Steven Madden, Ltd. Appoints Edward Rosenfeld Chairman and Chief Executive Officer
August 11 2008 - 7:30AM
PR Newswire (US)
LONG ISLAND CITY, N.Y., Aug. 11 /PRNewswire-FirstCall/ -- Steven
Madden, Ltd. (NASDAQ:SHOO), a leading designer and marketer of
fashion footwear and accessories for women, men and children, today
announced that the Company's Board of Directors has appointed
Edward Rosenfeld as Chairman of the Board and Chief Executive
Officer, effective immediately. Mr. Rosenfeld previously served as
interim Chief Executive Officer. Walter Yetnikoff retired as
Chairman of the Board and as a director. "The Board of Directors is
very pleased that Ed has agreed to take on the role of Chief
Executive Officer on a permanent basis," said Peter Migliorini,
Lead Director. "Ed's strategic focus and proven track record with
the Company, as well as his experience in working with the
management team, make him the ideal person to lead Steven Madden,
Ltd. In addition, his financial expertise and leadership qualities
will allow him to guide the Company into its next phase of growth.
We are confident that he will continue to successfully direct the
Company going forward." Mr. Rosenfeld commented, "Walter has been a
valuable advisor to Steven Madden, Ltd. for the past three years,
and we have benefited from his leadership and insight. We thank
Walter for his contributions, especially during the recent
management transition period, and wish him well in his future
endeavors. I am grateful to the Board of Directors for the
confidence and support they've demonstrated in naming me Chairman
and CEO." Edward Rosenfeld previously served as interim Chief
Executive Officer and, prior to that, as Executive Vice President
of Strategic Planning and Finance of Steven Madden, Ltd. He has
been a member of the executive management team since joining the
Company in May 2005 and has also served as a member of the Board of
Directors since February 2008. Prior to joining the Company, Mr.
Rosenfeld was a Vice President in the mergers and acquisitions
group at Peter J. Solomon Company, an investment banking boutique
where he focused on the retail and apparel industries. Mr.
Rosenfeld graduated cum laude from Amherst College. Steven Madden,
Ltd. designs and markets fashion-forward footwear and accessories
for women, men and children. The shoes and accessories are sold
through company-owned retail stores, department stores, apparel and
footwear specialty stores, and online at
http://www.stevemadden.com/. The Company has several licensees for
its brands, including for outerwear, cold weather accessories,
eyewear, and hosiery and owns and operates 99 retail stores,
including its online store. The Company is the licensee for
footwear, handbags and belts for Fabulosity and for handbags and
belts for Betsey Johnson, Daisy Fuentes, and Tracy Reese.
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other unknown factors that could cause the
actual results of the Company to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties readers are urged
to consider statements labeled with the terms "believes", "belief",
"expects", "intends", "anticipates" or "plans" to be uncertain and
forward-looking. The forward looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission. DATASOURCE: Steven Madden, Ltd. CONTACT: Investors,
Cara O'Brien or Leigh Parrish; or Media, Diane Zappas, all of FD,
+1-212-850-5600 Web site: http://www.stevemadden.com/
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