GONZALES, La., Aug. 15, 2007 (PRIME NEWSWIRE) -- Crown Crafts, Inc. (the "Company") (Nasdaq:CRWS) today announced that it had appointed Zenon S. Nie as its independent lead director.
Mr. Nie is Chairman of the Board, President and Chief Executive Officer of the CEO Advisory Board LLC, a management consulting firm he founded in 2000, and has been an operating partner in Tri-Artisan Partners since 2001. From 1993 to 2000, he was Chairman of the Board, President, Chief Executive Officer and Chief Operating Officer of Simmons Company, a manufacturer and distributor of mattresses. Previously, he was President, Consumer Home Fashions Division, of The Bibb Company and President of Serta, Incorporated. Mr. Nie has been a member of the Company's Board of Directors since 2001 and currently serves as the Chairman of the Compensation Committee and as a member of the Capital Committee.
The designation of an independent lead director will aid the Board in assuring effective corporate governance in managing the affairs of the Company and reinforces the Board's commitment to best practices.
Crown Crafts, Inc. designs, markets and distributes infant and juvenile consumer products, including bedding, blankets, bibs, bath items and accessories. Its subsidiaries include Hamco, Inc. in Louisiana and Crown Crafts Infant Products, Inc. in California. Crown Crafts is America's largest producer of infant bedding, bibs and bath items. The Company's products include licensed and branded collections as well as exclusive private label programs for certain of its customers.
This document may contain forward-looking statements within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current expectations, projections, estimates and assumptions. Words such as "expects," "believes," "anticipates" and variations of such words and similar expressions identify such forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements. Reference is made to the Company's periodic filings with the Securities and Exchange Commission for factors that may impact the Company's results of operations and financial condition. The Company does not undertake to update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a result of new information, future events or otherwise.