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Pickups Plus, Inc. Appoints Executive Management Team TUESDAY, AUGUST 26, 2003 3:00 PM - BusinessWire CINCINNATI, Aug 26, 2003 (BUSINESS WIRE) -- Pickups Plus, Inc. (PUPS) today announced it has appointed Merritt Jesson as Chief Executive Officer & Chairman of the Board of Directors. In addition, Sean Hayes has been hired as Director of Business Development. Mr. Jesson was appointed by, and will report directly to, the board of directors and lead the company's recovery, expansion, investment and strategic planning. Mr. Jesson and Mr. Hayes lead and manage PUP's recovery, including negotiating with existing vendors, evaluating and implementing various funding solutions, the development of financial projections, disseminating appropriate information to shareholders and the expansion of the company's franchising business. "Our focus is on the recovery and growth of Pickups Plus," said Mr. Jesson. "As the only public franchiser in the light truck and SUV accessory business Pickups Plus has real business value. Sean Hayes and I look forward to working with the Board of Directors, existing franchisees, and the vendors to develop and implement a national franchising plan that leverages Pickups Plus' brand name, systems, training & marketing programs and continuously growing buying power." Mr. Jesson is the founder and principle of Professional Management and Consulting Services Group, Inc. and has been providing services to the company since March of 2002. Mr. Jesson organized PUP's investment LLC and they have invested over $500,000 in PUPS. Mr. Jesson brings over 35 years of experience in leading, expanding and raising capital for both private and public companies. Mr. Jesson's unique project management leadership style comes from the ownership and management of companies in the consumer electronics, telecommunications, manufacturing, construction and aerospace industries. Prior to Joining Pickups Plus, Mr. Hayes was the Managing Director of REIS Strategic Alliances, LLC, a Recovery, Expansion, Investment and Strategic planning consulting firm. Mr. Hayes has over 15 years experience with extensive background in marketing, contract negotiations, new product development and multi-location sales management. Prior to founding REIS, Mr. Hayes served as the Executive Vice President of Shared Technologies Cellular, Inc. Mr. Hayes' expertise is with public and private fund raising, placement and merchandising of consumer products through retail distribution and nationwide rollouts of retail locations. Mr. Hayes belongs to the Turnaround Management Association and received a degree in Business Administration and Computer Information Systems from New Hampshire College. Pick-Ups Plus, Inc. is a leading operator and franchiser of retail automotive parts and accessories stores catering to the light truck market, which is considered to be the fastest growing segment of the motor vehicle market in the United States. There are currently six franchised locations in operation and two Company owned-stores. The Company intends to pursue an aggressive expansion strategy by opening additional company-owned stores and franchise locations to become the first nationwide chain in its growing, but highly fragmented industry. For more information about the Company go to www.pickupsplus.com and look for updates in the Chairman's Letter which will be posted monthly. Safe Harbor Statement: Except for historical information contained herein, the statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, Section 21E of the Securities Act of 1934 and the Private Securities Litigation Act of 1995. Forward-looking statements involve known risk and uncertainties, which may cause the Company's actual results in the future to differ materially from forecasted results. SOURCE: Pickups Plus, Inc. Pickups Plus, Inc. Sean Hayes, 860-633-0377 shayes@Pickupsplus.com | ||||||||||||||
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