KANNAPOLIS, N.C., June 12 /PRNewswire-FirstCall/ - Pillowtex Corporation
(OTC Bulletin Board: PTEXQ) today announced that David Perdue, currently
executive vice president of Reebok International Inc. and president and CEO of
Reebok Brand, will be appointed its new chairman and chief executive officer.
Perdue officially joins employees at Pillowtex's Kannapolis, N.C.,
headquarters on July 1.
(Photo: http://www.newscom.com/cgi-bin/prnh/20020612/CHW025 )
"David has demonstrated outstanding leadership, marketing and branding
skills throughout his 30-year career," said Ralph LaRovere, interim chairman
of the Pillowtex board of directors. "We conducted an extensive search to
find a leader with the appropriate mix of experience, operational expertise
and vision. David has the multifunctional skills, the commitment and the
results-oriented style we are looking for to lead our Company."
Perdue first joined Reebok International in 1998 as senior vice president
of global operations and played an integral part in Reebok's turnaround. He
quickly moved through the corporate ranks and was part of a small team
credited with the Reebok brand turnaround. He was not only integrally
involved in Reebok's marketing, but in all aspects of the brand, including
product development, sales, manufacturing, sourcing, supply chain, and
"A significant component of Pillowtex's business strategy involves
building brands and global relationships," continued LaRovere. "David's
insight and expertise in this arena will prove invaluable." Prior to Reebok,
Perdue was senior vice president of global operations for Haggar, a classic
apparel company, and before joining Haggar he was managing director and senior
vice president of Asian operations for Sara Lee. At both Haggar and Sara Lee,
Perdue was involved in creating supply chain innovations and streamlining
Perdue began his career with a 12-year stint at Kurt Salmon Associates, an
international management consulting firm specializing in retail and consumer
"Joining Pillowtex is a tremendous opportunity and an exciting challenge,"
said Perdue. "The Company has premier brands and a heritage of quality and
industry leadership. I see great potential for its growth and success going
forward." Perdue added that his primary goal is to "establish the Company as
the textile industry's foremost provider of branded, high-quality products."
Pillowtex Corporation successfully emerged from Chapter 11 bankruptcy in
May 2002. The Company's 18-month reorganization process resulted in a more
solid financial position and a clear strategy for the future. "We see many
parallels between David's experience in the apparel industry and challenges in
the textile industry, specifically with Pillowtex," said LaRovere. "He has
proven his ability to motivate and instill teamwork among his employees and
clearly understands the dynamics of a variety of industries."
As stated in the Company's Plan of Reorganization, which was confirmed by
the U.S. Bankruptcy Court for the District of Delaware on May 1, Perdue will
replace LaRovere as chairman of the board. Included among the management team
reporting to Perdue will be Tony Williams, president and chief operating
officer. "I'm most impressed with the deliberate and methodical approach
executed by the Company's management team throughout its bankruptcy
reorganization," said Perdue. "The positive course set by this group for the
future provides an excellent foundation from which to build."
Russell Reynolds Associates, a global executive search and management
assessment firm, conducted the nationwide search for a chief executive officer
on behalf of Pillowtex.
Additional Background on David Perdue
Perdue earned a B.S. degree in Industrial Engineering and an M.S. degree
in Operations Research from Georgia Institute of Technology, Atlanta, Ga. He
is a member of the Georgia Tech Advisory Board and a member of the Georgia
Tech Academy of Distinguished Alumni. Perdue is also a director of Alliant
Energy Corporation, an energy-service provider headquartered in Madison, Wis.
Pillowtex Corporation, with corporate offices in Kannapolis, N.C., is one
of America's leading producers and marketers of household textiles including
towels, sheets, rugs, blankets, pillows, mattress pads, feather beds,
comforters and decorative bedroom and bath accessories. The Company's brands
include Cannon, Fieldcrest, Royal Velvet, Charisma and private labels.
Pillowtex currently employs approximately 8,300 people in its network of
manufacturing and distribution facilities in the United States and Canada.
MAKE YOUR OPINION COUNT - Click Here
SOURCE Pillowtex Corporation