Summer Infant Appoints Robert Stebenne as President and Chief Operating Officer
04 March 2015 - 11:30PM
Summer Infant, Inc. (Nasdaq:SUMR), a global leader in premium
juvenile products, today announced that, effective immediately,
Robert Stebenne will become the Company's new President and Chief
Operating Officer. A current Summer Infant board member, Stebenne
has 30 years of juvenile product development and marketing
experience, including 20 years in positions of increasing
responsibility at Hasbro Industries.
"For more than 30 years, Bob has been integral in developing new
products, brands and markets for some of the top companies in our
industry," said Dan Almagor, Chairman of the Board. "His steady
leadership, wealth of experience and passion for juvenile marketing
come at an important time for Summer Infant, and we are excited to
welcome him to the management team. As a longtime member of our
board of directors, Bob has a deep understanding of Summer Infant
and the strategies we are now pursuing, which will be invaluable as
we look to drive new revenue opportunities, expand into additional
markets, and improve bottom line results."
"Bob will be a tremendous asset to the management team given his
significant operating and strategic experience in our industry and
years of service to the Company," added Carol Bramson, Chief
Executive Officer. "I have enjoyed working with him both on the
board and as CEO, and I look forward to this new chapter for our
Company."
"It has been my pleasure to work with Dan, Carol, the board and
Summer Infant's entire management team for the past eight years. I
am honored to deepen those relationships as we work together to
strengthen the Company's position in the market and increase
returns to our investors," Stebenne said. "This is a company I
believe in and a market I know very well, and I am excited to join
the Summer Infant management team."
Robert Stebenne became a member of Summer Infant's Board of
Directors in 2007 and acted as the lead independent director from
2008 until 2013. He currently owns and manages Bob Stebenne
Associates, a firm that provides consulting services in the areas
of brand development, product development and strategic planning,
among other areas. From February 1999 to July 2002, Mr. Stebenne
was the President of New Business Development for Hasbro
Industries. From 1991 to January 1999, he was President of Hasbro's
FOB/LC division, where he created a U.S. marketing, sales, product
development, finance and logistics group. From 1982 to 1991, he was
President of Hasbro's Playskool Baby division. Stebenne received a
B.A. from Roger Williams University.
About Summer Infant, Inc.
Based in Woonsocket, Rhode Island, the Company is a global
leader of premium juvenile products for ages 0-3 years, which are
sold principally to large North American and international
retailers. The Company currently sells proprietary products in a
number of different categories, including nursery audio/video
monitors, safety gates, durable bath products, bed rails, nursery
products, strollers, booster and potty seats, swaddling blankets,
bouncers, travel accessories, highchairs, swings, and infant
feeding products. For more information about the Company, please
visit www.summerinfant.com.
Forward-Looking Statements
Certain statements in this release that are not historical fact
may be deemed "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and the Company intends that such
forward-looking statements be subject to the safe harbor created
thereby. These statements are accompanied by words such as
"anticipate," "expect," "project," "will," "believes," "estimate"
and similar expressions and include statements regarding the
Company's revenue opportunities and expanded markets. The Company
cautions that these statements are qualified by important factors
that could cause actual results to differ materially from those
reflected by such forward-looking statements, including the
Company's ability to develop, market and launch new products; the
Company's ability to grow sales with existing and new customers;
and other risks as detailed in the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 2013, as amended, and
subsequent filings with the Securities and Exchange Commission. The
Company assumes no obligation to update the information contained
in this release.
CONTACT: Company Contact:
Chris Witty
Investor Relations
646-438-9385
cwitty@darrowir.com
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