Party City Announces Appointment of John Frascotti and Jim Conroy to its Board of Directors
September 11 2019 - 6:45AM
Party City Holdco Inc. (the “Company" or "Party City") (NYSE:PRTY),
the leading vertically integrated decorated party goods company in
North America, today announced the appointment of two industry
veterans, John Frascotti and Jim Conroy, to its Board of Directors,
effective September 11, 2019.
Mr. Frascotti is currently President, Chief
Operating Officer of Hasbro, Inc., the global play and
entertainment company, and has served in this role since 2017. Mr.
Frascotti has over 11 years of experience with Hasbro, Inc. in
various senior roles with increasing responsibility, including
Chief Marketing Officer from 2008 to 2014 and President of Hasbro
Brands from 2014 to 2017. During his tenure, Mr. Frascotti played a
critical part in driving a digital first omni-channel approach,
executing bold global transformation initiatives and in the
re-invention of Hasbro's portfolio of franchise brands. He also
currently serves on the Board of Directors of Hasbro, Inc.,
Discovery Family Channel, Corus Entertainment, Serious Fun
Children’s Network, and is a member of the Advisory Board for
Newman’s Own Foundation. Previously, Mr. Frascotti held several
senior executive positions at Reebok International Ltd., where he
managed the Company's largest global business segment. Mr. Conroy
has over 25 years of retail experience and is currently President,
Chief Executive Officer and a Director of Boot Barn Holdings, Inc.,
the nation’s leading lifestyle retailer of western and work-related
footwear, apparel and accessories for men, women and children.
Under his leadership, Boot Barn has launched several new private
brands and more than tripled its annual revenue, through organic
growth and M&A. Prior to joining Boot Barn, Mr. Conroy spent
five years from 2007 to 2012 at Claire’s Stores Inc., one of the
world's leading specialty retailers of fashionable jewelry and
accessories, where he served as Chief Operating Officer, Interim
Co-Chief Executive Officer, President, and Executive Vice
President. Mr. Conroy also has extensive experience in management
consulting including key retail practice leadership roles at
Deloitte Consulting and Kurt Salmon Associates.
“We are pleased to welcome John and Jim to our Board and believe
their backgrounds are a great addition to the broad experience of
our existing Board of Directors,” said Norman Matthews, Party City
Director and Chairman of the Board. “John and Jim are
well-established leaders with proven track records of driving
growth at consumer companies and we will leverage their valuable
insights. We look forward to working with them both as we focus on
executing against our growth strategies across our omni-channel
business.” Mr. Frascotti graduated from Yale University with his
Bachelor’s degree in Economics, and Harvard Law School where he
earned his Doctor of Law degree. Mr. Conroy received his Bachelor’s
degree in Business Management and Marketing and a Master's degree
in Business Administration from Cornell University.
In conjunction with the appointment of Mr.
Frascotti and Mr. Conroy, Party City today announced the
resignation of Gerry Rittenberg from its Board of Directors. Mr.
Rittenberg, who has been with the Company since 1990 and served as
Chief Executive Officer of Party City from 1997 to 2014, will
remain with the Company as a consultant through December 31, 2020.
About Party CityParty City Holdco Inc. is the
leading party goods company by revenue in North America and, we
believe, the largest vertically integrated supplier of decorated
party goods globally by revenue. The Company is a popular one-stop
shopping destination for party supplies, balloons, and costumes. In
addition to being a great retail brand, the Company is a global,
world-class organization that combines state-of-the-art
manufacturing and sourcing operations, and sophisticated wholesale
operations complemented by a multi-channel retailing strategy and
e-commerce retail operations. The Company is the leading player in
its category, vertically integrated and unique in its breadth and
depth. Party City Holdco designs, manufactures, sources and
distributes party goods, including paper and plastic tableware,
metallic and latex balloons, Halloween and other costumes,
accessories, novelties, gifts and stationery throughout the world.
The Company’s retail operations include over 900 specialty retail
party supply stores (including franchise stores) throughout North
America operating under the names Party City and Halloween City,
and e-commerce websites, principally through the domain name
PartyCity.com.
ContactsInvestor RelationsICRRachel
Schacter203-682-8200InvestorRelations@partycity.com
Media Relations ICRBrittany Fraser
203-682-8200PartyCityPR@icrinc.com
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