HouseHold Direct Announces Nomination of Stephan J. Lovett to Board of Directors
NEW YORK--(BUSINESS WIRE)--April 19, 2001--HouseHold Direct announced today that Stephan J. Lovett, President of Hartsfield Capital Group, Inc., has been nominated to the Board of Directors.
This nomination continues the initiative to expand the Management Team through the creation of a seasoned, shareholder value driven, Board of Directors, as the Company pursues a consolidation strategy within the private wholesale buying club industry.
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As President of Hartsfield, Mr. Lovett is responsible for the Company's overall financial advisory, investment banking and corporate development practices. He has over thirty years of diverse experience in domestic and international strategic, financial, corporate development and operational management. Prior to Hartsfield Capital, he had held the senior planning and development position at The Bank of New York, Bell Atlantic, Rockwell International and The Continental Group.
Mr. Lovett has a unique capability to develop creative insights for alternative corporate portfolio and operating unit investments. He has completed over 200 major business development transactions; conducted business in over 73 countries; and, has profitably managed three operating companies and sixteen venture start-ups. Additionally, he has a demonstrated ability to assist embryonic, middle market and large complex corporations in applying easy to implement financial engineering, marketing and operating programs to immediately improve short term results while maintaining longer range investment strategy continuity.
Mr. Lovett, a former Naval Lieutenant, graduated Phi Beta Kappa and received his JD/MBA Magna Cum Laude from Columbia University.
John Folger, President of HouseHold Direct, stated: ``Mr. Lovett's impressive credentials speak loudly for themselves. We would be hard pressed to find an individual with a level of experience and record of achievement more in tune with the goals of HouseHold Direct. Mr. Lovett's role as President of Hartsfield, the investment bank providing our Company with strategic, financial and capital advice, and his oversight role as a member of the Board of Directors, only strengthens his value to the Company mission.''
About HouseHold Direct
The mission of HouseHold Direct is to empower consumers by creating the largest private, and most efficient, wholesale shopping network in the world. The Company is pursuing a consolidation and expansion initiative through the acquisition of regionally strategic buying clubs and distribution channels, to create a unified national network under the corporate banner. This network will be connected through a web platform to centralize administrative functions and enhance the flow of goods and services. Front end and recurring membership and transactional fees will form the growing revenue base behind the enterprise. Central to the success of this initiative is the ability to offer each member a deeply discounted manufacturer direct pricing model, extensive product information, convenient order fulfillment, in-home delivery and quality customer support. This superior personalized shopping environment and consumer experience creates the compelling incentive to join the network and underscores the company slogan ``live much better for much less''.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.
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Contact:
HouseHold Direct.com, Inc.
E-mail: infohhd@HouseHoldDirect.com
Web Site: householddirect.com
or
Investor Relations:
SmartStockAdvisor.com
Toll Free: 877/643-8821
E-mail: smartstockadvisor@yahoo.com
or
Hartsfield Capital Group, Inc.
Rick Morgan, 770/408-9000
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