Jacuzzi Brands, Inc. (NYSE: JJZ) (or "the Company") today announced the appointment of Alex P. Marini as President and Chief Operating Officer of the Company, effective immediately. He will also continue in his capacity as President of Zurn Industries, Inc. (Zurn). Mr. Marini succeeds Donald C. Devine, who has left the Company and will pursue other interests. Marie S. Dreher has been named to the newly created position of Senior Vice President, Corporate Development and Strategy, effective August 15, 2005. Mr. Marini, 59, has served as President of Zurn, the Company's Commercial Plumbing Products business, since 1996. He joined Zurn in 1969 and held a variety of financial positions, including Vice President and Group Controller. He was promoted to Vice President of Sales, Marketing and Administration in 1984, and in 1987 was named President of Wilkins, a Zurn division, a position he held until becoming President of Zurn. Under Mr. Marini's leadership, Zurn has become a market leader in commercial plumbing products. He has implemented a business model focused on new product innovations, cost containment, a strong end-user focus and a commitment to customer satisfaction. As a result, most of Zurn's current sales volume is in markets where its products rank #1 or #2. Sales and income at Zurn have increased consistently through the ten years under Mr. Marini's tenure. Mr. Marini holds a BS in accounting and an MBA from Gannon University, and is a past President of the Financial Executives Institute. Ms. Dreher, 47, held positions of increasing responsibility at Millennium Chemicals, Inc. prior to its recent acquisition by Lyondell Chemical Company. She was made Vice President and Corporate Controller in 1996 following Millennium's spin-off from Hanson PLC in 1996. She was named Senior Vice President, Strategy and Corporate Development in 2003. In this position, Ms. Dreher produced double-digit declines in corporate overhead and led the disposition of non-core assets. A Certified Public Accountant, Ms. Dreher began her career at Ernst & Young and holds a BS in business administration. David H. Clarke, Chairman and Chief Executive Officer of Jacuzzi Brands, stated, "We welcome these experienced executives to their new roles. Al is an outstanding operator, as evidenced by Zurn's impressive performance and industry position. Although operating in a competitive marketplace, Zurn has increased its industry leading position, strengthened its share in key segments, and expanded into new product categories. Marie worked with me at Hanson PLC in my previous position. I am delighted that she is joining us and am very confident that her proven capabilities will make a strong contribution to improving our profitability." Mr. Clarke concluded, "We recognize Don's hard work and many contributions and wish him well in his future endeavors." Mr. Clarke and the Company have agreed to suspend Mr. Clarke's previously announced retirement as Chief Executive Officer to allow for continuity in operations and strategic initiatives. About Jacuzzi Brands, Inc. Jacuzzi Brands, Inc., through its subsidiaries, is a global manufacturer and distributor of branded bath and plumbing products for the residential, commercial and institutional markets. These include whirlpool baths, spas, showers, sanitary ware and bathtubs, as well as professional grade drainage, water control, commercial faucets and other plumbing products. Our products are marketed under our portfolio of brand names, including JACUZZI(R), SUNDANCE(R), ZURN(R), and ASTRACAST(R). Learn more at www.jacuzzibrands.com. Disclosure Concerning Forward-Looking Statements Any forward-looking statements made within this release, including the Company's current expectations with respect to future market conditions, future operating results and other plans, represent management's best judgment as to what may occur in the future and are intended to fall within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "plans," "projects," "believes," "estimates," "may," "will," "should," "shall," and similar expressions typically identify such forward-looking statements. Even though the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. In particular, various economic and competitive factors, including those outside our control, such as interest rates, foreign currency exchange rates, inflation rates, instability in domestic and foreign financial markets, terrorist acts, consumer spending patterns, energy costs and availability, freight costs, availability of consumer and commercial credit, adverse weather, levels of residential and commercial construction, and changes in raw material and component costs, and the credit worthiness of our customers, insurers, and investees, and other factors contained in the Company's filings with the Securities and Exchange Commission could cause our actual results during the remainder of 2005 and in future years to differ materially from those expressed in this press release.
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