WABASH, Ind., March 15 /PRNewswire-FirstCall/ -- Escalade, Inc.
(Nasdaq: ESCA) slated three new independent Directors in a bid to bolster its
Board and strengthen its corporate governance. If elected, this will increase
the number of Directors to seven, of which five will be nonemployee
The new Director nominees are as follows:
-- Mr. George Savitsky, age 65, Partner: Savitsky Satin & Company, a
company specializing in the management of the personal and business affairs of
highly successful entertainers. Mr. Savitsky is a CPA with a unique
background in marketing, manufacturing and finance.
-- Mr. Richard White, age 50, President, Aeolus Capital LLC, an investment
management group focused on small cap investments in public companies as well
as private equity investments. Mr. White is also a CPA.
-- Mr. Edward (Ned) Williams, age 43, Founder and President of Ballast
Tools, Inc., a manufacturer of industrial equipment and supplies used for
railway track maintenance for 19 years. Mr. Williams is a graduate of
Westminster College with a degree in Economics and Business Administration.
C.W. (Bill) Reed, President and CEO, stated that "The new Director
nominees bring a wealth of successful business experience as well as financial
expertise that should prove valuable as we move forward."
The company also announced that it is seeking to triple its authorized
common shares to 30 million to provide future flexibility for corporate needs
such as stock splits or stock dividends, acquisitions or other purposes.
Both actions are subject to shareholder approval at the annual shareholder
meeting to be held on April 24, 2004, at 9:00 AM central time at 817 Maxwell
Ave., Evansville, IN.
Escalade is a quality manufacturer and marketer of sporting goods and
office/graphic arts products sold worldwide. To obtain more information on
the Company and its products, visit our website at: www.EscaladeInc.com or
contact Terry Frandsen, Vice President and CFO at 260/569-7208 or C.W. (Bill)
Reed, President and CEO at 260/569-7233
SOURCE Escalade, Inc.