Cummer Infant Wrts (MM) (NASDAQ:SUMRW)
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From Jun 2019 to Jun 2024
Summer Infant, Inc. (“Summer Infant”
or the “Company”)
(Nasdaq: SUMR, SUMRW) today announced that Jason Macari, Chief Executive
Officer of Summer Infant has been appointed Chairman of the Board of
Summer Infant. Mr. Macari replaces Dr. Marlene Krauss as Chairman of the
Board following her resignation as a Director and the Chairman of the
Board effective as of October 20, 2008. The Company also announced that
Bob Stebenne was approved as the new lead independent director. The
Board will immediately begin searching for an additional independent
director.
“I am very excited about taking on the
additional role of Chairman of the Board. We would like to thank Dr.
Krauss for her dedication and commitment to Summer Infant, as she has
been a key resource in taking our Company to the next level,”
commented Jason Macari, Chief Executive Officer and Chairman of the
Board of Summer Infant.
“I am proud of Summer Infant’s
significant accomplishments over the past year and a half as a public
company,” stated Dr. Krauss. “Now
that KBL has successfully transitioned the company to the public markets
and a sustainable growth path has been set, I decided to resign in order
to focus on other business opportunities. I am confident that the
operational expertise and resources within the Company and the Board,
led by Jason Macari, will continue to provide a solid foundation for
building the business and executing the growth strategy in the years
ahead.”
About Summer Infant, Inc.
Based in Woonsocket, Rhode Island, the Company is a designer, marketer
and distributor of branded durable juvenile health, safety and wellness
products (for ages 0-3 years), which are sold principally to large U.S.
retailers. The Company currently sells proprietary products in a number
of different categories, including nursery audio/video monitors, safety
gates, durable bath products, bed rails, infant thermometers and related
nursery, health and safety products, booster and potty seats, soft
goods, bouncers, strollers, travel accessories, highchairs and swings.
Forward Looking Statements
Certain statements in this release that are not historical fact may be
deemed “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995, and the Company intends that such forward-looking statements be
subject to the safe harbor created thereby. These statements are
accompanied by words such as "anticipate," "expect," "project," "will,"
"believes," "estimate" and similar expressions. The Company cautions
that these statements are qualified by important factors that could
cause actual results to differ materially from those reflected by such
forward-looking statements. Such factors include the concentration of
the Company’s business with retail customers;
the ability of the Company to compete in its industry; the Company’s
dependence on key personnel; the Company’s
reliance on foreign suppliers; the costs associated with pursuing and
integrating strategic acquisitions; and other risks as detailed in the
Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2007, and subsequent filings with the
Securities and Exchange Commission. The Company assumes no obligation to
update the information contained in this presentation.