G-III Apparel Group, Ltd. Appoints Wayne S. Miller Chief Operating Officer; Names Neal Nackman as Vice President, Finance
NEW YORK, Dec. 17, 2003 -- G-III Apparel Group, Ltd. (Nasdaq: GIII) today announced that Wayne S. Miller has been promoted to the newly created position of Chief Operating Officer in addition to maintaining his current duties as Chief Financial Officer.
Mr. Miller will oversee the company's operations in the areas of new business development, distribution, finance and information technology. He will continue to report directly to Morris Goldfarb, the Company's Chairman and Chief Executive Officer. Mr. Miller has been GIII's Chief Financial Officer and Senior Vice President since April 1998. In November 1998, Mr. Miller was also elected Secretary and Treasurer. Mr. Miller began his career with Ernst & Young and has held various senior level financial positions in the apparel industry prior to joining GIII.
Morris Goldfarb, Chief Executive Officer, said "Wayne has been an invaluable member of our management team and we are pleased to appoint him to this newly created position within G-III. In addition to his financial expertise, Wayne possesses a deep understanding of our company from an operational perspective. He is also an integral part of our strategic planning process. I am confident that he will serve us well in this new capacity and that his insight will continue to be instrumental in leading G-III through its next stage of growth."
Also today, the Company announced that Neal Nackman has been hired as the Vice President-Finance. Neal was formerly a partner with Grant Thornton and subsequently held senior level finance positions at Nautica, Inc., Perry Ellis, Inc. and Martha Stewart Living Omnimedia. Mr. Nackman will report directly to Mr. Miller and will support him in his duties as Chief Financial Officer.
About G-III Apparel Group, Ltd.
G-III Apparel Group, Ltd. is a leading manufacturer and distributor of leather and non-leather outerwear and apparel under our own labels, licensed labels and private labels. Company-owned labels include, among others, Black Rivet, Colebrook, Siena Studio and G-III. The Company has fashion licenses with Kenneth Cole, Nine West, Timberland, Cole Haan, Jones Apparel, Sean John, Bill Blass and James Dean and sports licensing agreements with the National Football League, National Hockey League, National Basketball Association, Major League Baseball and more than 60 universities nationwide.
Statements concerning the Company's business outlook or future economic performance, anticipated revenues, expenses or other financial items; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters are "forward-looking statements" as that term is defined under the Federal Securities laws. Forward-looking statements are subject to risks, uncertainties and factors include, but are not limited to, reliance on foreign manufacturers, the nature of the apparel industry, including changing customer demand and tastes, reliance on licensed product, seasonality, customer acceptance of new products, the impact of competitive products and pricing, dependence on existing management, general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this release.
CONTACT: Investor Relations James Palczynski, 203-222-9013 or G-III Apparel Group, Ltd. Morris Goldfarb, 212-403-0500