WILLISTON, Vt., Nov. 10 /PRNewswire-FirstCall/ -- Vermont Pure Holdings, Ltd. (AMEX:VPS) announced that at a meeting of the Board of Directors on November 2, 2005 Peter Baker was appointed Chief Executive Officer, effective immediately. Mr. Baker became a President and a director of the Company in October 2000 in conjunction with the business combination with Crystal Rock. Prior to that, he was employed at Crystal Rock from 1977 until the merger. After serving on the board of directors of the IBWA, Peter served as its chairman for one term during 1998-1999.
Also at the meeting of the Board of Directors that was held November 2, 2005, the Company elected "controlled company" status under American Stock Exchange rules, following notice from the Baker family group that it now owns a majority of the Company's common stock. As a controlled company, Vermont Pure is not required to have a majority of independent directors. The size of the Board was reduced from 11 members to 7 members, and John M. LaPides and Martin A. Dytrych were appointed as directors to fill the two vacancies on the Board, joining Phil Davidowitz as independent directors.
Mr. LaPides is the President of Snow Valley, Inc., a home and office refreshment company located in Maryland that he established 25 years ago. He is a past President of the International Bottled Water Association, where he has served 14 years as a director and nine years as a member of the IBWA executive committee. He has also served as the director of InPhonic, Inc., a wireless solutions company, and was a finalist in Ernst & Young's 2002 Entrepreneur of the Year competition. Since 2001, Mr. LaPides has been an Entrepreneur in Residence at the Dingman Center for Entrepreneurship at the Robert Smith School of Business at the University of Maryland.
Mr. Dytrych is a certified public accountant and since 1981 has been with the accounting firm Lamn, Krielow, Dyrtrych & Co., P.A., which is located in Florida. He has been a stockholder of that firm since 1985. In addition to attest work, Mr. Dytrych prepares corporate and individual tax returns and advises clients in the areas of business and tax planning and consulting. He has also testified as an expert on valuation issues on over 30 court cases. He is a member of the AICPA, the Florida Institute of CPAs and the Association of Certified Fraud Examiners. He is also a Diplomat of the American Board of Forensic Accounting Examiners.
Vermont Pure Holdings, LTD. is the largest independent and third largest Home and Office distributor of its kind in the United States. The Company bottles and distributes natural spring water under the Vermont Pure(R) trademark and purified with minerals added bottled water under the Crystal Rock(R) brand. It markets its bottled water brands, as well as other home and office refreshment products, to customers throughout New England, New York, and New Jersey. The Company is currently executing a growth strategy to expand its customer base through acquisition of smaller regional home and office bottled water and refreshment product distributors. Vermont Pure Holdings Ltd.'s common stock trades on the American Stock Exchange under the symbol: VPS.
Note: This press release contains forward looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those indicated by such forward looking statements, including integration of acquisitions, ability to sustain and manage growth, changing market conditions, and other risks detailed in the company's filings with the Securities and Exchange Commission.
Contact: Peter Baker, CEO - 860-945-0661 x3001
Bruce MacDonald, CFO - 802-860-1126
Eugene Malone, Corporate Investors Network - 888-377-9777
DATASOURCE: Vermont Pure Holdings, Ltd.
CONTACT: Peter Baker, CEO, +1-860-945-0661 ext 3001, or Bruce MacDonald, CFO, +1-802-860-1126, or Eugene Malone, Corporate Investors Network, +1-888- 377-9777, all of Vermont Pure Holdings, LTD.
Web site: http://www.vermontpure.com/
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