RICHMOND, Va., April 20, 2011 /PRNewswire/ -- RoomStore, Inc. (OTCBB: room) announces appointment of new director.
Mr. Steven Gidumal has been appointed to the board of directors of RoomStore, Inc. Mr. Gidumal replaces Mr. Gene Davis, who resigned from the board in late March for personal reasons. The Company welcomes Mr. Gidumal to the board, and looks forward to his valued service.
Mr. Gidumal brings extensive financial and business experience to RoomStore. Currently, he is the President and Portfolio Manager of Virtus Capital LP, a private investment company, which Mr. Gidumal founded in February 2004. Virtus Capital LP currently owns 4.99% of the common stock of RoomStore. RoomStore is pleased to have a significant shareholder accept this important position as a member of its board of directors.
Previously, Mr. Gidumal held senior management positions as portfolio manager, investment banker and director of operations for Bear Stearns & Co., Rothschild, Inc. and Polychrome Corporation, respectively. Mr. Gidumal obtained an MBA from Harvard Business School in 1989, and a Bachelor of Science degree in Economics from The University of Pennsylvania (Wharton) in 1979.
Certain statements in this news release contain forward-looking statements, which are subject to risks and uncertainties. These statements can be identified by the use of forward-looking terminology such as "believes," "estimates," "expects," "may," "will," "should," or "anticipates," and the negative thereof or other variations of such terms. Factors that might cause actual results to differ materially from such forward-looking statements include, but are not limited to, the risk factors described and the other uncertainties detailed from time to time in the reports the Company has filed with the SEC.
SOURCE RoomStore, Inc.
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