Yankee Candle Appoints Michael Archbold to Board of Directors
04 May 2005 - 9:00PM
Business Wire
The Yankee Candle Company, Inc. ("Yankee Candle" or the "Company")
(NYSE:YCC), the leading designer, manufacturer, wholesaler and
retailer of premium scented candles, today announced that Michael
Archbold has been appointed to the Company's Board of Directors.
Mr. Archbold is currently Executive Vice President and Chief
Financial Officer of AutoZone, Inc., a leading retailer of
automotive parts and accessories. "We are very pleased to be able
to add Michael Archbold to our Board of Directors," said Craig W.
Rydin, Chairman and Chief Executive Officer of Yankee Candle. "Mike
brings to the Board a wealth of financial, management and business
experience and expertise. Moreover, his extensive retail experience
as Chief Financial Officer at an industry-leading retailer such as
AutoZone, and previously in various financial leadership roles with
another leading retailer in Barnes & Noble, make him an ideal
fit for our Board. We look forward to Mike's contributions, which
will further increase the ability of our Board to provide the type
of strong financial guidance and oversight that is essential in
today's environment." Mr. Archbold joined AutoZone, Inc. in 2002 as
Senior Vice President and Chief Financial Officer and was promoted
to his current position as Executive Vice President and Chief
Financial Officer in 2004. Prior to joining AutoZone, Mr. Archbold
held various financial leadership positions of increasing
responsibility with Barnes & Noble, Inc. from 1996-2002, and
served as Vice President and Chief Financial Officer of Barnes
& Noble's Booksellers Division from 2000-2002. Prior to Barnes
& Noble, Mr. Archbold served in various financial positions,
including Assistant Controller, with Woolworth Corporation (now
Foot Locker, Inc.) from 1988 to 1996. "I am excited to become a
Director of Yankee Candle, an industry-leading company with a
strong brand and proven track record of sustained and profitable
growth," said Mr. Archbold. "I look forward to working with the
Company's management team and my colleagues on the Board to
continue to leverage the Yankee Candle brand and further build upon
the Company's record of success." Mr. Archbold's appointment fills
the vacancy resulting from the recent resignation of Robert R.
Spellman from the Board. With Mr. Archbold's appointment, Yankee
Candle's Board of Directors is comprised of eleven members, ten of
whom are deemed "independent" as defined pursuant to applicable New
York Stock Exchange rules. Mr. Archbold was also named to the
Company's Audit Committee. About The Yankee Candle Company, Inc.
The Yankee Candle Company, Inc. is the leading designer,
manufacturer, wholesaler and retailer of premium scented candles in
the giftware industry. Yankee has a 35 year history of offering
distinctive products and marketing them as affordable luxuries and
consumable gifts. The Company sells its products through a North
American wholesale customer network of approximately 16,100 store
locations, a growing base of Company owned and operated retail
stores (357 located in 42 states as of April 2, 2005), direct mail
catalogs, its Internet website (www.yankeecandle.com),
international distributors and to a European wholesale customer
network of approximately 2,000 store locations (through its
distribution center located in Bristol, England). This press
release may contain certain information constituting
"forward-looking statements" for purposes of the safe harbor
provisions of The Private Securities Litigation reform Act of 1995.
Forward-looking statements include but are not limited to any
statements concerning the Company's or management's plans,
objectives, goals, strategies, expectations, estimates, beliefs or
projections, or any other statements concerning future performance
or events. Actual results could differ materially from those
indicated by these forward-looking statements as a result of
various risks and uncertainties, including but not limited to the
following: the current economic conditions in the United States as
a whole and the continuing weakness in the retail environment; the
risk that we will be unable to maintain our historical growth rate;
the effects of competition from others in the highly competitive
giftware industry; our ability to anticipate and react to industry
trends and changes in consumer demand; our dependence upon our
senior executive officers; the risk of loss of our manufacturing
and distribution facilities; the impact on our stock price of
seasonal, quarterly and other fluctuations in our business; and
other factors described or contained in the Company's most recent
Quarterly Report on Form 10-Q or Annual Report on Form 10-K on file
with the Securities and Exchange Commission. Any forward-looking
statements represent our views only as of today and should not be
relied upon as representing our views as of any subsequent date.
While we may elect to update certain forward-looking statements at
some point in the future, we specifically disclaim any obligation
to do so even if experience or future events may cause the views
contained in any forward-looking statements to change.
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