FOOTHILL RANCH, Calif., June 6, 2005 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced that on June 3, 2005, Greg Trojan and Colombe Nicholas were added to the company's Board of Directors. Mr. Trojan currently serves as the CEO of House of Blues (HOB) Entertainment and its divisions, including House of Blues Music/Restaurant Venues. Ms. Nicholas, former president and CEO of The Anne Klein Company and Giorgio Armani Fashion Corp, is currently a consultant with Finaco Global Consulting.
"Throughout Greg and Colombe's careers, they have each demonstrated outstanding leadership capabilities in strategic vision, tactical execution and financial management for a diverse stable of companies," commented Chairman and Chief Executive Officer Jim Jannard. "Greg's significant brand management experience will contribute to the future growth of Oakley as we strive to meet ever-changing market and economic conditions, and maximize shareholder value."
"Colombe's extensive experience in the fashion industry will provide an excellent asset as we continue our successful product diversification strategy and worldwide retail expansion," continued Jannard. "We look forward to both of their valuable skill sets and individual contributions serving on our Board of Directors."
Greg Trojan
Mr. Trojan currently serves as the CEO of HOB Entertainment, Inc. and has been with the company since August 1996. Mr. Trojan began his career in 1981 as a management consultant with Andersen Consulting. In 1990, following four years as a management consultant for Bain & Company in Boston, he became a key member of PepsiCo Inc.'s planning and development team before assuming the position of president and CEO of the 77-unit California Pizza Kitchen chain in 1994. Mr. Trojan holds a Bachelor of Science degree from the Mclntire School of Commerce at the University of Virginia and an MBA from the Wharton Graduate School of Business.
Colombe Nicholas
Ms. Nicholas is currently a consultant with Finaco Global Consulting, which identifies domestic and international expansion opportunities and provides expert advice to companies that seek potential growth. From 1996 to 1999, she was president and CEO of The Anne Klein Company. She was president and CEO of Giorgio Armani Fashion Corp. from 1991 to 1993. Additionally, she also served as president of Christian Lacroix-USA (in tandem with Christian Dior). Ms. Nicholas is currently a board member for Tandy Brand Accessories, The Mills Corporation and Sola International. She also served as board member for Bank One, Leader Technology, Ashford.com and Lions Apparel.
Oakley's Board of Directors
The addition of Mr. Trojan and Ms. Nicholas, who each qualify as independent directors under the listing standards of the New York Stock Exchange, Inc. and the company's Corporate Governance Guidelines, brings Oakley's Board of Directors to seven members including: Tom Davin, Mary George, Jim Jannard, Link Newcomb and Mike Puntoriero. Mr. Trojan will serve on the Compensation and Stock Option, and Nominating and Corporate Governance Committees. Ms. Nicholas will serve on the Audit, and Nominating and Corporate Governance Committees. Each of the Board's committees continues to be comprised solely of the independent directors.
The Oakley Inc. logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1533
About Oakley, Inc.
Oakley: a world brand, driven to ignite the imagination through the fusion of art and science. Building on its legacy of innovative, market-leading, premium sunglasses, the company also offers an expanding line of premium performance apparel and accessories, prescription eyewear, footwear, electronics and watches to consumers in more than 100 countries. Trailing-12-month net sales through March 31, 2005 totaled $598.6 million and generated net income of $44.7 million. Oakley, Inc. press releases, SEC filings and the company's annual report are available at www.oakley.com.
Safe Harbor Disclaimer
This press release contains certain statements of a forward-looking nature. Such statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to growth and strategies, future operating and financial results, financial expectations and current business indicators are based upon current information and expectations and are subject to change based on factors beyond the control of the company. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "believe," "plan," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements are expressed differently. The accuracy of such statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including but not limited to: risks related to the sale of OAKLEY THUMP(tm) and new product introductions in the company's electronics category; the company's ability to maintain approved vendor status and continue to receive product orders from the U.S. military; the company's ability to integrate and operate acquisitions, the company's ability to manage rapid growth; risks related to the limited visibility of future sunglass orders associated with the company's "at once" production and fulfillment business model; the ability to identify qualified manufacturing partners; the ability to coordinate product development and production processes with those partners; the ability of those manufacturing partners and the company's internal production operations to increase production volumes on raw materials and finished goods in a timely fashion in response to increasing demand and enable the company to achieve timely delivery of finished goods to its retail customers; the ability to provide adequate fixturing to existing and future retail customers to meet anticipated needs and schedules; the dependence on eyewear sales to Luxottica Group S.p.A, which, as a major competitor, could materially alter or terminate its relationship with the company; the company's ability to expand and grow its distribution channels and its own retail operations; unanticipated changes in general market conditions or other factors, which may result in cancellations of advance orders or a reduction in the rate of reorders placed by retailers; a weakening of economic conditions could continue to reduce demand for products sold by the company and could adversely affect profitability, especially of the company's retail operations; terrorist acts, or the threat thereof, could adversely affect consumer confidence and spending, could interrupt production and distribution of product and raw materials and could, as a result, adversely affect the company's operations and financial performance; the ability of the company to integrate licensing arrangements without adversely affecting operations and the success of such initiatives; the ability to continue to develop and produce innovative new products and introduce them in a timely manner; the acceptance in the marketplace of the company's new products and changes in consumer preferences; reductions in sales of products, either as the result of economic or other conditions or reduced consumer acceptance of a product, could result in a buildup of inventory; the ability to source raw materials and finished products at favorable prices to the company; the potential impact of periodic power crises on the company's operations including temporary blackouts at the company's facilities; foreign currency exchange rate fluctuations; earthquakes or other natural disasters concentrated in Southern California where a significant portion of the company's operations are based; the company's ability to identify and execute successfully cost control initiatives; and other risks outlined in the company's SEC filings, including but not limited to the Annual Report on Form 10-K for the year ended December 31, 2004 and other filings made periodically by the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to update this forward-looking information. Nonetheless, the Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this press release. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.