MAYBE SOMETHING GOOD IS FINALLY HAPPENING:
Tuesday July 1 2:34 PM EDT
Company Press Release
Saratoga Brands announces changes in board of directors and
management
LAKEWOOD, N.J.--(BUSINESS WIRE)--July 1, 1997--Saratoga Brands Inc. (NASDAQ:STGA) Tuesday announced that
Barry Witz has resigned as chairman of the board of director for health reasons and that Scott G. Halperin has acceded to the
office of chairman while continuing to perform as chief executive officer of the company.
In addition, Bernard F. Lillis Jr., Saratoga Brands' chief financial officer, has assumed the role of chief operating officer and has
also been appointed to the board of directors.
Halperin, has been a director of the company since Jan. 28, 1994. He has been chief executive officer since August 1994 and
has also been serving as treasurer since May 1994.
Lillis has been chief financial officer since April 1996. Prior to joining Saratoga he served as chief financial officer of one of the
largest suppliers of construction aggregate in the New York metropolitan area for 14 years. Previously he was vice president
finance & administration of a Princeton, N.J. management consulting firm for seven years. Lillis also served as deputy city
manager-finance of Rochester, N.Y., and began his career with Deloitte & Touche (previously Haskins & Sells), certified
public accountants.
Saratoga Brands' Cucina Classica Italiana subsidiary imports and produces under license Italian specialty cheeses and other
premium specialty foods, including world-renowned brands from Egidio Galbani S.p.A. Saratoga Brands' Mobile Caterers Inc.
subsidiary is a food processor and distributor. It services mobile caterers and provides social catering services as well as food
distribution to more than 900 convenience stores and retail outlets in the southern New England states.
Except for the historical information contained herein, the matters discussed in this news release are forward looking statements
that involve risks and uncertainties. The forward looking statements in this release are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of
factors, including without limitation the presence of competitors with broader product lines and greater financial resources;
intellectual property rights and litigation; needs for liquidity; and the other risks detailed from time to time in the company's
reports filed with the Securities and Exchange Commission. |
