Leslie's Poolmart Inc. Announces Appointments of New Chairman and President/CEO

Business Wire, Jan 5, 2000

Business Editors

CHATSWORTH, Calif.--(BUSINESS WIRE)--Jan. 5, 2000

Leslie's Poolmart Inc. today announced the appointment of a new chairman of the board of directors, as well as the hiring and appointment of a new president and chief executive officer.

Brian P. McDermott was appointed chairman of the board, while Lawrence Hayward assumes the responsibilities of president and chief executive officer, the post previously occupied by McDermott.

Hayward will also serve on the board of directors of the company. Michael Fourticq, the outgoing chairman of the board, will remain an active board member, as well.

McDermott has been an officer of Leslie's Poolmart since 1988; its president and a board member since April 1989; and has served as its president and CEO since August 1992. During his tenure, Leslie's has expanded from 66 stores to 370 stores nationwide.

Hayward joins Leslie's from Fleming Companies Inc., one of the nation's largest wholesale and retail distributors of grocery and general merchandise. While at Fleming, Hayward served as president of ABCO Desert Markets, an Arizona-based retail chain.

Prior to joining Fleming Companies, Hayward served as president and CEO of Carr Gottstein Foods Company, Alaska's largest food and drug retailer and wholesale distributor. Hayward has more than 20 years experience in retailing and distribution while serving in positions of increased responsibility at both American Stores Companies and Buttrey Food & Drug.

"We are pleased to be able to add a seasoned and successful executive of Larry's stature to our management team," stated McDermott. "His leadership capabilities will greatly benefit our company as it continues to grow in the next several years."

"I am tremendously excited to be joining the Leslie's team, a company with an excellent record of growth and outstanding future prospects," added Hayward.

Founded in 1963, Leslie's Poolmart is the country's leading specialty retailer of swimming pool supplies and related products. The company currently markets its products through 370 retail stores in 30 states, a nationwide mail-order catalog and a new Internet e-commerce site.