Schiff Nutrition International Appoints Two New Members to Its Board of Directors
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WNI | Quote | Chart | News | PowerRating -- Schiff Nutrition International, Inc., (NYSE:WNI), today announced the
appointment of Michael Hyatt and Eugene Jones to its board of directors
effective April 21, 2009.
Eric Weider, chairman, stated, "We are pleased to welcome Michael and
Gene to our board. Michael's investment banking and corporate advisory
experience will provide valuable perspective as we implement our organic
growth strategies and evaluate potential transactions. Gene possesses an
exceptional range of financial skills and business experience, including
serving as an SEC reviewing and audit assurance partner while at KPMG."
Mr. Hyatt is a senior advisor at Irving Place Capital, formerly Bear
Stearns Merchant Banking, which he joined in 2008. Previously he served
as senior managing director of investment banking at Bear Stearns,
having joined in 1980. Mr. Hyatt serves as a director at Endo
Pharmaceutical Corp. Mr. Hyatt is a graduate of Syracuse University and
holds a JD from Emory University School of Law.
Mr. Jones was a partner at KPMG LLP until his retirement in 2002.
Subsequent to his retirement from KPMG, Mr. Jones served as chief
financial officer of Amedica Corporation, an early stage medical device
company, from 2004 until 2007. Mr. Jones holds a BA in accounting from
the University of Utah.
The company also announced that Glenn Schaeffer resigned from the board
effective April 1, 2009 to pursue other business opportunities.
Accordingly, Schiff's board will have nine members.
Mr. Weider added, "I would like to thank Glenn Schaeffer for his many
valuable contributions during his tenure on the board of directors. We
wish him well in his future endeavors."
About Schiff Nutrition
Schiff Nutrition International, Inc. develops, manufactures, markets and
distributes branded and private label vitamins, nutritional supplements
and nutrition bars in the United States and throughout the world. To
learn more about Schiff, please visit the web site www.schiffnutrition.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 that are based on management's
beliefs and assumptions, current expectations, estimates, and
projections. These statements are subject to known and unknown risks and
uncertainties, certain of which are beyond the company's ability to
control or predict, and, therefore, actual results may differ
materially. Any forward-looking statements are made pursuant to the
Private Securities Litigation Reform Act of 1995 and, as such, speak
only as of the date hereof. Schiff Nutrition disclaims any obligation to
update any forward-looking statements whether as a result of new
information, future events or otherwise. You are cautioned not to place
undue reliance on these forward-looking statements.
Important factors that may cause these forward-looking statements to be
false include, but are not limited to: the level of customer and
consumer acceptance of Move Free(R) Advanced, the level of
customer and consumer acceptance of MegaRed(R), the inability
to gain or maintain market distribution for MegaRed, the inability to
successfully implement marketing and spending programs behind our Move
Free, MegaRed and other branded products, the impact of raw material
pricing, availability and quality (particularly relating to joint care
products and ingredients from suppliers outside the United States,
including China), the mix between branded and private label products,
the inability to grow and/or maintain branded and private label sales,
the inability to enforce or protect our intellectual property rights
against infringement, the inability to achieve cost savings and
operational efficiencies, the inability to increase operating margins
and increase revenues, dependence on individual products, dependence on
individual customers, the impact of competitive products and pricing
(including private label), market and industry conditions (including
pricing, demand for products and level of trade inventories), the impact
of clinical studies regarding nutritional supplements, particularly
relating to the joint care category, the success of product development,
the inability to obtain customer acceptance of new product
introductions, changes in laws and regulations, litigation and
government or administrative regulatory action in the United States and
internationally, including challenges to marketing, advertising or
product claims, the inability to comply with or maintain new good
manufacturing practices for the dietary supplement industry, the
inability or increased cost to obtain product liability and general
insurance, the uncertainty of market acceptance of new products, adverse
publicity regarding nutritional supplements and/or their ingredients,
the inability to find strategic transaction opportunities or the
inability to successfully consummate or integrate a strategic
transaction, changes in accounting standards, and other factors
indicated from time to time in the company's SEC reports, copies of
which are available upon request from the company's investor relations
department or may be obtained at the SEC's web site (www.sec.gov).
These risks and uncertainties should be carefully considered before
making an investment decision with respect to shares of our common stock.
SOURCE: Schiff Nutrition International, Inc.
Schiff Nutrition International, Inc.
Joseph W. Baty, 801-975-5186
Chief Financial Officer
joeb@schiffnutrition.com
www.schiffnutrition.com
or
Lippert / Heilshorn & Associates
Keith Lippert, 212-838-3777
Kirsten Chapman, 415-433-3777
KChapman@lhai.com
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