Schiff Nutrition International Appoints Tarang Amin as CEO
18 2월 2011 - 10:30PM
Business Wire
Schiff Nutrition International, Inc., (NYSE:WNI), announced its
board of directors has appointed Tarang Amin as CEO, president and
director, effective March 7, 2011. Amin will replace Bruce Wood,
CEO, president and director, who will retire effective March 7,
2011 following nearly 12 years of distinguished service to the
company.
Eric Weider, chairman of the board of Schiff Nutrition, stated,
“Bruce has provided invaluable leadership during his tenure. His
focus on quality products, brand reputation and his passion for our
industry has been instrumental in our success and he leaves the
company with a solid foundation for growth. We are delighted to
welcome Tarang Amin to our team. Tarang has a demonstrated track
record of creating value and driving growth in his leadership roles
at world-class consumer product companies, including Clorox and
Procter & Gamble. His vision and success in the consumer goods
industry will be key assets for leading Schiff into the
future.”
Schiff Nutrition board member and managing partner of TPG
Growth, William E. McGlashan, Jr., said, “Schiff Nutrition is
poised to benefit from Tarang’s strong track record of driving
significant growth in some of the best known national and global
brands. We believe the company is well positioned to take advantage
of industry consolidation and pursue new product development in an
expanding category. TPG is committed to deepening its partnership
with the company as we create value together. This change is just
one of many exciting developments at Schiff and we look forward to
working closely with Tarang.”
Tarang Amin stated, “I am very enthusiastic about Schiff’s
future growth prospects and look forward to working with the team.
Schiff has a strong brand and I am excited about the opportunity to
implement strategies for continued profitable growth, including
channel and product expansion.”
Amin, 45, brings 20 years of consumer products experience to
Schiff. Throughout his career, he has demonstrated a track record
of driving profitable growth. Most recently he served as vice
president – general manager of The Clorox Company, where he grew
the Litter, Food and Charcoal Strategic Business Units from $1.1
billion to $1.5 billion in sales. In this position, he was
responsible for the leadership and P&L of a brand portfolio
that included Kingsford®, Hidden Valley® and Fresh Step®, the
growth of which significantly contributed to the overall growth of
The Clorox Company. He also served in vice president roles leading
Cleaning Division marketing and Global Health and Wellness. In his
roles at Clorox, Amin led initiatives which helped to double sales
of the Clorox franchise. Prior to joining Clorox, Amin worked for
12 years at Procter & Gamble, where he held management
positions in Beauty Care and Family Care. While at Procter &
Gamble, he helped to grow the Pantene brand from $50 million to $2
billion and to grow sales of the Bounty brand by $300 million. Amin
holds a bachelor's degree in international policy and a master's
degree in business administration from Duke University.
About Schiff Nutrition
Schiff Nutrition International, Inc. develops, manufactures,
markets and distributes branded and private label vitamins,
nutritional supplements and nutrition bars in the United States and
throughout the world. Schiff’s portfolio of well-known brands
includes Move Free®, Schiff® Vitamins, MegaRed®, Mega-D3™, Tiger's
Milk® and Fi-Bar®. To learn more about Schiff, please visit the web
site www.schiffnutrition.com.
Forward-Looking Statements
This press release contains 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 that are based
on management’s beliefs and assumptions, current expectations,
estimates, and projections. These statements are subject to known
and unknown risks and uncertainties, certain of which are beyond
the company’s ability to control or predict, and therefore, actual
results may differ materially. Any forward-looking statements are
made pursuant to the Private Securities Litigation Reform Act of
1995 and, as such, speak only as of the date hereof. Schiff
Nutrition disclaims any obligation to update any forward-looking
statements whether as a result of new information, future events or
otherwise. You are cautioned not to place undue reliance on these
forward-looking statements.
Important factors that may cause actual results of Schiff
Nutrition to differ materially from those expressed or implied by
such forward-looking statements include, but are not limited to:
the level of customer and consumer acceptance of Move Free
Advanced, MegaRed, and other branded products, the inability to
gain or maintain market distribution for MegaRed or other new
products, the entry of new branded and private label krill oil
products into the market, the inability to successfully implement
marketing and spending programs behind our Move Free, MegaRed and
other branded products, the impact of raw material pricing
(particularly relative to joint care products), availability
(particularly relating to the limited number of krill oil
suppliers), quality (particularly relating to joint care products
and ingredients from suppliers outside the United States, including
China) and potency, the mix between branded and private label
products, the inability to grow or maintain branded and private
label sales and/or margins in an increasingly competitive
environment, the inability to successfully bid on new and existing
private label business, litigation and government or administrative
regulatory action in the United States and internationally,
including FDA enforcement and challenges to marketing, advertising
or product claims, adverse publicity regarding our nutritional
supplements and/or their ingredients or the dietary supplement
industry generally, the inability to enforce or protect our
intellectual property rights against infringement, the inability to
achieve cost savings and operational efficiencies, the inability to
increase operating margins and increase revenues, dependence on
individual products, dependence on individual customers, the impact
of competitive products and pricing (including private label),
market and industry conditions (including pricing, demand for
products and level of trade inventories), the impact of clinical
studies regarding our products or other nutritional supplements,
particularly relating to the joint care category, the success of
product development, the inability to obtain customer acceptance of
new product introductions, changes in laws and regulations, the
inability or increased cost to comply with or maintain good
manufacturing practices for the dietary supplement industry, the
inability or increased cost to obtain product liability and general
insurance, the uncertainty of market acceptance of new products,
the inability to find strategic transaction opportunities or the
inability to successfully consummate or integrate a strategic
transaction, changes in accounting standards, and other factors
indicated from time to time in the company’s SEC reports, copies of
which are available upon request from the company’s investor
relations department or may be obtained at the SEC's web site
(www.sec.gov). These risks and
uncertainties should be carefully considered before making an
investment decision with respect to shares of our common stock.
Schiff Nutrit (NYSE:WNI)
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