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Thomas W. Tusher to Retire From Levi Strauss & Co.; Peter A. Jacobi Named Successor.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 19, 1996--After more than 27 years, Thomas W. Tusher, president and chief operating officer of Levi Strauss & Co. (LS&CO.) will retire from the company on June 1, 1997.

The company's board of directors has elected Peter A. Jacobi, president of Levi Strauss International (LSI), as executive vice president and chief operating officer designate.

To ensure a smooth transition in leadership, the company said that Tusher will remain president and chief operating officer, as well as a member of its board of directors, through the end of its fiscal year which ends on Nov. 24, 1996. Similarly, Jacobi will continue as president of LSI through the fiscal year, becoming president and chief operating officer of LS&CO. effective Dec. 1, 1996.

Thereafter and until his retirement on June 1, 1997, Tusher will actively advise and consult Jacobi and the company's chairman and chief executive officer, Robert D. Haas, on business issues and transitional matters. He will also undertake travel and special projects on behalf of the company during this time.

"For nearly half of his career at LS&CO., Tom has been my partner in leading our company," said Haas. "Tom has been a valued counselor and a great source of support. He is a strategist, innovator and developer of talent. Under his leadership we have enjoyed nine straight years of record sales and set earnings records in all but one of those years. By any measure, Tom's contributions in and outside of LS&CO. have been remarkable," Haas said.

Tusher, 55, joined Levi Strauss & Co. in 1969 as corporate planning director and was named assistant to the vice president and general manager of Levi Strauss International (LSI) later that same year. He went on to hold a series of management positions in Levi Strauss International (LSI), including general manager of Australia; regional manager Australia/New Zealand; president of Northern Europe; and president of the company's European Division.

In 1976, Tusher became corporate vice president and executive vice president of LSI. In 1977, he was promoted to corporate senior vice president and president of LSI, the position he held until 1984 when he became chief operating officer. In 1989, Tusher assumed the added responsibility of president. As president and chief operating officer, Tusher chaired LS&CO.'s Global Leadership Team as well as its Presidents Forum.

"He played a pivotal role in many of our company's most significant initiatives," said Haas. "He helped shape our organization and promoted changes that set us apart from our competitors. Our evolution into a global enterprise is a reflection of Tom's unwavering vision, extensive international involvement and his deep familiarity with diverse markets," Haas said.

Tusher is chairman emeritus and a current member of the Haas School of Business advisory board at his undergraduate alma mater -- University of California at Berkeley. He also serves on the advisory committee for the National Center for the Workplace, Institute of Industrial Relations, at the same university.

Tusher is currently a director of the World Wildlife Fund, Cakebread Cellars Winery and the AMB Value Added Fund. He is a former director of both the Great Western Financial Corp. and the San Francisco Chamber of Commerce. Tusher is also a member of the Bay Area Sports Hall of Fame Committee.

Haas also said that Peter A. Jacobi, 52, will become president and chief operating officer effective Dec. 1. In the interim, Haas said the company's board of directors elected Jacobi executive vice president and chief operating officer designate. "Pete's wealth of domestic and international experience, empowering style and global vision make him eminently qualified to lead our organization," said Haas.

Jacobi joined LS&CO. in 1970 and in the ensuing years advanced through positions of increasing responsibility in production and merchandising. In 1980, he was appointed vice president of the Jeanswear division and general manager, Regular Jeans.

In 1981, Jacobi became president of LS&CO.'s Youthwear division, the position he held until 1984 when he was promoted to executive vice president of The Jeans Company and president, Men's Jeans Marketing. In 1988, Jacobi became president of Levi Strauss Europe.

Jacobi returned to his native San Francisco in 1991 as president of Global Sourcing, the post he held until being named president of LSI in 1993. As president of LSI, Jacobi serves on LS&CO.'s Global Leadership Team, Presidents Forum, the Levi Strauss & Co. Investment Committee and the Levi Strauss International Management Association.

In addition, Jacobi serves on the Board of Trustees of the New Hampton School. He is a member of the South Africa Business Development Committee. Pete is also a board member of the International Apparel Federation, the Prince of Wales Business Leaders Forum and the Levi Strauss Foundation.

He is the former president of the Southwest Apparel and Textile Manufacturers Association and served on the Board of both the Men's Fashion Association and the Textile Clothing Technology Corp. Jacobi currently sits on the Board of Advisors for both the St. Petersburg School of Management Project at the University of California at Berkeley and the University of Michigan School of Engineering.

LS&CO. is the world's largest branded apparel manufacturer with 1995 sales of $6.7 billion. The company manufactures and markets branded jeans and casual sportswear for men, women and children under the Levi's(R), Dockers(R), Brittania(R) and Slates(TM) brands, and employs about 37,500 people worldwide.

CONTACT: Levi Strauss & Co.

David Samson, 415/544-1666
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Publication:Business Wire
Date:Sep 19, 1996
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