FFI Announces Executive Promotions
April 14 2009 - 6:01AM
PR Newswire (US)
INDIANAPOLIS, April 14 /PRNewswire-FirstCall/ -- Fortune
Industries, Inc. (NYSE Amex: FFI) is pleased to announce the
promotions of Tena Mayberry to President and Randy Butler to Chief
Financial Officer of the Company. Mayberry will oversee the
implementation of the Company's goals and strategies nationwide.
Prior to her promotion to President of Fortune Industries, Mayberry
served as president of Brentwood-based Century II Inc., the largest
outsourced human resources firm based in Tennessee and one of the
oldest professional employer organizations (PEOs) in the nation.
Century II is a subsidiary of Fortune Industries, Inc. Butler will
be responsible for all financial reporting, budget management and
forecasting for Fortune Industries and its subsidiaries. Butler
joined Century II in 2006 as the Controller, and assumed
responsibility for all the financial functions of PSM, Inc., a
subsidiary of Fortune Industries in 2008. "As a result of Fortune's
emergence as a pure-play PEO in December, we are focusing our human
capital and financial resources on the profitability of the PEO
segment that has historically generated operating income and strong
cash flows from operations," said John Fisbeck, CEO of Fortune
Industries, Inc. "Tena is a proven top executive and one of the
most knowledgeable senior managers in the PEO industry, and Randy
has the financial background necessary to grow this business under
our new operating structure. Under their direction, Century II has
experienced substantial annual growth. Tena's experience in the PEO
industry, combined with Randy's in-depth knowledge of banking and
finance make them a powerful team to help guide Fortune into its
next phase as a PEO industry leader. They are a valued addition to
our executive team, and we look forward to leveraging their
expertise and leadership as we continue to expand our business in
the U.S." Mayberry brings more than 20 years of management
experience to her new position. She was named president of Century
II in 2007 after serving four years as COO, two years as senior
vice president and four years as vice president. Prior to joining
Century II, Mayberry served in management positions with Contract
Sales Managers, Kroger Co. and Norrell Temporary Services. Mayberry
holds a B.S. in marketing and business management from Tennessee
Technological University. Prior to Century II, Butler was the
Controller for PFIC Corporation, a broker-dealer providing
investment products for Union Planters Bank. At PFIC, Butler was
responsible for all the accounting and financial operations for the
Financial Services Division of Union Planters Bank. Prior to PFIC,
Butler was the Secretary/Treasurer for NEC, Inc., the leading
digital imaging company for publications in the country. Butler
graduated with honors from the University of Tennessee in December,
1982 with a Bachelor of Science degree in Accounting, and earned
his Certified Public Accountant certification in 1986. About
Fortune Industries, Inc. Fortune Industries, Inc. is focused as a
professional employer organization (PEO) to small and medium-sized
businesses in 47 states, including human resource consulting &
management, employee assessment, training, and benefits
administration. Fortune Industries, Inc. is based in Indianapolis,
Indiana and is publicly traded on the NYSE Amex exchange under the
symbol FFI. Additional information about Fortune Industries, Inc.
can be found at http://www.ffi.net/. This press release and other
statements by Fortune Industries, Inc. may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are typically
identified by words or phrases such as "believe," "expect,"
"estimate," "potential," or future/conditional verbs such as
"will," "should," and "could" or the negative of those terms or
other variations of them or by comparable terminology. The absence
of such terms, however, does not mean that the statement is not
forward-looking. Any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that could cause actual results to differ materially.
Factors that might cause or contribute to such differences,
include, but are not limited to, the risks and uncertainties that
are discussed under the heading "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" within the Company's Form 10-K for the year ended
August 31, 2008. The Company undertakes no obligation to publicly
update or revise any forward- looking statements, whether as a
result of new information, future events or otherwise. Readers
should carefully review the risk factors disclosed within the
Company's Form 10-K and other documents filed by the Company with
the Securities and Exchange Commission. DATASOURCE: Fortune
Industries, Inc. CONTACT: Carrie Fitzsimons, General Counsel of
Fortune Industries, Inc., +1-317-532-1374 Web Site:
http://www.ffi.net/
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