Parlux Board of Directors Elects Its Chairman and Chief Executive Officer
14 Maggio 2007 - 9:15PM
PR Newswire (US)
FORT LAUDERDALE, Fla., May 14 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (NASDAQ:PARL) Parlux Fragrances, Inc. announced
today that Mr. Neil J. Katz, who has served as interim Chief
Executive Officer for the last three months, has been elected
unanimously by the Company's Board of Directors as Chief Executive
Officer and Chairman of the Board of Directors. Mr. Neil J. Katz
has over 30 years experience in the beauty business and has served
as President of Liz Claiborne Cosmetics and President of Revlon
Beauty Care Division. Mr. Katz said he was excited and confident of
the future of Parlux Fragrances, Inc. "Over the last 3 months, I
worked with an outstanding team in the Company to stabilize the
organization, cut operational expenses, and build a 2007/2008
operational plan that will set the Company on a renewed growth
curve." Mr. Katz added, "A key priority will be to add a number of
licenses which will fuel our sales growth. We will also stress the
development of our core fragrance businesses by strengthening our
relationships with existing licensors. With the sale of the Perry
Ellis brand this past Fall, growth was temporarily interrupted.
This required certain strategic changes in the organization, which
have now been implemented." About Parlux Fragrances, Inc. Parlux
Fragrances, Inc. is a manufacturer and international distributor of
prestige products. It holds licenses for Paris Hilton fragrances,
watches, cosmetics, sunglasses, handbags and other small leather
accessories in addition to licenses to manufacture and distribute
the designer fragrance brands of GUESS?, XOXO, Ocean Pacific (OP),
Maria Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly
Hills. Certain Information Regarding Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
regarding, among other things, our plans, strategies and prospects,
both business and financial. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements of
Parlux or its industry to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. These risks and uncertainties include,
among others, future trends in sales and Parlux's ability to
introduce new products in a cost-effective manner, general economic
conditions and continued compliance with the covenants in our
credit facility. Additional risk factors are set forth in the
Company's periodic reports filed with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
thereof. Parlux undertakes no obligation to publicly release the
result of any revisions to these forward-looking statements that
may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
DATASOURCE: Parlux Fragrances, Inc. CONTACT: Parlux Fragrances,
Inc., +1-954-316-9008, or Neil J. Katz, CEO Ext. 8116 Web site:
http://www.parlux.com/ Company News On-Call:
http://www.prnewswire.com/comp/674987.html
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