AeroGrow Announces New Board Members
Market Wire, July, 2008
AeroGrow International, Inc. (NASDAQ: AERO) ("AeroGrow" or the "Company"), makers of the AeroGarden line of indoor gardening products, announced that it has appointed four new members to its Board of Directors, Linda Graebner, Peter Michel, Suresh Kumar and Michael Dingman, Jr., bringing significant additional depth and breadth of experience to its Board.
Linda Graebner is a veteran consumer products and direct marketing executive. In her role as President and CEO of Tilia Inc., she transformed a small ($9 million revenue), unprofitable and insolvent company into a leading manufacturer of premier lines of small electric kitchen appliances (FoodSaver and VillaWare brands). She built a virtually unknown product, the FoodSaver Vacuum Sealing System, into the fourth largest category in small electric appliances at revenues in excess of $200 million. She managed the sale of this privately held company to Jarden Corporation (NYSE) in 2002 in a $185 million cash transaction. Recognized as an expert in the housewares industry, Linda has served on multiple boards, including Bradshaw International Inc., Wine.com, Inc., the Association of Corporate Growth, and Pacific Community Ventures, and as Chairman of the International Housewares Association.
Peter Michel has extensive experience in leading and rapidly growing a wide range of product and service companies. Mr. Michel is currently the President and CEO of iSECUREtrac Corporation, a leading provider of electronic monitoring systems. He has led four companies as CEO, including Brink's Home Security. During his tenure there, Mr. Michel transformed the company from a $26 million security firm to a $258 million leader in high-tech home protection services, supporting over 700,000 households in more than 100 markets and 42 states. Mr. Michel established Brink's Home Security as the industry's service and quality leader and achieved record operating profits for 12 years in a row. Earlier in his career, Mr. Michel refined his skills in general management, strategy and marketing as a top strategic planner for Penn Central, American Standard and Gulf Oil. Mr. Michel has chaired five not-for-profit boards and served as Chairman of the Homeland Security Advisory Council of the Security Industry Association. His public sector experience includes serving as a policy-level executive in the Federal government, including time on the White House Staff.
Suresh Kumar is a proven leader in international business with decades of international consumer product experience. Suresh has served as Advisor and Consultant to the Clinton Foundation and the Bill & Melinda Gates Foundation, working closely with the principals and governments to establish private-public partnerships that stimulate international economic development. He is currently President and CEO of KaiZen Innovation, a management advisory firm that specializes in installing global marketing processes and programs. Previously, he served as Distinguished Executive-in-Residence at the Thunderbird School of Global Management. Between 1999 and 2004 he served as Head of Worldwide Consumer Pharmaceuticals for Johnson & Johnson, where he worked with brands such as Tylenol, Motrin and Imodium and is credited with turning around the emerging markets business. Previously, he led consumer healthcare, confectionery and shaving products businesses for Warner Lambert/Pfizer Company as Vice President of Consumer Products for Latin America and Asia. He has also been in leading positions internationally for Levi-Strauss & Co., Unilever and the Colgate-Palmolive Company.
Michael D. Dingman, Jr. is a financial, capital requirements, budgeting and investor relations professional, having served as CFO of multiple rapidly growing public and private companies in the telecom and e-commerce industries. Mr. Dingman currently serves as Chief Investment Administration Officer for Spencer Track & Co, a venture capital firm based in New York City. From June 2006 to July 2007, Mr. Dingman was CFO of Local Matters, Inc., a pre-IPO software and media services company supporting yellow pages and delivery assistance providers. From September 2000 until April 2006, Mr. Dingman served as the CFO of Intrado Inc., a provider of 911 information services and systems to telecommunications companies. Prior to joining Intrado, from March 1999 to August 2000, Mr. Dingman had been the CFO and Treasurer of Internet Commerce and Communication (formerly RMI NET, Inc.). Mr. Dingman's prior work experience includes five years of banking in merger and acquisitions with Lazard Freres in New York during the late 1980s, three years as an independent consultant specializing in debt restructuring and workouts during the early 1990s and five years as an investment advisor specializing in corporate retirement plans and high-net-worth accounts.
"We almost tripled in size last year, and need the talents and skill sets of our Board of Directors to keep pace with our growth and changes," said Jerry Perkins, CEO of AeroGrow. "Linda, Michael, Suresh and Peter have successfully led companies and divisions through these hyper-growth periods and transitioned them into profitable leaders in their categories. With Linda's direct experience in the Housewares industry, Peter's experience in managing an explosive growth, brand-oriented company, Suresh's broad, international and consumer products background and Michael's deep financial and public company experience, we're adding four diverse, powerful contributors to our already strong Board."
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