Wednesday September 9, 8:33 am Eastern Time
Company Press Release
Lawrence Meyer Named Chief
Financial Officer of the Gymboree
Corporation
BURLINGAME, Calif.--(BUSINESS WIRE)--Sept. 9, 1998--The Gymboree Corporation
(NASDAQ: GYMB - news) announced today that it has named Lawrence H. Meyer Senior Vice
President and Chief Financial Officer, effective September 21, 1998. Mr. Meyer joins Gymboree
from Toys ''R'' Us International where he spent the past seven years, primarily as Chief Financial
Officer and most recently as Vice President, Business Development.
At Toys ''R'' Us, Mr. Meyer was responsible for international financial and systems organizations.
During his tenure as Chief Financial Officer, the International Division's sales grew from $500 million
to nearly $3 billion as its business expanded to include stores in 26 countries.
''Larry's extensive experience and financial acumen will strengthen our ability to implement our
strategic initiatives,'' said Gary White, Gymboree's President and Chief Executive Officer. ''Not only
does he possess the skills to develop a financial organization that meets the needs of our growing
business, but his experience with both a preeminent branding company and a leading retailer will
benefit Gymboree as we evaluate growth opportunities.''
Mr. Meyer said: ''This is an outstanding time to join Gymboree. The company is well-positioned for
strong growth, and to leverage its brand image and expertise to develop new concepts. I look
forward to working with Gary White and the entire management team to add value to the Gymboree
organization.''
Mr. Meyer, 46, joined Toys ''R'' Us International in 1991 as Chief Financial Officer and assumed
his position in development in 1997. Prior to joining Toys ''R'' Us, he served for two years as Vice
President and Chief Financial Officer of Nielsen Marketing Research. From 1978 to 1989, Mr.
Meyer held several financial positions with PepsiCo, Inc., including Assistant Treasurer, International
and Director of Planning, Beverage Operations on the corporate level.
The Gymboree Corporation designs, manufactures, and retails unique, high quality apparel and
accessories for children from birth to seven years of age. The Company operates 509 stores,
including 482 stores in the U.S., 13 stores in Canada, and 14 stores in Europe. The Company also
offers directed parent-child developmental play programs at over 390 franchised and company
operated centers.
Contact:
Investor Contact:
The Gymboree Corp.
(650) 696-7540
or
Media Contact:
Mark A. Semer
Kekst and Company
(212) 521-4802 |
