News Releases
-Matthew Mannelly Plans to Retire in
-Board of Directors Select Ron Lombardi as President and CEO-
-Company Expects to Achieve Upper End of Previously Announced Fourth Fiscal Quarter and Year End 2015 Revenue and adjusted EPS Outlook-
“Ron and Matt have worked together for ten years including five years at
“It has been a privilege to partner with Ron during this important phase of the company’s history,” Mr. Mannelly said. “Ron has contributed to all aspects of the business including development and execution of our three-pronged growth strategy, and I leave Prestige with tremendous confidence in the management team’s ability under Ron’s continued leadership. I know we are well positioned with very strong momentum entering fiscal 2016 making now the appropriate time for me to retire and make this change for myself and my family.”
New President and Chief Executive Officer
Mr. Lombardi will become President and Chief Executive Officer upon Mr.
Mannelly’s retirement. Mr. Lombardi joined Prestige in
“Ron’s strong leadership skills and breadth of experience have been
among the important factors in our record growth,” said Mr. Costley. “As
part of our succession planning, the board of directors determined that
Ron would be the ideal successor to Matt as the next President and Chief
Executive Officer of
Preliminary Fiscal Year End 2015 Revenue and Adjusted EPS Outlook
Based on preliminary fourth fiscal quarter results, the company expects
to achieve the upper end of the previously issued FY 2015 Revenue and
Adjusted Earnings Per Share outlook which was
Q4 Conference Call, Accompanying Slide Presentation & Replay
The company will issue its fiscal 2015 fourth quarter and year-end
earnings release on
To access the call, listeners calling from within
Telephonic replays will be available for two weeks following completion
of the live call and can be accessed at 888-286-8010 within
About
The Company markets and distributes brand name over-the-counter and
household cleaning products throughout the U.S.,
Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the
meaning of the federal securities laws that are intended to qualify for
the safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. "Forward-looking statements" generally
can be identified by the use of forward-looking terminology such as
"outlook," "may," "will," "would," "expect," “intend,” “estimate,”
“anticipate,” “believe,” or "continue" (or the negative or other
derivatives of each of these terms) or similar terminology. The
"forward-looking statements" include, without limitation, statements
regarding our expected future operating results including adjusted
earnings per share, revenue growth and generation of free cash flow, and
our expected use of free cash flow for rapid deleveraging and building
M&A capacity. These statements are based on management's estimates and
assumptions with respect to future events and financial performance and
are believed to be reasonable, though are inherently uncertain and
difficult to predict. Actual results could differ materially from those
expected as a result of a variety of factors, including the transition
of our leadership team, the impact of our advertising and promotional
initiatives, competition in our industry, supplier issues, and the
success of our brand-building investments and integration of newly
acquired products. A discussion of other factors that could cause
results to vary is included in the Company's Annual Report on Form 10-K
for the year ended
Source:
Investor Relations Contact:
Prestige Brands Holdings, Inc.
Dean
Siegal, 914-524-6819
or
ICR
Kristen Nungesser,
646-277-1261
Kristen.Nungesser@icrinc.com
or
ICR
John
Mills, 646-277-1254
John.Mills@icrinc.com