Contact Information: CONTACTS: Corporate John Thompson AeroGrow International, Inc. (303) 444-7755 Investor Budd Zuckerman Genesis Select Corporation (303) 415-0200
AeroGrow Appoints New Chief Financial Officer
| Source: AeroGrow International, Inc.
BOULDER, CO--(Marketwire - May 27, 2008) - AeroGrow International, Inc. (NASDAQ : AERO )
("AeroGrow" or the "Company"), makers of the AeroGarden® line of indoor
gardening products, announced that it has appointed H. MacGregor (Greg)
Clarke as its new Chief Financial Officer, effective May 23, 2008.
Greg Clarke brings to AeroGrow an extensive background in finance,
operations and strategy, as well as consumer product experience, having
served as President, CEO and CFO at a number of high-growth companies in
his career. Most recently, Mr. Clarke was CEO (and previously CFO) of
Ankmar, LLC, a private equity-owned, nationwide garage door manufacturer,
distributor and installer, where he successfully restructured the company's
operations and managed the sale of Ankmar to strategic buyers. Previously,
he served as an operating group CFO, then Vice President and General
Manager for Johns Manville Corporation, a $2.2 billion building materials
subsidiary of Berkshire Hathaway Inc. There he was responsible for all
operations and financial performance for the Building Insulation Division.
Mr. Clarke also served as Vice President, Corporate Treasurer and
International Division CFO for The Coleman Company, Inc. during a period of
substantial top-line growth. Prior to Coleman, Mr. Clarke was with PepsiCo,
Inc. for over nine years and served in a range of financial roles,
including Director, Corporate Strategic Planning, where he led strategy and
planning for the worldwide beverage sector.
"Greg's considerable expertise in financial planning, managing debt
portfolios and top-level general management and leadership adds an
insightful financial mind to AeroGrow's management team," said Jerry
Perkins, CEO of AeroGrow. "We've just finished a year of almost 200% growth
and are poised to continue that growth through 2008 and beyond. Our
financial needs, from working capital to financial systems and reporting,
are changing fast. Greg is the right person to bring the systems and
expertise together to provide us with the financial tools and vision to
profitably manage our hyper-growth business."
Mr. Clarke replaced AeroGrow's previous CFO, Mitchell Rubin, who has left
the Company to pursue other interests.
About AeroGrow International, Inc.
Founded in 2002 in Boulder, Colorado, AeroGrow International, Inc. is
dedicated to the research, development and marketing of the AeroGarden®
line of indoor gardening products. AeroGardens feature NASA-proven,
dirt-free aeroponic technology, allowing anyone to grow farmer's market
fresh herbs, salad greens, tomatoes, chili peppers, flowers and more,
indoors, year-round, so simply and easily that no green thumb is required.
See www.aerogrow.com.
FORWARD-LOOKING STATEMENTS
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements by Michael Bissonnette, Jerry Perkins, and/or the
Company, statements regarding growth of the AeroGarden product line,
optimism related to the business, expanding sales and other statements in
this press release are forward-looking statements within the meaning of the
Securities Litigation Reform Act of 1995. Such statements are based on
current expectations, estimates and projections about the Company's
business. Words such as expects, anticipates, intends, plans, believes,
sees, estimates and variations of such words and similar expressions are
intended to identify such forward-looking statements. These statements are
not guarantees of future performance and involve certain risks and
uncertainties that are difficult to predict. Actual results could vary
materially from the description contained herein due to many factors
including continued market acceptance of the Company's products or the need
to raise additional capital. In addition, actual results could vary
materially based on changes or slower growth in the kitchen garden
appliance market; the potential inability to realize expected benefits and
synergies; domestic and international business and economic conditions;
changes in customer demand or ordering patterns; changes in the competitive
environment including pricing pressures or technological changes;
technological advances; shortages of manufacturing capacity; future
production variables impacting excess inventory and other risk factors
listed from time to time in the Company's Securities and Exchange
Commission (SEC) filings under "risk factors" and elsewhere. The
forward-looking statements contained in this press release speak only as
of the date on which they are made, and the Company does not undertake any
obligation to update any forward-looking statement to reflect events or
circumstances after the date of this press release.