Action Performance Companies Elects R. David Martin, CFO, to Board of Directors
1 December 2000
Action Performance Companies Elects R. David Martin, CFO, to Board of Directors
PHOENIX--Dec. 1, 2000--Action Performance Companies Inc. , the leader in the design, marketing, promotion and distribution of licensed motorsports merchandise, today announced the election of CFO R. David Martin to its board of directors.Martin joined the company in early August, 2000, as CFO. He had retired in May as a partner at Deloitte & Touche, an accounting, tax, and consulting firm.
Commented Fred Wagenhals, chairman, president and CEO of Action Performance, "In a very short time, Dave has proven to be a top professional, making valuable contributions to the company. As a board member, his extensive financial background and expertise will play a key role in providing the type of financial oversight the company needs as it begins to rebuild revenues and profitability."
The company also reported that Herbert M. Baum has resigned from its board of directors due to the time required as CEO of Dial Corp.
About Action Performance
Action Performance Companies Inc. is the leader in the design, marketing, promotion and distribution of licensed motorsports merchandise. Its products include a broad range of motorsports-related die-cast car replica collectibles, apparel, souvenirs and other memorabilia.
The company markets and distributes products through a variety of channels, including the Racing Collectables Club of America (RCCA), goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.
This press release contains forward-looking statements regarding the company's fiscal 2000 fourth-quarter results, current outlook, and future activities and expectations. The company's actual activities results could differ materially from those set forth in the forward-looking statements. Factors that might cause such differences include, among others, competitive pressures, acceptance of the company's products and services in the marketplace, the company's ability to successfully integrate acquired businesses, the company's ability to successfully implement its growth strategy, and other risks discussed in the company's Form 10-K dated Sept. 30, 1999, on file with the U.S. Securities and Exchange Commission.