Addition to Executive Team is Part of Delta Galil’s Long-Term
Growth Strategy
TEL AVIV--(BUSINESS WIRE)--Delta Galil Industries, Ltd. (DELT/Tel Aviv Stock Exchange,
DELTY.PK/OTCQX), the global manufacturer and marketer of branded and
private label apparel products for men, women and children, today
announced that Maurice Reznik has been named CEO of Women’s Intimate
Apparel for USA and Great Britain and President of the Company’s Delta
Galil USA segment, effective January 5, 2015.
“Today’s announcement is part of our long-term strategy to drive
significant growth at Delta Galil by adding talented executives in key
positions, expanding in growth segments such as activewear, and
streamlining our organizational structure globally.”
Mr. Reznik, who most recently was CEO and a Director of Maidenform,
Inc., is an experienced apparel and consumer products executive with a
track record of driving growth and deep expertise in brand management,
strategic planning, product development, customer and supplier
relationships, and worldwide sourcing. He is credited with establishing
Maidenform as a leader in product innovation, especially in the
specialized bra and shapewear categories, which are key segments that
Delta Galil has targeted for growth.
“Maurice Reznik has an impressive track record of accomplishment in the
intimate apparel sector, and has a solid understanding of how to deliver
profitable growth and shareholder value. His appointment to our
management team will provide Delta Galil USA with focused, experienced
and effective leadership to take the business to the next level,” stated
Isaac Dabah, CEO of Delta Galil Industries, Ltd. Mr. Dabah added,
“Today’s announcement is part of our long-term strategy to drive
significant growth at Delta Galil by adding talented executives in key
positions, expanding in growth segments such as activewear, and
streamlining our organizational structure globally.”
“I am so excited to join Delta Galil. The Company has a well earned
reputation in the industry for innovation, quality and performance. I
look forward to working with the Delta Galil team to grow the USA and
Great Britain operation and realize the full potential of this
business,” said Mr. Reznik.
Mr. Reznik was President, and later CEO, of Maidenform, Inc. from 1998
to 2013. During his tenure, sales grew from $147 million to more than
$600 million and market share rose significantly, as he created and
executed strategies to expand distribution of the Maidenform brand to
new retail channels, launched new products, entered adjacent categories,
and instituted a more efficient and cost-effective manufacturing model.
Prior to joining Maidenform, from 1994 to 1998, Mr. Reznik was President
of Warner’s Intimate Apparel Group, North America, a division of Warnaco
(now PVH). Earlier, he held increasingly responsible leadership roles at
VF Corporation and Sara Lee Corporation. Mr. Reznik serves on numerous
boards of directors, including Movado and KapStone Paper and Packaging.
Among his charitable activities, he is a Co-Founder of For the Love of
Life Colon Cancer Foundation, which benefits colon cancer research at
Sloan Kettering, is on the board of Queens College and is on the parent
leadership council of Shatterproof, dedicated to reducing the impact of
addiction on families across America.
In his role, Mr. Reznik will report to Isaac Dabah, CEO of Delta Galil
Industries, Ltd. Mr. Reznik’s employment agreement will be finalized
upon approval of amendments to Delta Galil's compensation policy by the
Company’s shareholders.
About Delta Galil Industries
Delta Galil Industries is a global manufacturer and marketer of branded
and private label apparel products for men, women and children. Since
its inception in 1975, the Company has continually strived to create
products that follow a body-before-fabric philosophy, placing equal
emphasis on comfort, aesthetics and quality. Delta Galil develops
innovative seamless apparel including bras, shapewear and socks;
intimate apparel for women; extensive lines of underwear for men;
babywear, activewear, sleepwear, and leisurewear. For more information,
visit www.deltagalil.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements. Actual
results, performance or achievements could differ materially from those
contemplated, expressed or implied by the forward-looking statements
contained herein, and while expected, there is no guarantee that we will
attain the aforementioned anticipated developmental milestones. These
forward-looking statements are based largely on the expectations of the
Company and are subject to a number of risks and uncertainties. These
include, but are not limited to, risks and uncertainties associated
with: the impact of economic, competitive and other factors affecting
the Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies resulting
from terrorist actions, and U.S. actions subsequently; and other factors
detailed in reports filed by the Company.
Contacts
For more information:
Nissim Douek, +972-54-5201178
Nissim@unik.co.il
or
U.S.
Media:
Berns Communications Group
Stacy Berns/Melissa
Jaffin, +1-212-994-4660
sberns@bcg-pr.com