Printer Friendly

GRUEN MARKETING CORPORATION BOARD ANNOUNCES PERSONNEL CHANGES

 EXETER, Pa., Nov. 4 /PRNewswire/ -- Gruen Marketing Corporation, a leading importer of watches, today reported that its Board of Directors, as part of its review of the company's operations, has determined that a change in the senior management leadership of Gruen will best serve the company. Accordingly, the Board has named Ed S. Mangiafico, a highly experienced executive with a strong operating and retailing background, as Chairman and Chief Executive Officer of Gruen, succeeding Seymour Holtzman. Mr. Mangiafico's appointment ends Mr. Holtzman's involvement with the management and Board of Directors of Gruen.
 The company stated, "Gruen's product lines are among those with the greatest brand recognition in the industry. A key business objective is to take advantage of this strong recognition as well as the company's sound marketing and financial condition to expand Gruen's growth potential. The retail marketplace represents a critical channel for our products. With Ed Mangiafico now heading up the Gruen management team, we have strengthened our ability to utilize Gruen's competitive resources in building its market position."
 Mr. Mangiafico stated, "I am extremely excited by this opportunity. Gruen is a company with a very well regarded brand name. It has both the financial and operating capabilities to build its market position and, in so doing, expand its distribution. I look forward to building Gruen's business for the benefit of the company's customers, employees and investors."
 Mr. Mangiafico has worked extensively since 1953 with retailers and manufacturers. In addition to most recently being a consultant to both retailers and merchandisers for Deloitte & Touche, Mr. Mangiafico served as chairman of the May Company, California from 1983 through 1991. Prior to that he joined Hecht Company in 1976 holding a number of key senior management assignments, including the position of chairman from 1980 to 1983. He was vice president of operations of G Fox from 1974 to 1976 and, prior to that, worked for twenty-one years in various operating and store management positions with Rich's Department Store in Atlanta, Georgia.
 -0- 11/4/93
 /CONTACT: Robert D. Siegfried or Mickey Mandelbaum of Kekst and Company, 212-593-2655/


CO: Gruen Marketing Corporation ST: Pennsylvania IN: SU: PER

WB -- NY119 -- 0968 11/04/93 17:15 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 4, 1993
Words:365
Previous Article:PROPERTY TRUST OF AMERICA FILES PUBLIC OFFERING OF 8,000,000 SERIES A PREFERRED SHARES OF BENEFICIAL INTEREST
Next Article:FIELDCREST CANNON EXTENDS TENDER OFFER FOR AMOSKEAG COMPANY TO NOV. 24
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters