News
Releases:
November
21, 2002
Catalina Lighting,
Inc Appoints Robert Varakian As President and Chief Executive Officer
MIAMI, Nov. 21 -- Catalina Lighting Inc CALA,
a leading international designer, manufacturer, and distributor of lighting
products for residential and office environments, announced today the
appointment of accomplished consumer products executive Robert Varakian, 47,
as its new President and Chief Executive Officer, effective November 25, 2002.
Varakian has more than 20 years of consumer products experience, with specific
expertise in the housewares industry. Varakian replaces Eric Bescoby, the
Company's current chief executive officer, who is taking a position with Sun
Capital Partners, Inc, and who will work with Varakian and Catalina Lighting
for an orderly transition. An affiliate of Sun Capital Partners is the
majority shareholder of Catalina Lighting.
Before joining Catalina Lighting, Varakian was President of North Bergen,
New Jersey-based Lectrix LLC, a company he founded in 2000 that focused on
small, unique, patented, electric kitchen items. Within the first six months
of shipments, Varakian achieved placement at many key retailers in medium and
upscale distribution channels, including Crate & Barrel, Hammacher
Schlemmer, Spiegel's, Amazon.com and Chef's Catalog.
Before founding Lectrix, from 1994 through 1999, Varakian held several
positions at Ekco Group in Franklin Park, Illinois, including President of
Ekco Housewares, the company's largest division. At Ekco, Varakian achieved
both top and bottom line growth, created and led a start-up international
division, and helped to open new, upscale distribution channels.
Prior to his tenure at Ekco Group, Varakian held several management
positions at M. Kamenstein Inc., a housewares company based in Elmsford, New
York, most recently as Senior Vice President of Sales/Marketing, where he
handled product development and overseas sourcing and achieved eight
consecutive years of record sales and gross profits.
Departing Catalina Lighting CEO Eric Bescoby commented, "Now that the
operational restructuring at Catalina is complete, I am confident in handing
over the reins to Bob Varakian. Bob is an experienced consumer products
executive with superb industry credentials and a strong background in
management, marketing, product development, sales and sourcing. We believe
that he is the ideal choice to lead Catalina and to help to continue to
improve the Company's performance."
About Catalina Lighting Inc
Catalina Lighting Inc is a leading international designer, manufacturer and
marketer of residential and office lighting products. The Company's broad
product line includes functional and decorative table lamps; ceiling, wall,
recessed, vanity and track lighting fixtures; emergency and outdoor lighting;
and chandeliers. Its line is distributed under several brand names, including
Catalina, Dana, Ring, Illuminada and Pro Office. The Company also functions as
an OEM, selling goods under its customers' private labels.
This press release includes statements that constitute
"forward-looking" statements, including, without limitation, that
services provided by Varakian will help the Company to continue to improve its
financial performance. These statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such differences
include, but are not limited to, the termination of Varakian's employment with
the Company; an adverse change in the Company's financial condition due to
matters outside of the Company's control; and other risks detailed in the
Company's periodic reports filed with the Securities and Exchange Commission.
By making these forward-looking statements, the Company undertakes no
obligation to update these statements for revisions or changes after the date
of this release.
CONTACT: Anthony D. Borzillo, CFO, Catalina Lighting, +1-305-558-4777, ext. 269
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