Ascendia Brands, Inc. (Pink Sheets:ASCB) today announced that Joseph A.
Falsetti has resigned as Executive Chairman of the Company and as a
member of its Board of Directors, effective March 21, 2008. Ascendia and
Mr. Falsetti have entered into a Separation Agreement under which Mr.
Falsettti agreed to the termination of his employment agreement entered
into on February 12, 2007 and forfeited rights to certain incentive
stock options, in return for mutually agreed-upon severance payments.
About Ascendia Brands
Ascendia Brands, Inc. is a leader in the value and premium value
segments of the health and beauty care products sector. In November
2005, Ascendia expanded its range of product offerings through the
acquisition of a series of brands, including Baby Magic®,
Binaca®, Mr. Bubble®
and Ogilvie®,
and in February 2007 it acquired the Calgon™*
and the healing garden®
brands. The Company is headquartered in Hamilton, New Jersey, and
operates two manufacturing facilities, in Binghamton, New York, and
Toronto, Canada. Visit http://www.ascendiabrands.com
for additional information.
Certain statements contained herein may constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, 21E of the Exchange Act of 1934 and/or the Private Securities
Litigation Reform Act of 1995. Such statements include, without
limitation, statements regarding business plans, future regulatory
environment and approval and, the Company’s
ability to comply with the rules and policies of independent regulatory
agencies. Although the Company believes the statements contained herein
to be accurate as of the date they were made, it can give no assurance
that such expectations will prove to be correct. The Company undertakes
no obligation to update these forward-looking statements.
*Calgon is a licensed trademark.
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