Tel Aviv, November 4, 2014 – 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.
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.