Nautica Enterprises, Inc. (Nasdaq:NAUT) today
announced the appointment of Steven H. Tishman to the Company's Board
of Directors.
Mr. Tishman is filling a position on the board that was previously held
by George Greenberg who has retired. The number of Board of Directors
remains the same at eight members.
Mr. Tishman is currently a Managing Director and Group Head of the
Financial Sponsors Group at Robertson Stephens. He also oversees the
firm's New York office and is a member of the firm's Management
Committee. Prior to joining Robertson Stephens in 1999, Mr. Tishman
spent 15 years at Bear, Stearns & Company, Inc., where he was most
recently Senior Managing Director and Group Head of the Consumer Group
and prior to that, was a partner in the Mergers and Acquisitions
department.
Mr. Harvey Sanders, Chairman, President and Chief Executive Officer of
Nautica Enterprises, Inc., commented, “We are very pleased to have
Steve join the Company's Board of Directors. Steve's extensive
experience in the investment banking industry, specifically his focus
on retail and apparel companies, brings an added perspective to our
already strong organization and will prove instrumental as we continue
to execute our growth and diversification strategy.”
Nautica Enterprises, Inc. (Nasdaq:NAUT), through its subsidiaries,
designs, sources, markets and distributes apparel under the following
brands: Nautica; Nautica Competition; Nautica Jeans Company; John
Varvatos; Earl Jean; E. Magrath; and Byron Nelson.
This press release contains “forward-looking statements” as defined in
the Private Securities Litigation Reform Act of 1995. These statements
are based on the Company's current expectations of future events and
are subject to a number of risks and uncertainties that may cause the
Company's actual results to differ materially from those described in
the forward-looking statements. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those anticipated,
estimated or projected. These factors and uncertainties include, among
others: the risk that the businesses of the Company and Earl Jean, Inc.
will not be integrated successfully; the overall level of consumer
spending on apparel; dependence on sales to a limited number of large
department store customers; risks related to extending credit to
customers; actions of existing or new competitors and changes in
economic or political conditions in the markets where the Company sells
or sources its products; risks associated with consolidations,
restructurings and other ownership changes in the retail industry;
changes in trends in the market segments in which the Company competes;
risks associated with uncertainty relating to the Company's ability to
launch, support and implement new product lines in the United States
and Europe; effects of competition; changes in the costs of raw
materials, labor and advertising; and, the ability to secure and
protect trademarks and other intellectual property rights. These and
other risks and uncertainties are disclosed from time to time in the
Company's filings with the Securities and Exchange Commission,
including the “Forward-Looking and Cautionary Statements” section of
the Company's Annual Report on Form 10-K for the fiscal year ended
March 3, 2001, in the Company's press releases and in oral statements
made by or with the approval of authorized personnel. The Company
assumes no obligation to update any forward-looking statements as a
result of new information or future events or developments.
CONTACT:
Nautica Enterprises, Inc.
Wayne Marino
(212) 541-5757
Morgen-Walke Associates
Shannon Froehlich/Cara O'Brien/Priya Akhoury, Investor Relations
(212) 850-5600
Laura Novak, Media Relations
(212) 850-5600