Jacuzzi Brands Names Alex P. Marini President and Chief Operating Officer; Marie S. Dreher Named Senior Vice President, Corporat
August 11 2005 - 8:01AM
Business Wire
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.
Jacuzzi (NYSE:JJZ)
Historical Stock Chart
From May 2024 to Jun 2024
Jacuzzi (NYSE:JJZ)
Historical Stock Chart
From Jun 2023 to Jun 2024