FBC Holdings Announces agreement with new CEO Frank Russo, turned around Puma
NEW YORK, Nov. 8, 2012 /PRNewswire/ -- (OTC Markets: FBCD) FBC Holding, Inc. announced today that Frank Russo, one of the Company's directors has agreed to assume the role of Chief Executive Officer. Russo is the former Vice President of Development for RYCA and is an expert in implementing sales distribution and product strategy, sales team leadership, marketing, market analysis and business development. Prior to joining RYCA and FBC Mr. Russo was the President of Gladiator Sales, Inc., which was the exclusive sales agency for Puma North America. He led Gladiator to reestablish the Puma brand to prominence and increased sales revenue to over $75 million with 13 sales associates. Under his leadership Gladiator was named Brand Agency of the Year – 2000 and 2002.
Russo stated, "After working with the company for several months now I am excited about the prospects. I see FBC Holding as a company that has been jumping from business to business without ever accomplishing anything. It is a fading brand just like Puma was, and like Puma, it has a unique and high-quality product. We have done most of our housecleaning and are now focusing on selling Flowboards and other extreme sports products"
The company also announced that it still intends to issue a comprehensive shareholder update along with the filing of the annual report. We have received a filing extension as our CEO and our professional service providers have been and continue to be affected by Hurricane Sandy.
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