WOONSOCKET, R.I., March 4, 2015 (GLOBE NEWSWIRE) -- Summer Infant, Inc. (Nasdaq: SUMR ), a global leader in premium juvenile products, today announced that, effective immediately, Robert Stebenne will become the Company's new President and Chief Operating Officer. A current Summer Infant board member, Stebenne has 30 years of juvenile product development and marketing experience, including 20 years in positions of increasing responsibility at Hasbro Industries.
"For more than 30 years, Bob has been integral in developing new products, brands and markets for some of the top companies in our industry," said Dan Almagor, Chairman of the Board. "His steady leadership, wealth of experience and passion for juvenile marketing come at an important time for Summer Infant, and we are excited to welcome him to the management team. As a longtime member of our board of directors, Bob has a deep understanding of Summer Infant and the strategies we are now pursuing, which will be invaluable as we look to drive new revenue opportunities, expand into additional markets, and improve bottom line results."
"Bob will be a tremendous asset to the management team given his significant operating and strategic experience in our industry and years of service to the Company," added Carol Bramson, Chief Executive Officer. "I have enjoyed working with him both on the board and as CEO, and I look forward to this new chapter for our Company."
"It has been my pleasure to work with Dan, Carol, the board and Summer Infant's entire management team for the past eight years. I am honored to deepen those relationships as we work together to strengthen the Company's position in the market and increase returns to our investors," Stebenne said. "This is a company I believe in and a market I know very well, and I am excited to join the Summer Infant management team."
Robert Stebenne became a member of Summer Infant's Board of Directors in 2007 and acted as the lead independent director from 2008 until 2013. He currently owns and manages Bob Stebenne Associates, a firm that provides consulting services in the areas of brand development, product development and strategic planning, among other areas. From February 1999 to July 2002, Mr. Stebenne was the President of New Business Development for Hasbro Industries. From 1991 to January 1999, he was President of Hasbro's FOB/LC division, where he created a U.S. marketing, sales, product development, finance and logistics group. From 1982 to 1991, he was President of Hasbro's Playskool Baby division. Stebenne received a B.A. from Roger Williams University.
About Summer Infant, Inc.
Based in Woonsocket, Rhode Island, the Company is a global leader of premium juvenile products for ages 0-3 years, which are sold principally to large North American and international retailers. The Company currently sells proprietary products in a number of different categories, including nursery audio/video monitors, safety gates, durable bath products, bed rails, nursery products, strollers, booster and potty seats, swaddling blankets, bouncers, travel accessories, highchairs, swings, and infant feeding products. For more information about the Company, please visit www.summerinfant.com .
Forward-Looking Statements
Certain statements in this release that are not historical fact may be deemed "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and the Company intends that such forward-looking statements be subject to the safe harbor created thereby. These statements are accompanied by words such as "anticipate," "expect," "project," "will," "believes," "estimate" and similar expressions and include statements regarding the Company's revenue opportunities and expanded markets. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements, including the Company's ability to develop, market and launch new products; the Company's ability to grow sales with existing and new customers; and other risks as detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as amended, and subsequent filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information contained in this release.
Company Contact: Chris Witty Investor Relations 646-438-9385
