CLAYTON E. MEDLEY LEAVING MOVIE STAR, INC.NEW YORK, NY--(BUSINESS WIRE)--May 9, 1996--MOVIE STAR, INC. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :MSI) today announced that in connection with the Company's continuing overall restructuring and cost reduction programs, it has eliminated the position of President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. held by Clayton E. Medley. Mr. Medley has also resigned as a director of Movie Star. Mr. Medley, who joined the Company is 1978, had been President & COO since the end of 1987. According to Mark M. David, Movie Star's Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "One of Clay's principal responsibilities was domestic plant production. During the past six years, the Company closed 17 domestic facilities. Today we only operate three, as overseas sourcing production continues to increase. As a result, Clay's day-to-day operating responsibilities were diminishing. Clay remains a valued friend and on behalf of all of us at Movie Star, we wish him every happiness and success." MOVIE STAR, INC. produces and sells ladies sleepwear, robes, leisurewear, loungewear, panties pant·ie or pant·y n. pl. pant·ies Short underpants for women or children. Often used in the plural. [Diminutive of pant2. and daywear and also operates 25 retail outlet stores. CONTACT: Movie Star, Inc. Saul Pomerantz, CFO See Chief Financial Officer. , (212) 684-3400 or INVESTOR RELATIONS COUNSEL: The Equity Group Inc. Linda Latman, (212) 836-9609 |
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