CONVERSE EXPANDS BOARD OF DIRECTORS.NORTH READING, Mass.--(BUSINESS WIRE)--December 16, 1994-- Converse Inc. (NYSE NYSE See: New York Stock Exchange :CVE (Common Vulnerabilities and Exposures) A list of information security exposures and vulnerabilities sponsored by US-CERT and maintained by the MITRE Corporation. ) today announced that Michael C. Bell, Donald J. Barr, Robert H. Falk and John H. Kissick have been elected to the Company's Board of Directors. The appointments increase the size of the Board to 11 members. Mr. Bell, 41, has served as President of Converse since September 1994. He has been an employee of Converse for over 17 years, involved in a variety of management positions. Mr. Barr, 59, has served as Executive Vice President of Time Inc. since September 1990, where he has been an employee for 37 years. Prior to 1990, he was publisher of Sports Illustrated Sports Illustrated is the largest weekly American sports magazine owned by media conglomerate Time Warner. It has over 3 million subscribers and is read by 23 million adults each week, including over 18 million men, 19% of the adult males in the country. for five years. Mr. Falk, 56, has been an officer of Apollo Capital and Lion Capital Lion Capital can refer to:
Mr. Kissick, 52, has served as an officer of Lion Capital Management, Inc. and as a consultant to Apollo Capital since 1991. He is also on the Boards of Directors of INTERCO INTERCO International Code of signals INTERCO International Council on Jewish Social and Welfare Services INCORPORATED, The Florsheim Shoe Company, Family Restaurants, Inc. and Williamhouse-Regency of Delaware, Inc. Mr. Kissick has held positions with Kissick & Associates and Drexel Burnham. The Company stated that, as previously announced on November 23, Julius Erving was also appointed to the Converse Board of Directors. Mr. Erving, 44, has been a Converse endorser since 1975 and was a member of the Philadelphia 76'ers basketball team until his retirement in 1987. He is part owner of the Philadelphia Coca Cola Bottling Company and Television Station WKBW WKBW Wimpy Kitty Baby Whiners (movie Bruce Almighty) , Buffalo, NY, and is a director of the Meridian Bancorp, Inc. Commenting on the announcement, Gib Ford, Chairman of the Board and Chief Executive Officer, stated, "We are pleased to have Mickey, Don, Robert, John and Julius join our Board of Directors. Their broad experience and industry knowledge will make a valuable contribution to Converse as we continue to focus on long-term initiatives for future growth and enhanced shareholder value as a 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. ." Converse common stock commenced trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. on November 21, 1994. Converse shares were distributed to the shareholders of record of Interco Inc. common stock as of November 17, 1994, on the basis of one share of Converse for every three shares of Interco common stock held. Converse Inc., the largest U.S. manufacturer of athletic shoes, is a leading designer, manufacturer and marketer of high quality athletic and leisure footwear and is a licensor of sports apparel and accessories that are distributed worldwide through over 9,000 athletic specialty, sporting goods, department and shoe stores. CONTACT: Converse Inc., North Reading
Donald J. Camacho, 508/664-1100 (investor)
Jennifer C. B. Murray, 508/664-1100 (media)
or
Morgen-Walke Associates
Robert Jones/Christine DiSanto (investor)
Stacy Berns (media), 212/850-5600
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