Non-Tech
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National Vision Inc. (NVI - VSTA - NVAL)
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| An SI Board Since April 2002 |
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National Vision, Inc., formerly Vista Eyecare, Inc., is a retail optical company with 725 vision centers in the United States and Mexico. The Company operates 499 of its vision centers in host departments, such as Wal-Mart and Fred Meyer locations, and 226 of its freestanding vision centers in malls and strip centers. Its locations sell a wide range of optical products, including eyeglasses, contact lenses and sunglasses. At approximately 690 of its locations, the Company offers the services of optometrists. The Company also operates three manufacturing and distribution centers. On April 5, 2000, the Company and 10 of its subsidiaries filed voluntary petitions for reorganization under Chapter 11. In March 2001, a plan of reorganization was filed. On May 18, 2001, the United States Bankruptcy Court for the Northern District of Georgia entered an order approving the Company's plan of reorganization. The order became final on May 29, 2001 and the plan became effective on May 31, 2001.
National Vision Inc. (NVI) named Reade Fahs president and chief operating officer. Following a transition period, the company expects Fahs will be named chief executive, replacing James W. Krause, who will continue as chief executive during the interim. Krause is expected to remain a member of the board. In a press release Friday, National Vision said Fahs had been chief executive at First Tuesday, a U.K.-based Internet company. National Vision said Dr. Mark Nelson will be nominated for election to the board to replace Dr. Myrel Neumann, whose term expires May 23.
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