HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Nov. 11, 2002--Twinlab Corporation (NASDAQ: TWLB) announced today that after thirty years with the Company Neil Blechman and Brian Blechman have retired as Executive Vice Presidents.
Both will remain available to continue the succession planning that began some time ago to ensure the completion of a smooth transition of their responsibilities. They are continuing to serve on the Twinlab Board of Directors.
Neil Blechman joined Twin Laboratories, Inc. in 1972 with responsibility for marketing and advertising, creative services and consumer affairs. He became an Executive Vice President and Director of the Company in 1996. David Cohen - Vice President of Marketing will assume responsibility for the marketing and creative services functions of the Company.
Neil Blechman added: "I am proud to have played a major role in the development of one of the most trusted brand names in the industry. My thirty years with Twinlab have been extremely gratifying. However, with a strong management team in place, now is the time for me to move on and leverage my strategic and marketing expertise in other areas."
Brian Blechman also joined Twin Laboratories, Inc. in 1972 with responsibility for product formulation, manufacturing, distribution and quality control. He became an Executive Vice President and Director of the Company in 1996. Brian Richmond - Vice President of Operations will assume responsibility for management of the operational functions of the Company.
Brian Blechman continued: "I have seen numerous changes and advancements during my years with Twinlab. I believe that the recent plant consolidation in Utah will provide for a more streamlined operational configuration. The management team that I have worked with and leave in charge is highly qualified to carry on my duties."
Ross Blechman, CEO and President stated: " We wish both Neil and Brian the very best as they move into the next exciting chapters of their lives. The entire Twinlab organization thanks them for their many contributions and years of devoted service to the Company."
Except for historical information contained herein, this release contains, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, forward-looking statements that are based on management's beliefs and assumptions, current expectations, estimates and projections. Many of the factors that will determine the Company's financial results are beyond the ability of the Company to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. The Company disclaims any obligation to update any forward-looking statements whether as a result of new information, future events, or otherwise. Important factors and risks that may affect future results include but are not limited to: (i) the impact of competitive products; (ii) changes in law and regulations; (iii) adequacy and availability of insurance coverage; (iv) limitations on future financing; (v) increases in the cost of borrowings and unavailability of debt or equity capital; (vi) the effect of adverse publicity regarding nutritional supplements; (vii) uncertainties relating to acquisitions; (viii) the inability of the Company to gain and/or hold market share; (ix) exposure to and expense of resolving and defending product liability claims and other litigation; (x) consumer acceptance of the Company's products; (xi) managing and maintaining growth; (xii) customer demands; (xiii) the inability to integrate and consolidate its manufacturing and distribution facilities and achieve cost savings and operational efficiencies; (xiv) dependence on individual products; (xv) dependence on individual customers, (xvi) market and industry conditions including pricing, demand for products, levels of trade inventories and raw materials availability, (xvii) the success of product development and new product introductions into the marketplace including the Company's line of ephedra-free products; (xviii) lack of available product liability insurance for ephedra-containing products; (xix) slow or negative growth in the nutritional supplement industry; (xx) the departure of key members of management; (xxi) the absence of clinical trials for many of the Company's products; (xxii) the ability of the Company to efficiently manufacture its products; as well as other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission, copies of which are available upon request from the Company's investor relations department.
Additional Twinlab information is available on the World Wide Web at: http://www.twinlab.com