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ENC Enesco Grp.

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Share Name Share Symbol Market Type
Enesco Grp. NYSE:ENC NYSE Ordinary Share
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Enesco Announces Retirement of Enesco Limited Chairman; John Hammond, Head of Enesco's European Subsidiary, Retires After 30 Yea

05/07/2005 10:04pm

Business Wire


Enesco (NYSE:ENC)
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Enesco Group, Inc. (NYSE:ENC), a leader in the giftware, and home and garden decor industries, today announced John Hammond, Chairman and Director of Enesco Limited, a wholly-owned European subsidiary of Enesco Group, Inc., is retiring after 30 years with Enesco Limited. His retirement will become effective on July 6, 2005, at which time Mr. Christophe Jeannin from Keystone Consulting Group will act as interim Managing Director until a new a permanent leadership structure is announced. The interim leadership team also includes Lawrence Jennings, Chief Operating Officer and Ken Johnson, Executive Vice President "On behalf of the employees at Enesco Group, Inc. and Enesco Limited, I want to thank John Hammond for his leadership and dedication that allowed Enesco to expand into the European marketplace," said Cynthia Passmore-McLaughlin, president and CEO for Enesco. "We are saddened to see him leave, but wish him all the best as he enjoys his retirement. I am confident with the seasoned interim leadership team at Enesco Limited and will announce a permanent structure in the coming months." About Enesco Group, Inc. Enesco Group, Inc. is a world leader in the giftware, and home and garden decor industries. Serving more than 40,000 customers globally, 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 Europe, Canada, Australia, Mexico, Asia and the Pacific Rim. 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. The Company's product lines include some of the world's most recognizable brands, including Heartwood Creek by Jim Shore, Walt Disney Company, Walt Disney Classics Collection, Pooh & Friends, Nickelodeon, Bratz, Halcyon Days, Lilliput Lane and Border Fine Arts, among others. Further information is available on the Company'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. The Company 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: the Company's success in developing new products and consumer reaction to the Company's new products; the Company's ability to secure, maintain and renew popular licenses, particularly our licenses Cherished Teddies, Heartwood Creek and Disney; the Company's ability to grow revenues in mass and niche market channels; the Company's ability to comply with covenants contained in its credit facility; the Company's ability to effectively transition to the legacy information system; 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 incorrect 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, the Company 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 the Company'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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