Printer Friendly

ROBERT GREENBERG RESIGNS AS L.A. GEAR CHAIRMAN & CHIEF EXECUTIVE OFFICER; SUCCEEDED BY STANLEY P. GOLD

 ROBERT GREENBERG RESIGNS AS L.A. GEAR
 CHAIRMAN & CHIEF EXECUTIVE OFFICER; SUCCEEDED BY STANLEY P. GOLD
 LOS ANGELES, Jan. 27 /PRNewswire/ -- Robert Greenberg announced today that he has resigned from his positions as a director and as chairman of the board and chief executive officer of L.A. Gear (NYSE: LA), effective immediately.
 Greenberg will be succeeded as chairman and chief executive officer by Stanley P. Gold, who was appointed to those positions by the board of directors. Gold is president and a managing director of Trefoil Investors, Inc., the general partner of Trefoil Capital Investors, L.P., as well as president and a managing director of Shamrock Capital Advisors, Inc., which provides management and consulting services to Trefoil and companies in which Trefoil invests, including L.A. Gear.
 Gold has served as a member of the board of directors of the company since the consummation of Trefoil's $100 million investment in L.A. Gear in September 1991.
 Greenberg said, "I fathered, nurtured and, with the help of a great many talented people, helped to develop L.A. Gear into one of America's premier lifestyle and athletic shoe companies. Last year, I recognized that we needed assistance in a number of areas. Fortunately, we were not only able to find financial partners in Trefoil, but executives who could bring to the company business acumen, accomplished track records and expertise as well. Mark Goldston, our new president, added another important dimension. With Mark's arrival and the building of the new team, I now know that my job is complete.
 "I now look forward to taking some time off. After eight years of constant involvement with L.A. Gear, I can now devote more time to my family. As a major shareholder of the company, however, I think it's safe to say that L.A. Gear will never be very far from my mind."
 Gold, newly appointed chairman and CEO, said, "In eight short years Robert built L.A. Gear from an idea into a worldwide lifestyle and athletic footwear brand. He has a great deal to be proud of, not the least of which is encouraging us to bring Mark Goldston to L.A. Gear. Mark Goldston and his team have our complete support in energizing the new L.A. Gear."
 Goldston, president and chief operating officer of the company, said, "Robert Greenberg is a true pioneer in the lifestyle and athletic footwear industry. His contributions in building L.A. Gear and to the footwear industry in general are immeasurable."
 The company also announced that Gil N. Schwartzberg has resigned as a director and as vice chairman of the company, effective immediately. Gold said that the company appreciates Schwartzberg's devotion to the company.
 The board of directors of L.A. Gear also announced that the executive committee of the board of directors has been reconstituted to consist of Gold, R. Rudolph Reinfrank and Goldston. Reinfrank will serve as chairman of the executive committee. Gold and Reinfrank have been members of the executive committee since September 1991.
 The nominating committee has also been reconstituted and now consists of Stephen A. Koffler, Robert G. Moskowitz and Goldston. Koffler will serve as chairman of the nominating committee. Moskowitz has been a member of the nominating committee since September 1991.
 -0- 1/27/92
 /CONTACT: Michael S. Sitrick or Steven D. Stern, both of Sitrick and Co., for L.A. Gear, 310-788-2850/
 (LA) CO: L.A. Gear ST: California IN: RET SU: PER


JT-MA -- NY010 -- 3536 01/27/92 08:31 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 27, 1992
Words:587
Previous Article:FIRST OF MICHIGAN CAPITAL CORPORATION REPORTS BIG EARNINGS INCREASE FOR FIRST QUARTER
Next Article:SYNERGEN AND INSITE VISION ANNOUNCE COOPERATIVE AGREEMENT TO EVALUATE ANTRIL FOR OPHTHALMIC APPLICATIONS
Topics:


Related Articles
MARQUEST MANAGEMENT CHANGES
Investment Partnership Buys Trefoil Capital Investors' Controlling Stake in L.A. Gear

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters