Business Services Industry
Morrow Snowboards announces management changes
Business Wire, Nov 19, 1996
SALEM, Ore.--(BUSINESS WIRE)--Nov. 19, 1996--Morrow Snowboards Inc. (NASDAQ:MRRW) today announced that Dennis R. Shelton has resigned as president and COO to pursue other opportunities.
The position of president will not be filled. Sales, marketing and product management responsibilities, which had reported to Shelton, will now report directly to David Calapp, who joined the company in September 1996 as CEO.
Other functions that continue to report to Calapp include operations, finance and research and development, including company founders Rob and Neil Morrow.
"I regret that Dennis and I were not able to mesh our operating styles," commented Calapp. "Dennis has done an excellent job in building the Morrow brand, as demonstrated by our 60 percent order increase for branded products this year, and he played a critical role in our successful public offering at the end of last year. We look forward to continued association with Dennis on a project consulting basis."
Morrow Snowboards is a leading designer, manufacturer and marketer of premium snowboards and related products. Revenue for the first nine months of 1996 was $22.4 million or 49 percent above the comparable period in 1995.
CONTACT: Morrow Snowboards Inc.
David Cleary, CFO, 503/375-9300, ext. 119
OR
Harris Massey Herinckx
Fletcher Chamberlin, 503/295-1922
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