American CinemaStores, Inc. Names Kathy Van Ness as New President & CEO.LOS ANGELES--(BUSINESS WIRE)--June 25, 1997--American CinemaStores, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACSI ACSI Association of Christian Schools International ACSI American Customer Satisfaction Index ACSI Association Canadienne des Sciences de l'Information (French) ACSI American Communications Services, Inc. ), announced today the appointment of Ms. Kathy Van Ness as the new President and Chief Executive Officer for ACSI. Ms. Van Ness brings more than 25 years of apparel industry executive management experience to the Company. Most recently she was President of wholesale businesses of Authentic Fitness Corporation (NYSE NYSE See: New York Stock Exchange :ASM (1) (Association for Systems Management) An international membership organization based in Cleveland, Ohio. Founded in 1947 and disbanded in 1996, it sponsored conferences in all phases of administrative systems and management. ), where she managed 80% of ASM's revenues in brands such as Speedo, Anne Cole, and Catalina until July 1996. Prior to ASM, Ms. Van Ness was General Manager/Vice President for the publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. V.F. Corporation's Jantzen Division, and President of White Stag, division of Warnaco, also a publicly traded company, (NYSE:WAC WAC (Women's Army Corps), U.S. army organization created (1942) during World War II to enlist women as auxiliaries for noncombatant duty in the U.S. army. Before 1943 it was known as the Women's Auxiliary Army Corps (WAAC). Its first director was Oveta Culp Hobby. ). Included in her extensive experience in wholesale apparel management is eighteen years of retailing with Federated Connected and treated as one. See federated database and federated directories. Department Stores (NYSE:FD), Burdines Division. A spokesperson for First Fidelity Capital, Inc. (Fidelity), the investment banking firm participating in the restructuring of ACSI, stated: "We are extremely pleased that an executive of Ms. Van Ness' stature has agreed to spearhead the development of ACSI as an apparel company. Her proven management skills exactly fit the requirements of ACSI, with the recent acquisition of Susan Burrowes, Ltd. acting as the core for planned acquisitions of related companies. Ms. Van Ness not only has extensive managerial experience in the apparel industry, but also in running a publicly traded company. During her tenure at ASM, the stock price increased from $7.50 to $30.00 per share, reflecting increased earnings, higher revenues and tighter cost controls." Ms. Van Ness stated: "I am pleased to have this opportunity to take ACSI further within the apparel industry with the financing having been made available by Fidelity. This funding in conjunction with the ACSI acquisition of Susan Burrowes provides an excellent base for expansion." Christopher Ebert, who had been serving as interim President, continues as Chief Financial Officer for ACSI. Further steps in the turn around of ACSI will be announced shortly. CONTACT: ACSI Christopher Ebert, 213/725-4955 or Fidelity Christina Nable, 310/276-2255 |
|
|||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion