AMCON Appoints New Chief Executive Officer.CHICAGO -- AMCON Distributing Company ("AMCON") (AMEX AMEX See: American Stock Exchange :DIT), an Omaha, Nebraska “Omaha” redirects here. For other uses, see Omaha (disambiguation). Omaha is the largest city in the State of Nebraska, United States. It is the county seat of Douglas County.GR6 As of the 2000 census, the city had a population of 390,007. based consumer products company is pleased to announce that it has named Christopher Atayan Chief Executive Officer. William F. Wright, AMCON's founder, will continue in his role as Chairman of the Board. As previously reported, AMCON has internally reconfigured its internal management structure in a holding and operating company operating company A business that engages in transactions with outsiders. structure. The primary mission of the holding company is to focus on AMCON's broader financial issues, strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and external corporate matters. This enables AMCON's senior operating executives to focus on the competitive issues in their respective industries. "After 30 years with AMCON, and working with Chris on various projects for over 20 years, I have decided that now was the right time to pass the baton to Chris, the appropriate leader" said William F. Wright. "We have spent a considerable amount of energy at AMCON developing and implementing our new management structure. Over the course of the last seven months, we have seen that effort beginning to bear fruit. As the largest common shareholder in AMCON, I am very comfortable that the business will be vested in Chris' able hands. Chris has been closely involved with our organization since the late 1980s initially as our Investment Banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. and more recently as an Officer and Director. He and I have will continue to work collaboratively in the future on the major issues and opportunities we face as a company." "One of the things that first drew me to AMCON was the original competitive strategy, focusing on superior service, that Bill Wright had envisioned for the company, said Christopher Atayan. "We intend to continue this heritage of quality; it is an important component of our objective of realizing value for our shareholders. I have great respect for Kathy Evans and Eric Hinkefent, our two senior operating executives; they have proven their abilities for many years in a wide variety of economies and competitive conditions. Our business plan in the short and medium term is to continue to reduce debt and build our balance sheet strength while refocusing Noun 1. refocusing - focusing again focalisation, focalization, focusing - the act of bringing into focus on generating earnings growth in our core businesses. In the longer term, we will opportunistically resume AMCON's growth trajectory internally from the additions of new retail stores and wholesale branches and externally from acquisitions. We believe our value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. corporate strategy has important human resource benefits as well. AMCON's goal is to attract and retain the highest caliber executives in the industries in which we compete. Moreover, we want to be recognized as an organization where young people with talent have a bright future." AMCON is a leading wholesale distributor of consumer products, including beverages, candy, tobacco, groceries, food service, frozen and chilled foods, and health and beauty care products with distribution centers in Illinois, Missouri, Nebraska, North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N). and South Dakota South Dakota (dəkō`tə), state in the N central United States. It is bordered by North Dakota (N), Minnesota and Iowa (E), Nebraska (S), and Wyoming and Montana (W). . Chamberlin's Natural Foods, Inc. and Health Food Associates, Inc., both wholly-owned subsidiaries of The Healthy Edge, Inc., operate health and natural product retail stores in central Florida
Central Florida is the central region of the United States state of Florida, on the East Coast. (6), Kansas, Missouri, Nebraska and Oklahoma (4). The retail stores operate under the names Chamberlin's Market & Cafe and Akins Natural Foods Market. Hawaiian Natural Water Company, Inc. produces and sells natural spring water under the Hawaiian Springs label in Hawaii and other foreign markets and purified bottled water on the Island of Oahu in Hawaii. The natural spring water is bottled at the source on the Big Island of Hawaii. This news release contains forward-looking statements that are subject to risks and uncertainties and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. A number of factors could affect the future results of the Company and could cause those results to differ materially from those expressed in the Company's forward-looking statements including, without limitation, availability of sufficient cash resources to conduct its business and meet its capital expenditures needs. Moreover, past financial performance should not be considered a reliable indicator of future performance. Accordingly, the Company claims the protection of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements contained in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 with respect to all such forward-looking statements. Visit AMCON Distributing Company's web site at: www.amcon.com |
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