Racing Champions Announces Senior Management Promotions
3 October 2000
Racing Champions Announces Senior Management Promotions
GLEN ELLYN, Ill.--Oct. 3, 2000--Racing Champions Corporations today announced a number of promotions, effective immediately, that have been approved by the Company's Board of Directors.Bob Dods, Chairman and Chief Executive Officer said, "I am extremely proud of the Racing Champions Ertl management team and their many contributions and sacrifices during what has been a very difficult time in our industry. We have made progress in streamlining the Company's operations, while continuing to develop longer-term sales opportunities. Our dedicated management team in our offices worldwide is committed to growing Racing Champions Ertl's position as a leading producer and marketer in the collectibles and toy industry."
Boyd Meyer, President, has become Vice Chairman and remains a Director of the Company. Mr. Meyer co-founded Racing Champions in 1989 with Bob Dods, who remains the Company's Chairman and Chief Executive Officer, and Peter Chung, President of Racing Champions Limited and a Director of the Company.
Pete Henseler, currently Executive Vice President of Sales and Marketing, has been promoted to President. Mr. Henseler joined Racing Champions in 1996 and has held a variety of sales and marketing responsibilities since that time. Previously, Mr. Henseler spent 7 years with the McDonald's Corporation, serving as a director of marketing.
Curt Stoelting, currently Executive Vice President of Finance and Operations and CFO of the Company, has been named Executive Vice President and Chief Operating Officer. In his tenure at Racing Champions, Mr. Stoelting has become increasingly involved in the day-to-day operations of the Company and his new title gives formal recognition to these increased responsibilities. Mr. Stoelting joined Racing Champions in 1994, having previously been at Arthur Andersen LLP for 12 years.
Jody Taylor has been promoted to Senior Vice President of Finance. Ms. Taylor has been with Racing Champions since 1996, having served previously as Controller and Vice President of Finance and Administration. Ms. Taylor was previously employed for over 5 years at Arthur Andersen LLP and is a Certified Public Accountant.
Doris Koopmann has been promoted to Senior Vice President of Operations. Ms. Koopmann has been with the Company for 19 years. In her new role, she is responsible for customer relations, logistics/distribution and information systems for Racing Champions Ertl.
Jim Sheperd has been promoted to Senior Vice President of New Products. Mr. Sheperd has held a variety of engineering and product positions over his 11 years with the Company. In his new role, he oversees new product concepts and development for Racing Champions Ertl.
Scott Sampson has been promoted to Vice President of Logistics and Distribution. Mr. Sampson has been with the Company for 26 years and is responsible for all day-to-day functions relating to warehousing and shipping at the Company's Dyersville, Iowa facility.
The Company also announced promotions for three individuals that have been with Racing Champions Limited, since 1989. Racing Champions Limited oversees the production of the Company's products in China. Helena Lo has been named Managing Director; Kelvin Ng, Senior Vice President of Engineering and Product Development; and Rose Lam, Senior Vice President of Marketing and Customer Service.
Founded in 1989, Racing Champions (www.rcertl.com) is a leading producer and marketer of innovative collectibles and toys sold in multiple channels of distribution and available at more than 20,000 retail outlets. The Company sells American Muscle(tm) collectible die-cast vehicle replicas, NASCAR and NHRA die-cast racing replicas, officially licensed die-cast and preschool products of automobiles, trucks, agricultural, heavy equipment and powered-recreational and sport vehicles, AMT(tm) model kits, Press Pass(tm) trading cards and NASCAR souvenirs and apparel. High-profile licensing partners include NASCAR, NHRA, John Deere, Case, Polaris, Honda, Caterpillar, Ford, GM, Chrysler, Texaco and Warner Brothers.
Forward-looking statements in this release are subject to many uncertainties in the Company's operations and business environment. These uncertainties include general economic conditions, demand for the Company's products, competition, availability of certain licensed properties and costs of operations. Such uncertainties and other operational matters are discussed further in the Company's quarterly and annual filings with the Securities and Exchange Commission.