(R), Ingraham(R) and Stiffel(R). It
believes its strong market position results from its well-known brand
names, high-quality and innovative products, strong relationships with
its customer base and its focused outsourcing strategy.
Certain matters discussed in this press release are
forward-looking statements that are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those set forth in the forward-looking statements. These factors
include: Salton's ability to realize the benefits it expects from its
U.S. restructuring plan; Salton's substantial indebtedness and
restrictive covenants in Salton's debt instruments; Salton's ability
to access the capital markets on attractive terms or at all; Salton's
relationship and contractual arrangements with key customers,
suppliers and licensors; pending legal proceedings; cancellation or
reduction of orders; the timely development, introduction and customer
acceptance of Salton's products; dependence on foreign suppliers and
supply and manufacturing constraints; competitive products and
pricing; economic conditions and the retail environment; international
business activities; the risks related to intellectual property
rights; the risks relating to regulatory matters and other risks and
uncertainties detailed from time to time in Salton's Securities and
Exchange Commission Filings.