SRR picks
a new CEO:
Company Press Release
Stride Rite Names James A. Eskridge as New Chairman and CEO
LEXINGTON, Mass.--(BUSINESS WIRE)--Nov. 11, 1998--The Stride Rite Corporation (NYSE:SRR - news) a leading marketer of children's, casual and active footwear, today announced the appointment of James A. Eskridge as Chairman and Chief Executive Officer.
Mr. Eskridge, 55, held various key positions at Mattel, Inc., including: Group President where he was responsible for product development, marketing and sales; President and CEO of Fisher-Price, a division of Mattel, in which he was responsible for the acquisition, and integration of this division into Mattel; and he also served as Mattel's Executive Vice President and Chief Financial Officer. Prior to joining Mattel, Mr. Eskridge held executive positions with General Mills, Inc. and General Motors Corporation.
Bob Siegel, retiring Chairman and CEO, said ''Jim Eskridge is an excellent choice to lead Stride Rite into the future. Jim will be focusing particularly on increasing shareholder value and growing Stride Rite's various brands in its existing markets and expanding internationally. We are delighted that Stride Rite will have the benefit of Jim's knowledge of consumer products, finance and brand building. I'm very pleased with our choice in the new CEO and look forward to assisting him in a smooth transition.''
Frank R. Mori, a Director of the Company and head of the search committee, said, ''We are fortunate to have someone with the leadership abilities, background, and track record of Jim Eskridge joining the Company. Jim will be a strong addition to an already outstanding team. The Board of Directors is looking forward to working with Jim to build on the achievements of Bob Siegel.''
Stride Rite's new CEO holds a bachelor's degree in Economics from the University of California and a master's degree in Business from the Harvard School of Business. He and his wife, Sharen, will relocate from Southern California to the Boston area in December.
The Stride Rite Corporation markets the leading brand of high quality children's shoes in the United States. Other footwear products for children and adults are marketed by the Company under the well-known brand names, including Keds, Sperry Top-Sider, Tommy Hilfiger, Nine West Kids, Grasshoppers and Street Hot.
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