IRVINE, Calif.--(BUSINESS WIRE)--March 8, 2003--Marwan Zreik has been promoted to chief operating officer of Naturade, Inc., it was announced today by Bill Stewart, CEO.
Zreik previously was vice president of operations and research & development, and he will continue overseeing those areas. As COO, he succeeds Larry Batina who was chief operating officer and chief financial officer. Batina left Naturade to pursue other opportunities where his broad experience in operations and finance can be utilized more fully.
Stewart says that Executives Unlimited, Inc. has been retained to conduct a search for a CFO candidate with qualifications more narrowly defined to the areas of financial control and financial management.
Over the last 18 months, Zreik has assumed increased responsibility for operations, including automation of warehouse operations, improved inventory control, development of strong vendor relationships, enhancement of lead times in customer service, improved forecasting and improved purchasing procedures to facilitate just-in-time delivery.
A certified clinical nutritionist, Zreik joined Naturade in 1997. Previously, he was research coordinator for Gero Vita International, Inc., Marina del Rey, Calif. He received his B.S. degree in animal physiology and neuroscience from University of California at San Diego and an M.S. degree in physiology and biophysics from Georgetown University. He is pursuing his M.B.A. degree part-time at the University of Southern California's MBA.PM program.
Headquartered in Irvine, Calif., Naturade -- since 1926 -- has been committed to marketing innovative natural products to improve the health and well being of consumers. Well-known for its 50 years of leadership in soy protein, Naturade is the number one brand name of natural soy protein powders sold in food, drug and mass merchandise stores. Its premier product, Naturade Total Soy, is a complete line of ready-to-drink, bars and shake mix meal replacement products sold at major supermarkets and drug, health food, club and mass merchandise stores throughout the U.S. The Company's other products include, Power Shake(R), Quick Fizz(TM) and Aloe Vera 80(R). For more information, visit www.naturade.com.
Note: The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for certain forward-looking statements. The statements contained in this news release that are not historical facts are forward-looking statements based on the company's current expectations and beliefs concerning future developments and their potential effects on the company, including, without limitation, statements concerning the company's strategies and initatives to improve business results. There can be no assurance that future developments affecting the company will be those anticipated by the company. Actual results may differ from those projected in the forward-looking statements. These forward- looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. These factors include the impact of government regulations, less stable demand in the mass market, variability of quarterly earnings, business interuption due to terrorism, ability to continue as a going concern and potential future earnings losses, dependence on key customers, dependence on current and ongoing financing, dilution due to future equity sales, technological changes, dependence on third-party manufacturers, pricing pressures and other competitive factors, dependence on qualified personnel, product liability exposure, inability to identify strategic growth partners, instability of the dietary supplement industry, impact of adverse publicity, limited success of new products, insufficient protection of intellectual property, stock price volatility and close control of company stock. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For a more detailed discussion of some of the ongoing risks and uncertainties of the company's business, see the company's filings with the Securities and Exchange Commission.