Cherokee Inc. Announces New Chief Financial Officer.Business Editors VAN NUYS, Calif.--(BUSINESS WIRE)--Feb. 13, 2004 Cherokee Inc. (Nasdaq:CHKE), a leading licensor and global brand management company, today announced that Russell Riopelle has been named Chief Financial Officer succeeding Kyle Wescoat, who is leaving to pursue other opportunities. Mr. Riopelle most recently served as the Director of Corporate Finance for RSM RSM (in Britain) regimental sergeant major EquiCo, the investment banking arm of a division of H&R Block. Prior to joining RSM EquiCo, Mr. Riopelle was the Chief Financial Officer of Dorchester Capital Partners, L.P., based in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . In addition, Mr. Riopelle was a Vice President with the Investment Banking Department of Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and a Vice President in the Corporate Finance Department of Libra Investments, Inc. (now known as Libra Securities, LLC). Mr. Riopelle received his MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration in Finance from the Anderson School Anderson School may refer to:
UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX and his undergraduate degree “First degree” redirects here. For the BBC television series, see First Degree. An undergraduate degree (sometimes called a first degree or simply a degree in Economics from Harvard College. "I have known Russell for many years, and am pleased to have a financial executive of his caliber joining our team as we seek to enhance shareholder value," said Robert Margolis, Chairman and 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. . "I also want to thank Kyle for his commitment and contribution over the past two years." "The Cherokee Group is a pioneer and leader in its industry. I am excited to be a part of this dynamic team and look forward to helping Cherokee achieve its global strategies," said Russell Riopelle. Finally, Kyle Wescoat stated, "I am pleased to have been a part of Cherokee during its most successful period to date as a public company, and I wish Bobby and Cherokee all the best." About Cherokee, Inc. Cherokee Inc., based in Van Nuys, Calif., is a marketer, licensor and manager of a variety of brands it owns and represents. Currently, Cherokee has licensing agreements in a number of categories, including family apparel, fashion accessories and footwear, as well as home furnishings and recreational products. Some of Cherokee's premier clients around the world include Target Stores, Marshall Fields, Mervyn's, TJX Companies, Hearst Publications and Solara Capital (U.S.), Zellers (Canada), Carrefour and Sport Scheck (Europe), Tesco (U.K. & Ireland) and Shanghai Bolderway (China). Statements included within this news release that are not historical in nature constitute forward-looking statements for the purposes 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. provided by 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. When used, the words "anticipates," "believes," "expects," "may," "should" and similar expressions are intended to identify such forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the effect of national and regional economic conditions, the financial condition of the apparel industry and the retail industry, the overall level of consumer spending, the effect of intense competition in the industry in which the Company operates, adverse changes in licensee or consumer acceptance of products bearing the Company's brands as a result of fashion trends or otherwise, the ability and/or commitment of the Company's licensees to design, manufacture and market Cherokee and Sideout branded products, the Company's dependence on a single licensee for most of the Company's revenues, the Company's dependence on its key management personnel, and adverse determinations of claims, liabilities or litigations and the effect of a breach or termination by the Company of the management agreement with the Company's CEO. A further list and description of these risks, uncertainties and other matters can be found in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for Fiscal year 2003, and in its periodic reports on Forms 10-Q and 8-K (if any). Undue reliance should not be placed on the forward-looking statements contained herein because some or all of them may turn out to be wrong. The Company disclaims any intent or obligation to update any of the forward-looking statements contained herein to reflect future events and developments. |
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