Collins & Aikman Appoints New Independent Directors
30 Settembre 2004 - 4:12PM
PR Newswire (US)
Collins & Aikman Appoints New Independent Directors TROY,
Mich., Sept. 30 /PRNewswire-FirstCall/ -- Collins & Aikman
Corporation (NYSE:CKC) announced today that Anthony Hardwick and
Richard C. Jelinek have been appointed to the company's Board of
Directors. As a result, Collins & Aikman's 11-member Board of
Directors is now composed of a majority of independent directors.
Mr. Hardwick is currently Executive Vice President and Chief
Financial Officer of Easley Custom Plastics, Inc., a supplier of
injection molded plastic parts to the industrial, building and
construction, transportation, and power tool markets. He was
previously employed by Collins & Aikman from 1979 to 1996,
where he served as Vice President, Administration and Control of
the company's Automotive Group and then Vice President and
Controller of the company. Mr. Hardwick was also appointed to the
Audit Committee of the Board of Directors. Mr. Jelinek is the
former Chairman of Lifemark Corporation, a position in which he
served from 1994 until it merged with United Health Group in 2001.
He was also appointed to the Compensation Committee (as Chairman)
and Nominating and Governance Committee of the Board of Directors.
Mr. Hardwick and Mr. Jelinek, both of whom the Board has determined
are "independent," are replacing Samuel Valenti III and Cynthia L.
Hess, who have resigned as directors of the company to accommodate
the restructuring of the company's board to meet the new
independence requirements. Mr. Valenti and Ms. Hess had been
appointed to the board by Heartland Industrial Partners, L.P. in
conjunction with Heartland's acquisition of 59% of the company's
common stock in February 2001 and were not "independent" board
members due to their affiliation with Heartland. Mr. Valenti is a
Senior Managing Director of Heartland, and Ms. Hess was formerly a
Senior Managing Director of Heartland. The Board has also
determined that Mr. Hardwick is an "audit committee financial
expert" under applicable Securities and Exchange Commission
regulations. "We are pleased that Tony and Richard are joining our
Board and expect that both of them will make valuable contributions
to the company's future success," commented David A. Stockman,
Chairman and CEO of Collins & Aikman. "At the same time, we
would like to thank Sam and Cindy for their efforts on behalf of
the company over the last three years. Their experience and
guidance has been extremely valuable." Collins & Aikman
Corporation is a leading global supplier of automotive interior
components and systems, including instrument panels, cockpit
modules, flooring and acoustic systems, automotive fabric, and
interior trim, as well as exterior trim and convertible roof
systems. The Company's current operations include 15 countries,
more than 100 facilities and nearly 24,000 employees. Information
about Collins & Aikman is available on the internet at
http://www.collinsaikman.com/ . DATASOURCE: Collins & Aikman
Corporation CONTACT: J. Michael Stepp, Vice Chairman & CFO,
+1-248-824-1520, , or Robert Krause, Vice President and Treasurer,
Head of Investor Relations, +1-248-733-4355, , both of Collins
& Aikman Corporation Web site: http://www.collinsaikman.com/
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